Psyence Biomedical Stock Set to Reverse Split on Tuesday, January 20th (NASDAQ:PBM)

Psyence Biomedical Ltd. (NASDAQ:PBM)’s stock is set to reverse split before the market opens on Tuesday, January 20th. The 1-6.25 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Monday, January 19th.

Psyence Biomedical Trading Down 13.9%

PBM opened at $0.67 on Friday. The stock’s 50 day simple moving average is $1.48 and its 200-day simple moving average is $3.18. The stock has a market cap of $1.25 million, a PE ratio of 0.17 and a beta of 0.32. Psyence Biomedical has a 1 year low of $0.65 and a 1 year high of $17.44.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Psyence Biomedical in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company presently has an average rating of “Sell”.

Hedge Funds Weigh In On Psyence Biomedical

A hedge fund recently bought a new stake in Psyence Biomedical stock. Virtu Financial LLC purchased a new stake in Psyence Biomedical Ltd. (NASDAQ:PBM) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 10,325 shares of the company’s stock, valued at approximately $33,000. Virtu Financial LLC owned 0.55% of Psyence Biomedical at the end of the most recent reporting period. Hedge funds and other institutional investors own 77.44% of the company’s stock.

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.