Bank of New York Mellon Corp purchased a new stake in Skye Bioscience, Inc. (NASDAQ:SKYE – Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 58,778 shares of the company’s stock, valued at approximately $471,000. Bank of New York Mellon Corp owned 0.21% of Skye Bioscience as of its most recent SEC filing.
Analysts Set New Price Targets
Several research analysts have weighed in on the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $14.00 target price on shares of Skye Bioscience in a research note on Friday, September 20th. Piper Sandler reissued an “overweight” rating and issued a $20.00 price objective on shares of Skye Bioscience in a research note on Friday, September 20th. Craig Hallum started coverage on shares of Skye Bioscience in a research report on Tuesday, July 9th. They set a “buy” rating and a $18.00 price objective for the company. Finally, JMP Securities assumed coverage on shares of Skye Bioscience in a report on Tuesday, September 10th. They issued an “outperform” rating and a $15.00 target price on the stock. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $18.40.
View Our Latest Research Report on Skye Bioscience
Insider Activity
Skye Bioscience Price Performance
Skye Bioscience stock opened at $4.01 on Wednesday. Skye Bioscience, Inc. has a one year low of $1.44 and a one year high of $19.41. The business has a fifty day moving average of $5.70 and a two-hundred day moving average of $6.15.
Skye Bioscience (NASDAQ:SKYE – Get Free Report) last announced its quarterly earnings data on Friday, August 9th. The company reported ($0.20) EPS for the quarter, meeting the consensus estimate of ($0.20). On average, analysts expect that Skye Bioscience, Inc. will post -1.06 earnings per share for the current fiscal year.
Skye Bioscience Company Profile
Skye Bioscience, Inc, a clinical stage pharmaceutical company, discovers, develops, and commercializes cannabinoid-based molecules for the treatment of infectious diseases. The company's lead product candidate is SBI-100 used in the treatment of glaucoma and ocular hypertension. It is also developing SBI-200 to treat and manage various eye diseases, including uveitis, dry eye syndrome, macular degeneration and diabetic retinopathy.
Recommended Stories
- Five stocks we like better than Skye Bioscience
- How to Choose Top Rated Stocks
- Biohaven Stock Soars on Drug Trial Results: Time to Jump In?
- Upcoming IPO Stock Lockup Period, Explained
- Is AMD a Legitimate Threat to NVIDIA? What Investors Should Watch
- How is Compound Interest Calculated?
- Novo Nordisk’s Setback Won’t Last: A Game-Changing Drug Emerges
Want to see what other hedge funds are holding SKYE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Skye Bioscience, Inc. (NASDAQ:SKYE – Free Report).
Receive News & Ratings for Skye Bioscience Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Skye Bioscience and related companies with MarketBeat.com's FREE daily email newsletter.