10,142 Shares in Skye Bioscience, Inc. (NASDAQ:SKYE) Purchased by Virtu Financial LLC

Virtu Financial LLC bought a new stake in shares of Skye Bioscience, Inc. (NASDAQ:SKYE) during the 4th quarter, HoldingsChannel reports. The firm bought 10,142 shares of the company’s stock, valued at approximately $29,000.

Other large investors also recently made changes to their positions in the company. BNP Paribas Financial Markets boosted its holdings in shares of Skye Bioscience by 71.1% during the third quarter. BNP Paribas Financial Markets now owns 47,417 shares of the company’s stock worth $185,000 after purchasing an additional 19,704 shares during the period. Jane Street Group LLC purchased a new stake in Skye Bioscience in the 3rd quarter worth approximately $48,000. Geode Capital Management LLC boosted its stake in shares of Skye Bioscience by 4.2% during the 3rd quarter. Geode Capital Management LLC now owns 385,793 shares of the company’s stock valued at $1,509,000 after buying an additional 15,614 shares during the period. Barclays PLC grew its holdings in shares of Skye Bioscience by 36.7% during the 3rd quarter. Barclays PLC now owns 57,889 shares of the company’s stock valued at $226,000 after acquiring an additional 15,551 shares in the last quarter. Finally, State Street Corp grew its holdings in shares of Skye Bioscience by 7.0% during the 3rd quarter. State Street Corp now owns 354,205 shares of the company’s stock valued at $1,385,000 after acquiring an additional 23,201 shares in the last quarter. Institutional investors and hedge funds own 21.09% of the company’s stock.

Skye Bioscience Stock Performance

SKYE opened at $1.40 on Wednesday. The company has a market cap of $43.37 million, a PE ratio of -1.94 and a beta of 1.71. The stock has a 50-day moving average of $2.36 and a 200-day moving average of $2.71. Skye Bioscience, Inc. has a 52-week low of $1.37 and a 52-week high of $17.65.

Skye Bioscience (NASDAQ:SKYE) last announced its earnings results on Thursday, March 20th. The company reported ($0.24) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.06. During the same period in the prior year, the firm posted ($0.36) EPS. On average, research analysts predict that Skye Bioscience, Inc. will post -1.04 earnings per share for the current year.

Analyst Ratings Changes

SKYE has been the subject of a number of research reports. William Blair reissued an “outperform” rating on shares of Skye Bioscience in a research report on Friday, March 21st. Craig Hallum reduced their price target on Skye Bioscience from $18.00 to $14.00 and set a “buy” rating for the company in a report on Friday, March 21st. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $18.00.

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.