Psyence Biomedical Ltd. (NASDAQ:PBM) Short Interest Update

Psyence Biomedical Ltd. (NASDAQ:PBM) was the target of a significant increase in short interest in the month of October. As of October 15th, there was short interest totalling 605,600 shares, an increase of 181.5% from the September 30th total of 215,100 shares. Currently, 6.5% of the shares of the company are sold short. Based on an average daily volume of 6,080,000 shares, the short-interest ratio is presently 0.1 days.

Hedge Funds Weigh In On Psyence Biomedical

A hedge fund recently bought a new stake in Psyence Biomedical stock. Virtu Financial LLC bought a new position in shares of Psyence Biomedical Ltd. (NASDAQ:PBM) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 26,419 shares of the company’s stock, valued at approximately $30,000. Virtu Financial LLC owned approximately 0.30% of Psyence Biomedical at the end of the most recent reporting period. Institutional investors and hedge funds own 77.44% of the company’s stock.

Psyence Biomedical Price Performance

Shares of NASDAQ PBM opened at $0.10 on Monday. The stock has a fifty day simple moving average of $0.21 and a two-hundred day simple moving average of $0.49. Psyence Biomedical has a 1-year low of $0.08 and a 1-year high of $4.31.

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.