Psyence Biomedical Ltd. (NASDAQ:PBM) Short Interest Up 1,224.0% in December

Psyence Biomedical Ltd. (NASDAQ:PBM) was the recipient of a large growth in short interest in the month of December. As of December 15th, there was short interest totalling 137,700 shares, a growth of 1,224.0% from the November 30th total of 10,400 shares. Based on an average daily volume of 2,300,000 shares, the days-to-cover ratio is currently 0.1 days. Currently, 24.8% of the shares of the company are sold short.

Institutional Investors Weigh In On Psyence Biomedical

A hedge fund recently raised its stake in Psyence Biomedical stock. AdvisorShares Investments LLC grew its holdings in Psyence Biomedical Ltd. (NASDAQ:PBM) by 70.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 463,042 shares of the company’s stock after purchasing an additional 191,706 shares during the period. AdvisorShares Investments LLC owned approximately 5.27% of Psyence Biomedical worth $148,000 at the end of the most recent quarter. 77.44% of the stock is currently owned by institutional investors and hedge funds.

Psyence Biomedical Stock Performance

PBM stock traded up $0.02 during mid-day trading on Thursday, hitting $2.45. The company had a trading volume of 498,033 shares, compared to its average volume of 678,295. Psyence Biomedical has a 12 month low of $1.51 and a 12 month high of $323.25. The stock’s fifty day moving average price is $4.28 and its two-hundred day moving average price is $18.69.

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.