Short Interest in Psyence Biomedical Ltd. (NASDAQ:PBM) Declines By 22.3%

Psyence Biomedical Ltd. (NASDAQ:PBM) saw a large decline in short interest in the month of January. As of January 31st, there was short interest totalling 187,800 shares, a decline of 22.3% from the January 15th total of 241,700 shares. Currently, 33.9% of the company’s shares are sold short. Based on an average daily trading volume, of 2,450,000 shares, the short-interest ratio is currently 0.1 days.

Institutional Trading of Psyence Biomedical

A number of large investors have recently made changes to their positions in PBM. Harraden Circle Investments LLC bought a new position in Psyence Biomedical during the 4th quarter worth about $385,000. Essential Planning LLC. bought a new position in Psyence Biomedical during the 4th quarter worth about $163,000. Finally, Virtu Financial LLC bought a new position in Psyence Biomedical during the 4th quarter worth about $27,000. Institutional investors own 77.44% of the company’s stock.

Psyence Biomedical Stock Performance

PBM opened at $1.28 on Friday. Psyence Biomedical has a 12 month low of $1.15 and a 12 month high of $323.25. The company has a fifty day simple moving average of $1.88 and a 200 day simple moving average of $11.17.

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

Psyence Biomedical Company Profile

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.