Silo Pharma, Inc. (NASDAQ:SILO) Shares Shorted: Short Interest Down 36.7% in October

Silo Pharma, Inc. (NASDAQ:SILO) saw a significant drop in short interest in the month of October. As of October 15th, there was short interest totaling 22,078 shares, a drop of 36.7% from the September 30th total of 34,870 shares. Based on an average daily trading volume, of 156,498 shares, the days-to-cover ratio is currently 0.1 days. Currently, 1.4% of the company’s shares are short sold.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings lowered shares of Silo Pharma from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, August 21st. One investment analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

Institutional Trading of Silo Pharma

An institutional investor recently raised its stake in Silo Pharma stock. AdvisorShares Investments LLC increased its stake in shares of Silo Pharma, Inc. (NASDAQ:SILO) by 10.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 663,965 shares of the company’s stock after buying an additional 64,458 shares during the quarter. AdvisorShares Investments LLC owned 4.08% of Silo Pharma worth $239,000 at the end of the most recent reporting period. 5.58% of the stock is owned by institutional investors.

Silo Pharma Stock Performance

Shares of NASDAQ:SILO traded up $0.06 during midday trading on Monday, hitting $1.28. 2,733 shares of the stock were exchanged, compared to its average volume of 172,618. The company has a market capitalization of $2.04 million, a PE ratio of -0.29 and a beta of 0.81. The business’s fifty day simple moving average is $1.76 and its two-hundred day simple moving average is $4.55. Silo Pharma has a 52-week low of $1.10 and a 52-week high of $10.43.

Silo Pharma (NASDAQ:SILO) last announced its quarterly earnings results on Thursday, August 13th. The company reported ($0.76) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.44). Silo Pharma had a negative return on equity of 81.75% and a negative net margin of 6,726.39%.

Silo Pharma Company Profile

Silo Pharma, Inc is a development-stage biopharmaceutical company focused on developing therapeutics that combine traditional pharmaceutical approaches with psychedelic research. The company’s programs are intended to address conditions involving pain, inflammation, neurological disorders, and mental health.

Silo Pharma’s pipeline has included SP-26, an investigational ketamine-based implant designed to provide sustained drug delivery and being explored for conditions such as fibromyalgia.