Psyence Biomedical Ltd. (NASDAQ:PBM) Short Interest Update

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

Psyence Biomedical Stock Performance

Shares of PBM 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 company has a 50-day moving average of $1.17 and a two-hundred day moving average of $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.

Institutional Trading of Psyence Biomedical

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Essential Planning LLC. acquired a new stake in shares of Psyence Biomedical during the 4th quarter worth about $163,000. Harraden Circle Investments LLC acquired a new stake in Psyence Biomedical during the fourth quarter worth approximately $385,000. Finally, Virtu Financial LLC purchased a new stake in Psyence Biomedical in the 4th quarter worth approximately $27,000. Hedge funds and other institutional investors own 77.44% of the company’s stock.

About Psyence Biomedical

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.