Skye Bioscience (NASDAQ:SKYE - Get Free Report)'s stock had its "outperform" rating reaffirmed by equities research analysts at William Blair in a report released on Friday,RTT News reports.
Skye Bioscience Trading Up 1.6 %
Shares of SKYE traded up $0.04 during midday trading on Friday, hitting $2.29. The stock had a trading volume of 99,903 shares, compared to its average volume of 179,672. The firm has a market capitalization of $69.32 million, a price-to-earnings ratio of -3.17 and a beta of 1.71. The firm has a 50 day moving average of $2.66. Skye Bioscience has a twelve month low of $1.83 and a twelve month high of $17.65.
Skye Bioscience (NASDAQ:SKYE - Get Free Report) last announced its earnings results on Thursday, March 20th. The company reported ($0.24) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.30) by $0.06. During the same period last year, the business posted ($0.36) earnings per share. On average, sell-side analysts predict that Skye Bioscience will post -1.04 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Skye Bioscience
A number of large investors have recently modified their holdings of SKYE. Virtu Financial LLC bought a new stake in Skye Bioscience during the fourth quarter worth about $29,000. Wells Fargo & Company MN boosted its holdings in shares of Skye Bioscience by 49.0% in the 4th quarter. Wells Fargo & Company MN now owns 11,199 shares of the company's stock valued at $32,000 after buying an additional 3,684 shares during the last quarter. Two Sigma Advisers LP bought a new position in shares of Skye Bioscience in the fourth quarter valued at $32,000. Squarepoint Ops LLC acquired a new position in Skye Bioscience during the fourth quarter worth $38,000. Finally, Jane Street Group LLC bought a new stake in Skye Bioscience during the third quarter worth $48,000. 21.09% of the stock is currently owned by institutional investors and hedge funds.
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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