Skye Bioscience (SKYE) Stock Price, News & Analysis

Company Overview

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. It has license agreement with university of Mississippi. The company was formerly known as Emerald Bioscience, Inc. and changed its name to Skye Bioscience, Inc. in January 2021. The company is headquartered in San Diego, California.

Key Stats

• Today's Range: $4.23 to $4.55
• 50-Day Range: $4.23 to $5.71
• 52-Week Range: $1.44 to $19.41
• Volume: 107,300 shs
• Average Volume: 179,470 shs
• Market Capitalization: $129.86 million
• P/E Ratio: N/A
• Dividend Yield: N/A
• Price Target: $18.67
• Consensus Rating: Buy

Skye Bioscience Stock Analysis - MarketRank™

Skye Bioscience scored higher than 26% of companies evaluated by MarketBeat, and ranked 846th out of 963 stocks in the medical sector. Scores are calculated by averaging available category scores, with extra weight given to analysis and valuation.

Analyst's Opinion

• Score: 3.5 / 5
• Analyst Rating: Buy

Consensus Rating

Skye Bioscience has received a consensus rating of Buy. The company's average rating score is 3.00, and is based on 6 buy ratings, no hold ratings, and no sell ratings.

Amount of Analyst Coverage

Skye Bioscience has only been the subject of 4 research reports in the past 90 days.

Earnings and Valuation

• Score: 0.0 / 5
• Proj. Earnings Growth: Decreasing

Earnings Growth

Earnings for Skye Bioscience are expected to decrease in the coming year, from ($0.96) to ($1.21) per share.

Price to Book Value per Share Ratio

Skye Bioscience has a P/B Ratio of 1.71. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.

Short Interest

• Score: 1.0 / 5
• Short Interest Level: Bearish

Percentage of Shares Shorted

8.88% of the float of Skye Bioscience has been sold short.

Short Interest Ratio / Days to Cover

Skye Bioscience has a short interest ratio ("days to cover") of 4.9.

Change versus previous month

Short interest in Skye Bioscience has recently increased by 10.56%, indicating that investor sentiment is decreasing significantly.

Dividend

• Score: 0.0 / 5
• Dividend Strength: N/A

Dividend Yield

Skye Bioscience does not currently pay a dividend.

Dividend Growth

Skye Bioscience does not have a long track record of dividend growth.

Sustainability and ESG

• Score: N/A
• Environmental Score: N/A

Percentage of Shares Shorted

8.88% of the float of Skye Bioscience has been sold short.

Short Interest Ratio / Days to Cover

Skye Bioscience has a short interest ratio ("days to cover") of 4.9.

Change versus previous month

Short interest in Skye Bioscience has recently increased by 10.56%, indicating that investor sentiment is decreasing significantly.

News and Social Media

• Score: 1.4 / 5
• News Sentiment: -0.41

News Sentiment

Skye Bioscience has a news sentiment score of -0.41. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This is a lower news sentiment than the 0.46 average news sentiment score of Medical companies.

News Coverage This Week

MarketBeat has tracked 15 news articles for Skye Bioscience this week, compared to 2 articles on an average week.

Search Interest

4 people have searched for SKYE on MarketBeat in the last 30 days. This is an increase of 33% compared to the previous 30 days.

MarketBeat Follows

Only 1 people have added Skye Bioscience to their MarketBeat watchlist in the last 30 days. This is a decrease of -93% compared to the previous 30 days.

Company Ownership

• Score: 0.8 / 5
• Insider Trading: Selling Shares

Insider Buying vs. Insider Selling

In the past three months, Skye Bioscience insiders have sold more of their company's stock than they have bought. Specifically, they have bought $0.00 in company stock and sold $2,910,713.00 in company stock.

Percentage Held by Insiders

Only 3.00% of the stock of Skye Bioscience is held by insiders.

Percentage Held by Institutions

Only 21.09% of the stock of Skye Bioscience is held by institutions.

SKYE Stock Analysis - Frequently Asked Questions

How have SKYE shares performed this year?

Skye Bioscience's stock was trading at $2.72 at the beginning of the year. Since then, SKYE stock has increased by 57.4% and is now trading at $4.28.
View the best growth stocks for 2024 here.

How were Skye Bioscience's earnings last quarter?

Skye Bioscience, Inc. (NASDAQ:SKYE) posted its quarterly earnings results on Friday, August, 9th. The company reported ($0.20) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.20).

Who are Skye Bioscience's major shareholders?

Top institutional investors of Skye Bioscience include Sphera Funds Management LTD. (5.15%), Baker BROS. Advisors LP (4.73%), Point72 Asset Management L.P. (1.37%) and Geode Capital Management LLC (1.27%). Insiders that own company stock include Punit Dhillon, Paul A Grayson, Kaitlyn Arsenault, Tuan Tu Diep and Andrew J Schwab.
View institutional ownership trends.

How do I buy shares of Skye Bioscience?

Shares of SKYE stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
Compare Top Brokerages Here.

What other stocks do shareholders of Skye Bioscience own?

Based on aggregate information from My MarketBeat watchlists, some other companies that Skye Bioscience investors own include Meta Platforms (META), NVIDIA (NVDA), Advanced Micro Devices (AMD), JPMorgan Chase & Co. (JPM), Netflix (NFLX), Tesla (TSLA) and Alphabet (GOOG).

Company Calendar

• Last Earnings: 8/09/2024
• Today: 11/20/2024
• Fiscal Year End: 12/31/2024
• Next Earnings (Estimated): 3/28/2025

Industry, Sector and Symbol

• Stock Exchange: NASDAQ
• Sector: Medical
• Industry: Pharmaceutical preparations
• Sub-Industry: Pharmaceutical Products
• Current Symbol: NASDAQ:SKYE
• Previous Symbol: NASDAQ:SKYE
• CUSIP: N/A
• CIK: 1516551
• Web: skyebioscience.com
• Phone: 858-410-0266
• Fax: N/A
• Employees: 11
• Year Founded: N/A

Price Target and Rating

• Average Stock Price Target: $18.67
• High Stock Price Target: $25.00
• Low Stock Price Target: $14.00
• Potential Upside/Downside: +336.1%
• Consensus Rating: Buy
• Rating Score (0-4): 3.00
• Research Coverage: 6 Analysts

Profitability

• EPS (Most Recent Fiscal Year): N/A
• Trailing P/E Ratio: N/A
• Forward P/E Ratio: N/A
• P/E Growth: N/A
• Net Income: $-37,650,000.00
• Net Margins: N/A
• Pretax Margin: N/A
• Return on Equity: -45.78%
• Return on Assets: -37.44%

Debt

• Debt-to-Equity Ratio: N/A
• Current Ratio: 14.19
• Quick Ratio: 14.19

Sales & Book Value

• Annual Sales: N/A
• Price / Sales: N/A
• Cash Flow: N/A
• Price / Cash Flow: N/A
• Book Value: ($0.17) per share
• Price / Book: -25.18

Miscellaneous

• Outstanding Shares: 30,340,000
• Free Float: 29,428,000
• Market Cap: $129.86 million
• Optionable: Optionable
• Beta: 1.74