Psyence Biomedical Ltd. (NASDAQ:PBM) Sees Significant Drop in Short Interest

Psyence Biomedical Ltd. (NASDAQ:PBM) saw a significant decrease in short interest in 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. Based on an average daily volume of 104,900 shares, the short-interest ratio is presently 0.1 days. Approximately 1.8% of the shares of the stock are sold short.

Hedge Funds Weigh In On Psyence Biomedical

An institutional investor recently bought a new position in Psyence Biomedical stock. Virtu Financial LLC acquired a new position in shares of Psyence Biomedical Ltd. (NASDAQ:PBM) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 26,419 shares of the company’s stock, valued at approximately $30,000. Virtu Financial LLC owned approximately 0.30% of Psyence Biomedical at the end of the most recent quarter. Hedge funds and other institutional investors own 77.44% of the company’s stock.

Psyence Biomedical Stock Up 5.1 %

Shares of NASDAQ PBM opened at $3.51 on Friday. Psyence Biomedical has a 12-month low of $3.01 and a 12-month high of $323.25. The firm’s 50-day moving average is $6.38 and its two-hundred day moving average is $26.66.

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.