Psyence Biomedical Ltd. (NASDAQ:PBM) Short Interest Down 98.4% in November

Posted by Latisha Jones on Nov 28th, 2024

Psyence Biomedical Ltd. (NASDAQ:PBM – Get Free Report) was the recipient of a large decrease in short interest during the month of November. As of November 15th, there was short interest totalling 11,000 shares, a decrease of 98.4% from the October 31st total of 671,900 shares. Approximately 1.8% of the shares of the company are sold short. Based on an average trading volume of 104,900 shares, the short-interest ratio is presently 0.1 days.

Institutional Investors Weigh In On Psyence Biomedical

A hedge fund recently raised its stake in Psyence Biomedical stock. AdvisorShares Investments LLC grew its position in Psyence Biomedical Ltd. (NASDAQ:PBM – Free Report) by 70.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 463,042 shares of the company’s stock after acquiring an additional 191,706 shares during the period. AdvisorShares Investments LLC owned about 5.27% of Psyence Biomedical worth $148,000 at the end of the most recent quarter. Institutional investors and hedge funds own 77.44% of the company’s stock.

Psyence Biomedical Stock Up 5.1 %

Psyence Biomedical stock opened at $3.51 on Thursday. The stock has a 50 day moving average of $0.22 and a two-hundred day moving average of $0.40. Psyence Biomedical has a twelve month low of $3.01 and a twelve month high of $323.25.

Psyence Biomedical Company Profile

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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.