Silo Pharma (NASDAQ:SILO) Trading Up 1.2% – Here’s What Happened

Silo Pharma, Inc. (NASDAQ:SILO)’s share price shot up 1.2% during mid-day trading on Friday . The stock traded as high as $0.54 and last traded at $0.5150. 2,112,380 shares traded hands during trading, a decline of 79% from the average session volume of 9,894,242 shares. The stock had previously closed at $0.5090.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Silo Pharma in a report on Monday, December 29th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Silo Pharma has an average rating of “Sell”.

Silo Pharma Trading Up 1.2%

The stock has a market cap of $8.38 million, a P/E ratio of -0.95 and a beta of 0.35. The firm has a 50-day simple moving average of $0.36 and a two-hundred day simple moving average of $0.42.

Silo Pharma (NASDAQ:SILO) last posted its quarterly earnings data on Friday, March 27th. The company reported $0.03 earnings per share for the quarter. The firm had revenue of $0.02 million for the quarter. Silo Pharma had a negative return on equity of 83.53% and a negative net margin of 5,870.83%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in SILO. Anson Funds Management LP bought a new position in Silo Pharma during the 3rd quarter worth $657,000. DRW Securities LLC bought a new position in Silo Pharma during the 4th quarter worth $113,000. AdvisorShares Investments LLC increased its position in Silo Pharma by 64.3% during the 4th quarter. AdvisorShares Investments LLC now owns 599,507 shares of the company’s stock worth $204,000 after buying an additional 234,629 shares during the period. Virtu Financial LLC bought a new position in Silo Pharma during the 3rd quarter worth $74,000. Finally, Geode Capital Management LLC increased its position in Silo Pharma by 134.6% during the 4th quarter. Geode Capital Management LLC now owns 92,905 shares of the company’s stock worth $32,000 after buying an additional 53,309 shares during the period. 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.