JPMorgan Chase & Co. Has $44,000 Stock Holdings in Skye Bioscience, Inc. (NASDAQ:SKYE)

JPMorgan Chase & Co. decreased its holdings in shares of Skye Bioscience, Inc. (NASDAQ:SKYE) by 24.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,362 shares of the company’s stock after selling 3,609 shares during the period. JPMorgan Chase & Co.’s holdings in Skye Bioscience were worth $44,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in SKYE. Barclays PLC boosted its holdings in shares of Skye Bioscience by 36.7% during the 3rd quarter. Barclays PLC now owns 57,889 shares of the company’s stock worth $226,000 after buying an additional 15,551 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Skye Bioscience by 4.2% during the 3rd quarter. Geode Capital Management LLC now owns 385,793 shares of the company’s stock valued at $1,509,000 after acquiring an additional 15,614 shares during the period. Jane Street Group LLC acquired a new position in shares of Skye Bioscience during the 3rd quarter valued at $48,000. Sphera Funds Management LTD. boosted its stake in 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 acquiring an additional 265,210 shares in the last quarter. Finally, State Street Corp grew its holdings in Skye Bioscience by 7.0% in the third quarter. State Street Corp now owns 354,205 shares of the company’s stock worth $1,385,000 after purchasing an additional 23,201 shares during the period. Institutional investors and hedge funds own 21.09% of the company’s stock.

Insider Activity at Skye Bioscience

In other Skye Bioscience news, CFO Kaitlyn Arsenault sold 43,206 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $4.99, for a total transaction of $215,597.94. Following the completion of the sale, the chief financial officer now owns 166,342 shares in the company, valued at approximately $830,046.58. The trade was a 20.62 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Paul A. Grayson sold 86,244 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $4.99, for a total transaction of $430,357.56. Following the transaction, the director now owns 259,701 shares in the company, valued at approximately $1,295,907.99. The trade was a 24.93 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 232,431 shares of company stock valued at $1,160,360 in the last three months. Corporate insiders own 3.00% of the company’s stock.

Skye Bioscience Stock Up 0.3 %

SKYE opened at $2.91 on Wednesday. The company has a fifty day moving average price of $2.88 and a two-hundred day moving average price of $3.70. Skye Bioscience, Inc. has a 1-year low of $2.31 and a 1-year high of $19.41.

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.