Short Interest in Psyence Biomedical Ltd. (NASDAQ:PBM) Drops By 98.4%

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 trading volume of 104,900 shares, the short-interest ratio is currently 0.1 days. Currently, 1.8% of the shares of the company are short sold.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Psyence Biomedical stock. Virtu Financial LLC bought a new stake in Psyence Biomedical Ltd. (NASDAQ:PBM) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 26,419 shares of the company’s stock, valued at approximately $30,000. Virtu Financial LLC owned 0.30% of Psyence Biomedical at the end of the most recent reporting period. Hedge funds and other institutional investors own 77.44% of the company’s stock.

Psyence Biomedical Trading Up 5.1 %

PBM opened at $3.51 on Thursday. Psyence Biomedical has a one year low of $3.01 and a one year high of $323.25. The business’s 50-day simple moving average is $0.22 and its 200-day simple moving average is $0.40.

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.