Skye Bioscience Inc’s recent filing unveils that its Director Schwab Andrew J. unloaded Company’s shares for reported $1.67 million on Sep 11 ’24. In the deal valued at $6.60 per share,252,500 shares were sold. As a result of this transaction, Schwab Andrew J. now holds 66,356 shares worth roughly $0.31 million.
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Then, Schwab Andrew J. sold 13,837 shares, generating $83,852 in total proceeds. Upon selling the shares at $6.06, the Director now owns 66,277 shares.
Before that, 5AM Partners VII, LLC sold 252,500 shares. Skye Bioscience Inc shares valued at $1,666,500 were divested by the 10% Owner at a price of $6.60 per share. As a result of the transaction, 5AM Partners VII, LLC now holds 66,356 shares, worth roughly $0.31 million.
Scotiabank initiated its Skye Bioscience Inc [SKYE] rating to a Sector outperform in a research note published on September 30, 2024; the price target was $20. A number of analysts have revised their coverage, including JMP Securities’s analysts, who began to cover the stock in early September with a ‘”a Mkt outperform”‘ rating. Craig Hallum began covering SKYE with “Buy” recommendation on July 09, 2024. Cantor Fitzgerald started covering the stock on May 23, 2024. It rated SKYE as “an Overweight”.
Price Performance Review of SKYE
On Monday, Skye Bioscience Inc [NASDAQ:SKYE] saw its stock jump 1.73% to $4.71. Over the last five days, the stock has gained 15.16%. Skye Bioscience Inc shares have risen nearly 73.16% since the year began. Nevertheless, the stocks have risen 80.88% over the past one year. While a 52-week high of $19.41 was reached on 03/04/24, a 52-week low of $1.44 was recorded on 01/25/24. SMA at 50 days reached $4.90, while 200 days put it at $8.15.
Levels Of Support And Resistance For SKYE Stock
The 24-hour chart illustrates a support level at 4.31, which if violated will result in even more drops to 3.92. On the upside, there is a resistance level at 5.29. A further resistance level may holdings at 5.88. The Relative Strength Index (RSI) on the 14-day chart is 55.07, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.50, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 37.02%. Stochastics %K at 78.92% indicates the stock is a holding.
How much short interest is there in Skye Bioscience Inc?
A steep rise in short interest was recorded in Skye Bioscience Inc stocks on 2024-09-30, growing by 67505.0 shares to a total of 1.21 million shares. Yahoo Finance data shows the prior-month short interest on 2024-08-30 was 1.15 million shares. There was a rise of 5.56%, which implies that there is a positive sentiment for the stock.
The most recent change occurred on April 12, 2024 when Oppenheimer began covering the stock and recommended ‘”an Outperform”‘ rating along with a $25 price target.
