AdvisorShares Investments LLC Sells 1,205,453 Shares of Psyence Biomedical Ltd. (NASDAQ:PBM)

AdvisorShares Investments LLC lowered its stake in shares of Psyence Biomedical Ltd. (NASDAQ:PBM) by 97.8% in the fourth quarter, Holdings Channel.com reports. The firm owned 26,923 shares of the company’s stock after selling 1,205,453 shares during the period. AdvisorShares Investments LLC’s holdings in Psyence Biomedical were worth $57,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Essential Planning LLC. bought a new stake in Psyence Biomedical in the 4th quarter worth about $163,000. Virtu Financial LLC bought a new stake in Psyence Biomedical during the fourth quarter worth $27,000. Finally, Harraden Circle Investments LLC purchased a new position in Psyence Biomedical in the fourth quarter worth $385,000. Institutional investors own 77.44% of the company’s stock.

Psyence Biomedical Stock Performance

NASDAQ PBM opened at $0.52 on Wednesday. The company has a 50-day simple moving average of $0.70 and a 200 day simple moving average of $2.37. Psyence Biomedical Ltd. has a 52-week low of $0.37 and a 52-week high of $108.00.

Psyence Biomedical Profile

Psyence Biomedical Ltd. engages in the development of botanical psilocybin-based psychedelic medicines. It also evaluates natural psilocybin for the treatment of adjustment disorder in patients with an incurable cancer diagnosis in a palliative care context. The company’s lead product candidate is PEX010, which is in Phase IIb clinical study, a capsule containing naturally sourced psilocybin for treatment of anxiety and depression, including associated ailments, such as post-traumatic stress disorder, stress, grief, and adjustment disorder in the context of palliative care.