Kaitlyn Arsenault Sells 43,206 Shares of Skye Bioscience, Inc. (NASDAQ:SKYE) Stock

by · The Markets Daily

Skye Bioscience, Inc. (NASDAQ:SKYE – Get Free Report) CFO Kaitlyn Arsenault sold 43,206 shares of Skye Bioscience stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $4.99, for a total transaction of $215,597.94. Following the transaction, the chief financial officer now owns 166,342 shares in the company, valued at approximately $830,046.58. The trade was a 20.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

Kaitlyn Arsenault also recently made the following trade(s):

  • On Friday, November 15th, Kaitlyn Arsenault sold 190 shares of Skye Bioscience stock. The stock was sold at an average price of $5.55, for a total value of $1,054.50.

Skye Bioscience Price Performance

Shares of NASDAQ SKYE opened at $4.28 on Thursday. The business has a 50 day simple moving average of $5.08 and a 200 day simple moving average of $5.00. Skye Bioscience, Inc. has a 52 week low of $1.44 and a 52 week high of $19.41.

Institutional Trading of Skye Bioscience

Institutional investors have recently added to or reduced their stakes in the business. Cubist Systematic Strategies LLC bought a new position in shares of Skye Bioscience during the 2nd quarter valued at $30,000. Point72 DIFC Ltd bought a new stake in Skye Bioscience in the second quarter worth $48,000. Jane Street Group LLC acquired a new position in Skye Bioscience during the third quarter worth $48,000. Barclays PLC raised its holdings in Skye Bioscience by 36.7% during the third quarter. Barclays PLC now owns 57,889 shares of the company’s stock valued at $226,000 after buying an additional 15,551 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Skye Bioscience by 4.2% in the third quarter. Geode Capital Management LLC now owns 385,793 shares of the company’s stock worth $1,509,000 after buying an additional 15,614 shares during the last quarter. 21.09% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on SKYE shares. Cantor Fitzgerald reissued an “overweight” rating and issued a $14.00 price objective on shares of Skye Bioscience in a research note on Friday, September 20th. JMP Securities began coverage on shares of Skye Bioscience in a report on Tuesday, September 10th. They set an “outperform” rating and a $15.00 price target for the company. Piper Sandler reiterated an “overweight” rating and issued a $20.00 price objective on shares of Skye Bioscience in a research note on Friday, September 20th. Finally, Scotiabank initiated coverage on shares of Skye Bioscience in a research report on Monday, September 30th. They issued a “sector outperform” rating and a $20.00 target price for the company. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $18.67.

View Our Latest Analysis on SKYE

Skye Bioscience Company Profile

(Get Free Report)

Skye Bioscience, Inc, a clinical stage pharmaceutical company, discovers, develops, and commercializes cannabinoid-based molecules for the treatment of infectious diseases. The company's lead product candidate is SBI-100 used in the treatment of glaucoma and ocular hypertension. It is also developing SBI-200 to treat and manage various eye diseases, including uveitis, dry eye syndrome, macular degeneration and diabetic retinopathy.

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