Short Interest in Psyence Biomedical Ltd. (NASDAQ:PBM) Decreases By 24.7%

Psyence Biomedical Ltd. (NASDAQ:PBM) was the recipient of a significant decline in short interest in the month of March. As of March 15th, there was short interest totalling 194,400 shares, a decline of 24.7% from the February 28th total of 258,100 shares. Approximately 28.3% of the company’s shares are short sold. Based on an average trading volume of 1,930,000 shares, the short-interest ratio is presently 0.1 days.

Psyence Biomedical Stock Performance

Psyence Biomedical stock opened at $0.63 on Friday. Psyence Biomedical has a 12 month low of $0.58 and a 12 month high of $108.00. The stock’s 50-day moving average is $1.17 and its 200-day moving average is $3.72.

Psyence Biomedical (NASDAQ:PBM) last posted its earnings results on Thursday, January 23rd. The company reported $0.51 earnings per share (EPS) for the quarter.

Hedge Funds Weigh In On Psyence Biomedical

A number of hedge funds have recently made changes to their positions in the business. Essential Planning LLC. purchased a new stake in shares of Psyence Biomedical during the 4th quarter valued at about $163,000. Virtu Financial LLC acquired a new stake in Psyence Biomedical in the fourth quarter valued at approximately $27,000. Finally, Harraden Circle Investments LLC purchased a new stake in shares of Psyence Biomedical during the fourth quarter valued at approximately $385,000. Hedge funds and other institutional investors own 77.44% of the company’s stock.

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.