Skye Bioscience, Inc. (OTCMKTS:SKYE) Sees Large Growth in Short Interest

Skye Bioscience, Inc. (OTCMKTS:SKYE – Get Rating) was the target of a significant increase in short interest in May. As of May 15th, there was short interest totalling 44,700 shares, an increase of 84.7% from the April 30th total of 24,200 shares. Based on an average trading volume of 2,032,700 shares, the days-to-cover ratio is presently 0.0 days.

Skye Bioscience Price Performance

Shares of OTCMKTS:SKYE remained flat at $0.02 during trading on Friday. The company had a trading volume of 364,040 shares, compared to its average volume of 1,622,016. Skye Bioscience has a fifty-two week low of $0.01 and a fifty-two week high of $0.06. The firm’s fifty day simple moving average is $0.02 and its 200-day simple moving average is $0.02. The stock has a market capitalization of $14.57 million, a P/E ratio of -0.30 and a beta of 0.44.

About Skye Bioscience

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Skye Bioscience, Inc is a biopharmaceutical company, which engages in the discovery, development and commercialization of cannabinoid-based therapeutics. It focuses on the treatment of a spectrum of diseases, as well as utilizing bioengineering in drug design. Its product pipeline includes SBI-100 and SBI-200.