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

Psyence Biomedical Ltd. (NASDAQ:PBM) was the recipient of a large growth in short interest in the month of February. As of February 15th, there was short interest totalling 293,800 shares, a growth of 56.4% from the January 31st total of 187,800 shares. Based on an average trading volume of 2,560,000 shares, the short-interest ratio is currently 0.1 days. Approximately 43.1% of the company’s shares are short sold.

Hedge Funds Weigh In On Psyence Biomedical

A number of hedge funds have recently made changes to their positions in the stock. Harraden Circle Investments LLC acquired a new position in shares of Psyence Biomedical in the 4th quarter valued at $385,000. Virtu Financial LLC acquired a new position in shares of Psyence Biomedical in the 4th quarter valued at $27,000. Finally, Essential Planning LLC. acquired a new position in shares of Psyence Biomedical in the 4th quarter valued at $163,000. Institutional investors and hedge funds own 77.44% of the company’s stock.

Psyence Biomedical Stock Down 2.5 %

PBM stock traded down $0.03 during midday trading on Tuesday, hitting $1.00. The stock had a trading volume of 337,488 shares, compared to its average volume of 710,861. Psyence Biomedical has a 12-month low of $0.87 and a 12-month high of $323.25. The company’s 50-day moving average price is $1.65 and its 200 day moving average price is $7.39.

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