Psyence Biomedical Ltd. (NASDAQ:PBM) Short Interest Up 116.0% in January

Psyence Biomedical Ltd. (NASDAQ:PBM) saw a significant growth in short interest during the month of January. As of January 30th, there was short interest totaling 145,422 shares, a growth of 116.0% from the January 15th total of 67,332 shares. Currently, 14.8% of the company’s shares are sold short. Based on an average trading volume of 618,782 shares, the days-to-cover ratio is currently 0.2 days. Based on an average trading volume of 618,782 shares, the days-to-cover ratio is currently 0.2 days. Currently, 14.8% of the company’s shares are sold short.

Institutional Investors Weigh In On Psyence Biomedical

A hedge fund recently bought a new stake in Psyence Biomedical stock. Virtu Financial LLC purchased a new position in shares of Psyence Biomedical Ltd. (NASDAQ:PBM) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 10,325 shares of the company’s stock, valued at approximately $33,000. Virtu Financial LLC owned approximately 0.55% of Psyence Biomedical as of its most recent filing with the Securities and Exchange Commission. 77.44% of the stock is currently owned by institutional investors.

Psyence Biomedical Trading Up 10.0%

Shares of Psyence Biomedical stock opened at $3.09 on Friday. Psyence Biomedical has a twelve month low of $2.54 and a twelve month high of $74.94. The stock has a market cap of $3.15 million, a price-to-earnings ratio of 0.12 and a beta of 0.32. The company has a fifty day moving average price of $5.52 and a 200 day moving average price of $15.18.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Psyence Biomedical in a research note on Thursday, January 22nd. One analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has an average rating of “Sell”.

About Psyence Biomedical

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.