Psyence Biomedical (NASDAQ:PBM) Stock Price Down 7% – Time to Sell?

Psyence Biomedical Ltd. (NASDAQ:PBM)’s stock price traded down 7% on Tuesday . The company traded as low as $3.04 and last traded at $3.34. 325,225 shares were traded during mid-day trading, an increase of 471% from the average session volume of 56,942 shares. The stock had previously closed at $3.59.

Psyence Biomedical Price Performance

The stock has a 50-day moving average of $0.22 and a two-hundred day moving average of $0.40.

Institutional Trading of Psyence Biomedical

An institutional investor recently bought a new position in Psyence Biomedical stock. Virtu Financial LLC acquired a new stake in Psyence Biomedical Ltd. (NASDAQ:PBM) in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 26,419 shares of the company’s stock, valued at approximately $30,000. Virtu Financial LLC owned about 0.30% of Psyence Biomedical as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other institutional investors own 77.44% of the company’s stock.

Psyence Biomedical Company Profile

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.