10,142 Shares in Skye Bioscience, Inc. (NASDAQ:SKYE) Acquired by Virtu Financial LLC

Virtu Financial LLC acquired a new position in shares of Skye Bioscience, Inc. (NASDAQ:SKYE) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 10,142 shares of the company’s stock, valued at approximately $29,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. BNP Paribas Financial Markets grew its holdings in shares of Skye Bioscience by 71.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 47,417 shares of the company’s stock worth $185,000 after purchasing an additional 19,704 shares during the last quarter. State Street Corp grew its stake in Skye Bioscience by 7.0% during the third quarter. State Street Corp now owns 354,205 shares of the company’s stock worth $1,385,000 after buying an additional 23,201 shares during the last quarter. Sphera Funds Management LTD. increased its holdings in shares of Skye Bioscience by 20.4% during the third quarter. Sphera Funds Management LTD. now owns 1,563,522 shares of the company’s stock worth $6,113,000 after buying an additional 265,210 shares in the last quarter. Jane Street Group LLC bought a new position in shares of Skye Bioscience in the third quarter valued at approximately $48,000. Finally, Barclays PLC boosted its holdings in shares of Skye Bioscience by 36.7% in the 3rd quarter. Barclays PLC now owns 57,889 shares of the company’s stock worth $226,000 after acquiring an additional 15,551 shares in the last quarter. 21.09% of the stock is owned by institutional investors.

Skye Bioscience Stock Performance

NASDAQ SKYE opened at $1.40 on Wednesday. The stock has a market capitalization of $43.37 million, a P/E ratio of -1.94 and a beta of 1.71. Skye Bioscience, Inc. has a 52 week low of $1.37 and a 52 week high of $17.65. The stock has a fifty day moving average of $2.36 and a 200-day moving average of $2.71.

Skye Bioscience (NASDAQ:SKYE) last announced its quarterly earnings data on Thursday, March 20th. The company reported ($0.24) EPS for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.06. During the same period last year, the business earned ($0.36) earnings per share. Equities research analysts forecast that Skye Bioscience, Inc. will post -1.04 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

SKYE has been the subject of a number of recent analyst reports. Craig Hallum dropped their price target on Skye Bioscience from $18.00 to $14.00 and set a “buy” rating for the company in a report on Friday, March 21st. William Blair reaffirmed an “outperform” rating on shares of Skye Bioscience in a report on Friday, March 21st. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $18.00.

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.