Barclays PLC Has $226,000 Position in Skye Bioscience, Inc. (NASDAQ:SKYE)

Barclays PLC lifted its holdings in Skye Bioscience, Inc. (NASDAQ:SKYE) by 36.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 57,889 shares of the company’s stock after acquiring an additional 15,551 shares during the period. Barclays PLC owned approximately 0.19% of Skye Bioscience worth $226,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in SKYE. Logos Global Management LP bought a new position in shares of Skye Bioscience in the 2nd quarter worth about $10,425,000. Baker BROS. Advisors LP increased its position in Skye Bioscience by 186.9% in the 3rd quarter. Baker BROS. Advisors LP now owns 1,434,634 shares of the company’s stock valued at $5,609,000 after buying an additional 934,634 shares in the last quarter. CVI Holdings LLC bought a new stake in Skye Bioscience in the 2nd quarter valued at about $5,445,000. Driehaus Capital Management LLC bought a new stake in Skye Bioscience in the 2nd quarter valued at about $5,213,000. Finally, Point72 Asset Management L.P. bought a new stake in Skye Bioscience in the 2nd quarter valued at about $4,486,000. 21.09% of the stock is owned by institutional investors.

Skye Bioscience Stock Up 1.5 %

Shares of NASDAQ SKYE opened at $2.70 on Wednesday. Skye Bioscience, Inc. has a fifty-two week low of $2.25 and a fifty-two week high of $19.41. The company has a 50 day simple moving average of $2.78 and a two-hundred day simple moving average of $3.93.

Analysts Set New Price Targets

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

Insider Buying and Selling

In other news, Director Paul A. Grayson sold 86,244 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $4.99, for a total value of $430,357.56. Following the sale, the director now directly owns 259,701 shares in the company, valued at $1,295,907.99. The trade was a 24.93 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Kaitlyn Arsenault sold 43,206 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $4.99, for a total transaction of $215,597.94. Following the transaction, the chief financial officer now owns 166,342 shares in the company, valued at $830,046.58. The trade was a 20.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 232,431 shares of company stock worth $1,160,360. 3.00% of the stock is owned by insiders.

Skye Bioscience Company Profile

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.