Fintel reports that on February 28, 2025, William Blair initiated coverage of Skye Bioscience (NasdaqGM:SKYE) with a Outperform recommendation.
Analyst Price Forecast Suggests 546.48% Upside
As of February 20, 2025, the average one-year price target for Skye Bioscience is $18.36/share. The forecasts range from a low of $14.14 to a high of $22.05. The average price target represents an increase of 546.48% from its latest reported closing price of $2.84 / share.
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The projected annual revenue for Skye Bioscience is 0MM. The projected annual non-GAAP EPS is -0.94.
What is the Fund Sentiment?
There are 149 funds or institutions reporting positions in Skye Bioscience. This is an increase of 2 owner(s) or 1.36% in the last quarter. Average portfolio weight of all funds dedicated to SKYE is 0.11%, an increase of 45.83%. Total shares owned by institutions decreased in the last three months by 4.23% to 26,304K shares. 
The put/call ratio of SKYE is 0.02, indicating a bullish outlook.
What are Other Shareholders Doing?
5AM Venture Management holds 9,913K shares representing 32.68% ownership of the company. No change in the last quarter.
Versant Venture Management holds 2,008K shares representing 6.62% ownership of the company. No change in the last quarter.
Sphera Funds Management holds 1,565K shares representing 5.16% ownership of the company. In its prior filing, the firm reported owning 1,564K shares , representing an increase of 0.07%. The firm decreased its portfolio allocation in SKYE by 18.43% over the last quarter.
Baker Bros. Advisors holds 1,451K shares representing 4.78% ownership of the company. In its prior filing, the firm reported owning 1,435K shares , representing an increase of 1.10%. The firm decreased its portfolio allocation in SKYE by 24.57% over the last quarter.
Schonfeld Strategic Advisors holds 1,423K shares representing 4.69% ownership of the company. In its prior filing, the firm reported owning 959K shares , representing an increase of 32.59%. The firm decreased its portfolio allocation in SKYE by 6.40% over the last quarter.
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This story originally appeared on Fintel.
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