Short Interest in Silo Pharma, Inc. (NASDAQ:SILO) Declines By 21.8%

Silo Pharma, Inc. (NASDAQ:SILO) was the target of a significant drop in short interest in December. As of December 31st, there was short interest totalling 212,900 shares, a drop of 21.8% from the December 15th total of 272,100 shares. Based on an average daily trading volume, of 2,920,000 shares, the days-to-cover ratio is presently 0.1 days. Currently, 5.0% of the company’s stock are sold short.

Silo Pharma Stock Performance

Shares of NASDAQ:SILO traded down $0.05 during mid-day trading on Wednesday, hitting $1.75. 575,190 shares of the company traded hands, compared to its average volume of 19,772,057. The firm’s 50 day simple moving average is $1.06 and its 200 day simple moving average is $1.23. Silo Pharma has a 52-week low of $0.77 and a 52-week high of $4.50.

About Silo Pharma

Silo Pharma Inc operates as a developmental stage biopharmaceutical company. The company is developing therapeutics that address underserved conditions, including stress-induced psychiatric disorders, chronic pain conditions, and central nervous system (CNS) diseases. It focuses on developing traditional therapies and psychedelic treatments in formulations and drug delivery systems.