Silo Pharma, Inc. (NASDAQ:SILO – Get Free Report)’s stock price rose 3.9% during trading on Friday . The stock traded as high as $1.65 and last traded at $1.60. Approximately 34,003 shares changed hands during mid-day trading, a decline of 70% from the average daily volume of 113,204 shares. The stock had previously closed at $1.54.
Silo Pharma Price Performance
The company’s 50 day simple moving average is $1.52 and its 200 day simple moving average is $1.59.
Institutional Investors Weigh In On Silo Pharma
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. UBS Group AG purchased a new stake in Silo Pharma in the 3rd quarter valued at about $37,000. State Street Corp purchased a new stake in Silo Pharma in the 1st quarter valued at about $26,000. Financial Advocates Investment Management purchased a new stake in Silo Pharma in the 4th quarter valued at about $50,000. Finally, Geode Capital Management LLC purchased a new stake in Silo Pharma in the 1st quarter valued at about $51,000. Hedge funds and other institutional investors own 3.22% of the company’s stock.
About Silo Pharma
Silo Pharma. Inc, a developmental stage biopharmaceutical company, focuses on merging traditional therapeutics with psychedelic research. The company's developing solutions to address various underserved conditions. It also seeks to acquire and/or develop intellectual property or technology rights from universities and researchers to treat rare diseases, including the use of psychedelic drugs, such as psilocybin, and the benefits they may have in certain cases involving depression, mental health issues, and neurological disorders.
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