Psyence Biomedical Ltd. (NASDAQ:PBM) Short Interest Down 24.7% in March

Psyence Biomedical Ltd. (NASDAQ:PBM) was the target of a large decrease in short interest in 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. Approximately 28.3% of the shares of the company are sold short. Based on an average daily trading volume, of 1,930,000 shares, the short-interest ratio is currently 0.1 days.

Institutional Investors Weigh In On Psyence Biomedical

Institutional investors and hedge funds have recently modified their holdings of the company. Virtu Financial LLC acquired a new position in Psyence Biomedical during the fourth quarter worth $27,000. Essential Planning LLC. acquired a new position in shares of Psyence Biomedical during the 4th quarter worth $163,000. Finally, Harraden Circle Investments LLC purchased a new stake in shares of Psyence Biomedical in the 4th quarter worth about $385,000. Institutional investors and hedge funds own 77.44% of the company’s stock.

Psyence Biomedical Trading Down 1.3 %

PBM stock traded down $0.01 on Tuesday, reaching $0.59. 45,493 shares of the company’s stock were exchanged, compared to its average volume of 704,736. The stock has a fifty day moving average of $1.15 and a 200-day moving average of $3.57. Psyence Biomedical has a twelve month low of $0.56 and a twelve month high of $108.00.

Psyence Biomedical (NASDAQ:PBM) last announced its quarterly earnings results on Thursday, January 23rd. The company reported $0.51 earnings per share (EPS) for the quarter.

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.