Silo Pharma, Inc. (NASDAQ:SILO) Sees Significant Increase in Short Interest

Silo Pharma, Inc. (NASDAQ:SILO) was the recipient of a significant increase in short interest during the month of April. As of April 15th, there was short interest totalling 115,000 shares, an increase of 87.3% from the March 31st total of 61,400 shares. Based on an average daily volume of 216,600 shares, the short-interest ratio is presently 0.5 days. Currently, 4.5% of the company’s shares are short sold.

Silo Pharma Price Performance

Silo Pharma stock traded down $0.03 during midday trading on Friday, hitting $1.85. 55,867 shares of the stock were exchanged, compared to its average volume of 440,773. Silo Pharma has a fifty-two week low of $1.22 and a fifty-two week high of $3.05. The stock’s 50-day simple moving average is $1.80 and its 200 day simple moving average is $1.60.

About Silo Pharma

Silo Pharma. Inc, a developmental stage biopharmaceutical company, focuses on merging traditional therapeutics with psychedelic research. The company's developing solutions to address various underserved conditions. It also seeks to acquire and/or develop intellectual property or technology rights from universities and researchers to treat rare diseases, including the use of psychedelic drugs, such as psilocybin, and the benefits they may have in certain cases involving depression, mental health issues, and neurological disorders.