Cantor Fitzgerald Forecasts Skye Bioscience FY2025 Earnings

Skye Bioscience, Inc. (NASDAQ:SKYE) – Investment analysts at Cantor Fitzgerald issued their FY2025 earnings estimates for shares of Skye Bioscience in a research note issued to investors on Tuesday, January 21st. Cantor Fitzgerald analyst K. Kluska anticipates that the company will post earnings per share of ($1.14) for the year. The consensus estimate for Skye Bioscience’s current full-year earnings is ($1.04) per share.

Separately, Scotiabank assumed coverage on Skye Bioscience in a research report on Monday, September 30th. They set a “sector outperform” rating and a $20.00 price target on the stock. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $18.67.

Skye Bioscience Trading Up 0.8 %

Skye Bioscience stock opened at $2.61 on Wednesday. The business’s 50 day simple moving average is $2.75 and its 200 day simple moving average is $3.89. Skye Bioscience has a 12 month low of $2.25 and a 12 month high of $19.41.

Institutional Investors Weigh In On Skye Bioscience

Institutional investors and hedge funds have recently made changes to their positions in the business. Bank of New York Mellon Corp bought a new position in Skye Bioscience in the 2nd quarter worth about $471,000. Rhumbline Advisers bought a new position in shares of Skye Bioscience in the second quarter worth approximately $158,000. Logos Global Management LP purchased a new stake in Skye Bioscience in the second quarter valued at approximately $10,425,000. Point72 DIFC Ltd bought a new stake in Skye Bioscience during the second quarter valued at approximately $48,000. Finally, Cubist Systematic Strategies LLC purchased a new position in Skye Bioscience in the 2nd quarter worth approximately $30,000. Hedge funds and other institutional investors own 21.09% of the company’s stock.

Insider Activity at Skye Bioscience

In other news, insider Tuan Tu Diep sold 19,489 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $4.99, for a total value of $97,250.11. Following the sale, the insider now directly owns 82,259 shares of the company’s stock, valued at approximately $410,472.41. This represents a 19.15 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Paul A. Grayson sold 86,244 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $4.99, for a total transaction of $430,357.56. Following the transaction, the director now directly owns 259,701 shares of the company’s stock, valued at approximately $1,295,907.99. This represents a 24.93 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 232,431 shares of company stock worth $1,160,360. Corporate insiders own 3.00% of the company’s stock.

About Skye Bioscience

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.