Silo Pharma, Inc. (NASDAQ:SILO) Short Interest Update

Silo Pharma, Inc. (NASDAQ:SILO) was the target of a significant decrease in short interest during the month of June. As of June 15th, there was short interest totaling 16,790 shares, a decrease of 94.8% from the May 31st total of 322,795 shares. Approximately 1.6% of the company’s shares are short sold. Based on an average trading volume of 41,247 shares, the days-to-cover ratio is presently 0.4 days.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings lowered Silo Pharma from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, June 11th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock has an average rating of “Sell”.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in SILO. Geode Capital Management LLC boosted its position in Silo Pharma by 134.6% in the fourth quarter. Geode Capital Management LLC now owns 92,905 shares of the company’s stock worth $32,000 after purchasing an additional 53,309 shares during the last quarter. AdvisorShares Investments LLC raised its position in Silo Pharma by 10.8% in the first quarter. AdvisorShares Investments LLC now owns 663,965 shares of the company’s stock worth $239,000 after acquiring an additional 64,458 shares during the period. Virtu Financial LLC bought a new stake in Silo Pharma in the third quarter worth about $74,000. DRW Securities LLC purchased a new position in Silo Pharma in the fourth quarter valued at about $113,000. Finally, Anson Funds Management LP purchased a new position in Silo Pharma in the third quarter valued at about $657,000. Institutional investors own 5.58% of the company’s stock.

Silo Pharma Stock Down 7.4%

Shares of NASDAQ SILO opened at $5.76 on Friday. The firm has a market cap of $6.22 million, a PE ratio of -0.89 and a beta of 0.63. Silo Pharma has a 12-month low of $3.32 and a 12-month high of $15.15. The company’s fifty day simple moving average is $6.41 and its 200 day simple moving average is $5.77.

Silo Pharma (NASDAQ:SILO) last posted its quarterly earnings results on Friday, March 27th. The company reported $0.45 earnings per share for the quarter. Silo Pharma had a negative net margin of 6,726.39% and a negative return on equity of 88.40%. The firm had revenue of $0.02 million during the quarter.

Silo Pharma Company Profile

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.