Short Interest in Psyence Biomedical Ltd. (NASDAQ:PBM) Declines By 36.8%

Psyence Biomedical Ltd. (NASDAQ:PBM) was the recipient of a significant drop in short interest during the month of July. As of July 15th, there was short interest totalling 239,600 shares, a drop of 36.8% from the June 30th total of 378,900 shares. Based on an average trading volume of 644,800 shares, the days-to-cover ratio is presently 0.4 days. Approximately 5.1% of the shares of the company are short sold.

Institutional Investors Weigh In On Psyence Biomedical

A hedge fund recently bought a new stake in Psyence Biomedical stock. Virtu Financial LLC bought a new position in shares of Psyence Biomedical Ltd. (NASDAQ:PBM) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 26,419 shares of the company’s stock, valued at approximately $30,000. Virtu Financial LLC owned 0.30% of Psyence Biomedical at the end of the most recent quarter. Institutional investors and hedge funds own 77.44% of the company’s stock.

Psyence Biomedical Stock Performance

Psyence Biomedical stock traded down $0.01 during midday trading on Friday, reaching $0.59. 1,337,377 shares of the company’s stock were exchanged, compared to its average volume of 2,975,854. Psyence Biomedical has a 52 week low of $0.27 and a 52 week high of $4.31. The firm has a 50-day moving average price of $0.54.

About Psyence Biomedical

Newcourt Acquisition Corp is a blank check company. It intends to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or related business combination with one or more businesses. Newcourt Acquisition Corp is based in Oakland, California.