Short Interest in Psyence Biomedical Ltd. (NASDAQ:PBM) Declines By 24.7%

Psyence Biomedical Ltd. (NASDAQ:PBM) was the target of a significant drop in short interest in March. As of March 15th, there was short interest totalling 194,400 shares, a drop of 24.7% from the February 28th total of 258,100 shares. Based on an average daily trading volume, of 1,930,000 shares, the days-to-cover ratio is presently 0.1 days. Approximately 28.3% of the shares of the stock are sold short.

Psyence Biomedical Stock Down 4.5 %

NASDAQ PBM traded down $0.03 during trading on Monday, hitting $0.60. 83,908 shares of the company’s stock were exchanged, compared to its average volume of 707,355. Psyence Biomedical has a fifty-two week low of $0.56 and a fifty-two week high of $108.00. The stock’s 50 day moving average price is $1.17 and its two-hundred day moving average price is $3.65.

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of PBM. Virtu Financial LLC acquired a new position in Psyence Biomedical in the 4th quarter worth about $27,000. Essential Planning LLC. bought a new stake in shares of Psyence Biomedical during the fourth quarter worth about $163,000. Finally, Harraden Circle Investments LLC bought a new stake in shares of Psyence Biomedical during the fourth quarter worth about $385,000. 77.44% of the stock is currently owned by institutional investors.

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.