Psyence Biomedical Ltd. (NASDAQ:PBM) Sees Significant Growth in Short Interest

by · The Markets Daily

Psyence Biomedical Ltd. (NASDAQ:PBM – Get Free Report) was the target of a significant increase in short interest in February. As of February 15th, there was short interest totalling 293,800 shares, an increase of 56.4% from the January 31st total of 187,800 shares. Approximately 43.1% of the company’s stock are sold short. Based on an average trading volume of 2,560,000 shares, the days-to-cover ratio is currently 0.1 days.

Psyence Biomedical Stock Performance

Shares of NASDAQ PBM remained flat at $1.24 during midday trading on Friday. 171,857 shares of the company’s stock were exchanged, compared to its average volume of 713,643. Psyence Biomedical has a fifty-two week low of $1.13 and a fifty-two week high of $323.25. The company’s 50-day moving average is $1.68 and its 200-day moving average is $7.66.

Psyence Biomedical (NASDAQ:PBM – Get Free Report) last released its quarterly earnings data on Thursday, January 23rd. The company reported $0.51 earnings per share for the quarter.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Harraden Circle Investments LLC acquired a new stake in shares of Psyence Biomedical in the 4th quarter worth $385,000. Essential Planning LLC. acquired a new position in Psyence Biomedical during the fourth quarter worth $163,000. Finally, Virtu Financial LLC purchased a new position in Psyence Biomedical during the 4th quarter valued at about $27,000. 77.44% of the stock is owned by hedge funds and other institutional investors.

About Psyence Biomedical

(Get Free Report)

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.

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