Psyence Biomedical Ltd. (NASDAQ:PBM) Short Interest Up 181.5% in October

Psyence Biomedical Ltd. (NASDAQ:PBM) saw a significant increase in short interest in the month of October. As of October 15th, there was short interest totalling 605,600 shares, an increase of 181.5% from the September 30th total of 215,100 shares. Approximately 6.5% of the company’s shares are short sold. Based on an average daily volume of 6,080,000 shares, the short-interest ratio is currently 0.1 days.

Psyence Biomedical Stock Performance

Psyence Biomedical stock opened at $0.10 on Friday. The firm has a 50-day moving average of $0.21 and a 200-day moving average of $0.50. Psyence Biomedical has a 1-year low of $0.08 and a 1-year high of $4.31.

Institutional Trading of Psyence Biomedical

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

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.