Silo Pharma, Inc. (NASDAQ:SILO) Short Interest Down 94.8% in June

Silo Pharma, Inc. (NASDAQ:SILO) was the target of a large decline in short interest in the month of June. As of June 15th, there was short interest totaling 16,790 shares, a decline of 94.8% from the May 31st total of 322,795 shares. Approximately 1.6% of the shares of the company are sold short. Based on an average daily volume of 41,247 shares, the days-to-cover ratio is currently 0.4 days.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings cut Silo Pharma from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, June 11th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has a consensus rating of “Sell”.

Silo Pharma Trading Down 7.4%

NASDAQ SILO traded down $0.46 during trading on Thursday, reaching $5.76. The company’s stock had a trading volume of 31,676 shares, compared to its average volume of 180,644. The firm has a 50 day moving average price of $6.41 and a 200 day moving average price of $5.77. Silo Pharma has a 12 month low of $3.32 and a 12 month high of $15.15. The firm has a market capitalization of $6.22 million, a price-to-earnings ratio of -0.89 and a beta of 0.63.

Silo Pharma (NASDAQ:SILO) last released its quarterly earnings results on Friday, March 27th. The company reported $0.45 earnings per share for the quarter. The company had revenue of $0.02 million during the quarter. Silo Pharma had a negative net margin of 6,726.39% and a negative return on equity of 88.40%.

Hedge Funds Weigh In On Silo Pharma

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC lifted its position in shares of Silo Pharma by 134.6% during the 4th quarter. Geode Capital Management LLC now owns 92,905 shares of the company’s stock valued at $32,000 after acquiring an additional 53,309 shares during the period. Virtu Financial LLC bought a new position in shares of Silo Pharma in the third quarter worth $74,000. DRW Securities LLC acquired a new position in Silo Pharma in the fourth quarter valued at about $113,000. AdvisorShares Investments LLC raised its stake in Silo Pharma by 64.3% in the fourth quarter. AdvisorShares Investments LLC now owns 599,507 shares of the company’s stock valued at $204,000 after purchasing an additional 234,629 shares in the last quarter. Finally, Anson Funds Management LP bought a new stake in Silo Pharma during the third quarter worth about $657,000. 5.58% of the stock is owned by institutional investors and hedge funds.

Silo Pharma Company Profile

Silo Pharma, Inc (NASDAQ:SILO) is a clinical-stage biotechnology company focused on the discovery, development and commercialization of novel psychedelic and related synthetic therapies. Headquartered in New York City, the company applies proprietary chemistry and targeted drug delivery approaches to advance candidates that address critical unmet needs across oncology, neurology and mental health.

The company’s preclinical and early-stage clinical pipeline comprises several programs that explore serotonin receptor modulators, synthetic analogs of classic psychoactive compounds and neuroprotective agents.