Psyence Biomedical Ltd. (NASDAQ:PBM - Get Free Report)'s share price traded down 7% on Tuesday . The stock traded as low as $3.04 and last traded at $3.34. 325,225 shares were traded during trading, an increase of 471% from the average session volume of 56,942 shares. The stock had previously closed at $3.59.
Psyence Biomedical Trading Up 5.1 %
The business has a fifty day simple moving average of $0.15 and a two-hundred day simple moving average of $0.38.
Institutional Inflows and Outflows
A hedge fund recently raised its stake in Psyence Biomedical stock. AdvisorShares Investments LLC raised its position in shares of Psyence Biomedical Ltd. (NASDAQ:PBM - Free Report) by 70.7% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 463,042 shares of the company's stock after purchasing an additional 191,706 shares during the quarter. AdvisorShares Investments LLC owned 5.27% of Psyence Biomedical worth $148,000 at the end of the most recent quarter. 77.44% of the stock is owned by hedge funds and other institutional investors.
About Psyence Biomedical
(
Get Free Report)
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.
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