SKYE Stock Summary and Trading Ideas (Skye Bioscience | NASDAQ:SKYE)

Skye Bioscience Inc is a pre-clinical pharmaceutical company located in San Diego, California. The company's clinical assets focus on the modulation of cannabinoid receptor 1 ("CB1") to provide novel treatments and alternatives for diseases caused by metabolic disorders, inflammation, fibrosis and neurodegeneration, such as obesity and glaucoma. The company's Phase 2 clinical candidates include nimacimab, a negative allosteric modulating antibody that inhibits peripheral CB1 receptors, currently being developed for the treatment of obesity and SBI-100 Ophthalmic Emulsion ("SBI-100 OE"), a CB1 agonist (activator), currently being developed for the treatment of glaucoma and ocular hypertension.

Skye Bioscience trades on the NASDAQ stock market under the symbol SKYE.

As of May 8, 2024, SKYE stock price declined to $12.69 with 15,748 million shares trading.

SKYE has a market cap of $156.71 million. This is considered a Micro Cap stock.

The top ETF exchange traded funds that SKYE belongs to (by Net Assets): YOLO, HRTS.

SKYE support price is $11.85 and resistance is $13.61 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that SKYE stock will trade within this expected range on the day.