Psyence Biomedical Ltd. (NASDAQ:PBM – Get Free Report) saw a large drop in short interest in the month of September. As of September 30th, there was short interest totaling 26,839 shares, a drop of 44.3% from the September 15th total of 48,219 shares. Approximately 1.2% of the company’s shares are short sold. Based on an average daily trading volume, of 109,582 shares, the short-interest ratio is presently 0.2 days.
Psyence Biomedical Stock Up 4.6%
Shares of NASDAQ:PBM traded up $0.19 during trading on Thursday, hitting $4.32. The stock had a trading volume of 16,495 shares, compared to its average volume of 921,384. Psyence Biomedical has a 12-month low of $1.92 and a 12-month high of $22.40. The stock has a market capitalization of $9.91 million, a price-to-earnings ratio of 0.17 and a beta of 1.68. The stock has a 50-day simple moving average of $4.79 and a two-hundred day simple moving average of $4.26.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently commented on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Psyence Biomedical in a research report on Friday, July 17th. Wall Street Zen upgraded Psyence Biomedical to a “hold” rating in a report on Saturday, October 3rd. One analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, the stock presently has an average rating of “Sell”.
Get Our Latest Stock Report on PBM
Psyence Biomedical Company Profile
Psyence Biomedical, Inc is a clinical-stage biotechnology company focused on developing psychedelic-based therapeutics for unmet mental health needs. The company’s research centers on psilocybin, a naturally occurring psychedelic compound, and its potential use in combination with psychological support.
Psyence Biomedical’s lead development program is aimed at treating adjustment disorder in patients receiving palliative care. The company is investigating a psilocybin-based drug product designed to address emotional and psychological distress associated with serious illness, while seeking to establish a standardized treatment approach suitable for clinical and medical settings.
The company was formed through a business combination involving Newcourt Acquisition Corp.
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