Wall Street Zen Upgrades Psyence Biomedical (NASDAQ:PBM) to Hold

Psyence Biomedical (NASDAQ:PBM) was upgraded by research analysts at Wall Street Zen to a “hold” rating in a research report issued on Saturday.

Psyence Biomedical Stock Down 2.2%

PBM stock opened at $4.54 on Friday. Psyence Biomedical has a one year low of $2.92 and a one year high of $699.19. The company has a fifty day moving average price of $4.30 and a two-hundred day moving average price of $9.36.

Institutional Trading of Psyence Biomedical

Hedge funds and other institutional investors have recently modified their holdings of the stock. Harraden Circle Investments LLC bought a new position in Psyence Biomedical in the 4th quarter valued at about $385,000. Virtu Financial LLC acquired a new position in shares of Psyence Biomedical in the fourth quarter valued at approximately $27,000. Finally, Essential Planning LLC. acquired a new position in shares of Psyence Biomedical in the fourth quarter valued at approximately $163,000. Institutional investors own 77.44% of the company’s stock.

Psyence Biomedical Company Profile

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.