Skye Bioscience (NASDAQ:SKYE - Get Free Report)'s stock had its "outperform" rating reissued by research analysts at William Blair in a research note issued to investors on Friday,RTT News reports.
Skye Bioscience Trading Up 0.4 %
NASDAQ SKYE traded up $0.01 on Friday, hitting $2.36. 154,600 shares of the company were exchanged, compared to its average volume of 181,370. The company has a market cap of $71.60 million, a P/E ratio of -3.28 and a beta of 1.71. Skye Bioscience has a 1-year low of $1.83 and a 1-year high of $17.65. The firm has a 50 day moving average of $2.59 and a two-hundred day moving average of $2.79.
Skye Bioscience (NASDAQ:SKYE - Get Free Report) last released its earnings results on Thursday, March 20th. The company reported ($0.24) earnings per share for the quarter, topping analysts' consensus estimates of ($0.30) by $0.06. During the same period in the prior year, the company posted ($0.36) EPS. Research analysts anticipate that Skye Bioscience will post -1.04 EPS for the current fiscal year.
Institutional Investors Weigh In On Skye Bioscience
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets grew its holdings in shares of Skye Bioscience by 71.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 47,417 shares of the company's stock valued at $185,000 after buying an additional 19,704 shares during the period. Baker BROS. Advisors LP raised its holdings in Skye Bioscience by 186.9% during the 3rd quarter. Baker BROS. Advisors LP now owns 1,434,634 shares of the company's stock worth $5,609,000 after buying an additional 934,634 shares during the period. State Street Corp boosted its holdings in shares of Skye Bioscience by 7.0% in the third quarter. State Street Corp now owns 354,205 shares of the company's stock valued at $1,385,000 after buying an additional 23,201 shares during the period. Sphera Funds Management LTD. increased its position in shares of Skye Bioscience by 20.4% during the third quarter. Sphera Funds Management LTD. now owns 1,563,522 shares of the company's stock worth $6,113,000 after acquiring an additional 265,210 shares in the last quarter. Finally, Jane Street Group LLC acquired a new stake in shares of Skye Bioscience during the third quarter worth $48,000. Institutional investors own 21.09% of the company's stock.
About Skye Bioscience
(
Get Free Report)
Skye Bioscience, Inc, a clinical stage pharmaceutical company, discovers, develops, and commercializes cannabinoid-based molecules for the treatment of infectious diseases. The company's lead product candidate is SBI-100 used in the treatment of glaucoma and ocular hypertension. It is also developing SBI-200 to treat and manage various eye diseases, including uveitis, dry eye syndrome, macular degeneration and diabetic retinopathy.
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