Silo Pharma (NASDAQ:SILO) Stock Price Up 3.6% – Still a Buy?

Shares of Silo Pharma, Inc. (NASDAQ:SILO) rose 3.6% during trading on Thursday . The stock traded as high as $0.3754 and last traded at $0.3689. Approximately 45,852 shares were traded during trading, a decline of 68% from the average daily volume of 142,715 shares. The stock had previously closed at $0.3562.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Silo Pharma in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, Silo Pharma currently has a consensus rating of “Sell”.

Silo Pharma Price Performance

The stock has a market cap of $4.91 million, a PE ratio of -0.39 and a beta of 0.44. The business has a 50 day moving average price of $0.40 and a two-hundred day moving average price of $0.55.

Silo Pharma (NASDAQ:SILO) last announced its quarterly earnings results on Thursday, November 13th. The company reported ($0.12) earnings per share for the quarter. Silo Pharma had a negative net margin of 7,050.00% and a negative return on equity of 107.03%. The firm had revenue of $0.02 million for the quarter.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Virtu Financial LLC purchased a new stake in Silo Pharma in the 3rd quarter worth approximately $74,000. AdvisorShares Investments LLC increased its stake in shares of Silo Pharma by 48.3% during the second quarter. AdvisorShares Investments LLC now owns 184,236 shares of the company’s stock valued at $116,000 after buying an additional 60,000 shares during the period. Finally, Anson Funds Management LP bought a new position in shares of Silo Pharma during the third quarter valued at approximately $657,000. Institutional investors own 5.58% of the company’s stock.

About Silo Pharma

Silo Pharma, Inc (NASDAQ:SILO) is a clinical-stage biotechnology company focused on the discovery, development and commercialization of novel psychedelic and related synthetic therapies. Headquartered in New York City, the company applies proprietary chemistry and targeted drug delivery approaches to advance candidates that address critical unmet needs across oncology, neurology and mental health.

The company’s preclinical and early-stage clinical pipeline comprises several programs that explore serotonin receptor modulators, synthetic analogs of classic psychoactive compounds and neuroprotective agents.