HC Wainwright Weighs in on Skye Bioscience Q3 Earnings

Key Points

• HC Wainwright has set a Buy rating for Skye Bioscience with a price target of $20.00, anticipating Q3 2025 earnings of ($0.43) per share.
• Skye Bioscience reported Q2 earnings of ($0.44) per share, which was below the consensus estimate of ($0.34).
• Institutional investors have increased their stakes in Skye Bioscience, with notable purchases exceeding $650,000 during the second quarter.

Skye Bioscience, Inc. (NASDAQ:SKYE - Free Report) - Stock analysts at HC Wainwright issued their Q3 2025 earnings per share estimates for shares of Skye Bioscience in a research note issued to investors on Tuesday, September 30th. HC Wainwright analyst A. Ghosh forecasts that the company will post earnings of ($0.43) per share for the quarter. HC Wainwright has a "Buy" rating and a $20.00 price target on the stock. The consensus estimate for Skye Bioscience's current full-year earnings is ($1.04) per share. HC Wainwright also issued estimates for Skye Bioscience's Q4 2025 earnings at ($0.44) EPS, FY2025 earnings at ($1.61) EPS, FY2026 earnings at ($1.84) EPS, FY2027 earnings at ($1.80) EPS, FY2028 earnings at ($2.04) EPS and FY2029 earnings at ($2.47) EPS.

Skye Bioscience (NASDAQ:SKYE - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported ($0.44) earnings per share for the quarter, missing the consensus estimate of ($0.34) by ($0.10).

A number of other research analysts have also recently commented on the company. Evercore ISI upgraded Skye Bioscience to a "strong-buy" rating in a research note on Friday, August 15th. JMP Securities restated a "market outperform" rating and issued a $15.00 target price on shares of Skye Bioscience in a research note on Tuesday, June 24th. One analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $14.75.

Skye Bioscience Stock Performance

NASDAQ SKYE opened at $4.26 on Thursday. Skye Bioscience has a fifty-two week low of $1.14 and a fifty-two week high of $5.96. The stock has a 50 day simple moving average of $3.70 and a two-hundred day simple moving average of $2.97. The stock has a market cap of $132.02 million, a P/E ratio of -4.02 and a beta of 2.34.

Hedge Funds Weigh In On Skye Bioscience

A number of institutional investors and hedge funds have recently modified their holdings of SKYE. Marshall Wace LLP purchased a new position in Skye Bioscience during the second quarter valued at $436,000. Qube Research & Technologies Ltd purchased a new position in shares of Skye Bioscience during the 2nd quarter valued at about $218,000. Capital Advisors Wealth Management LLC lifted its position in shares of Skye Bioscience by 143.1% during the 2nd quarter. Capital Advisors Wealth Management LLC now owns 50,800 shares of the company's stock valued at $212,000 after buying an additional 29,900 shares in the last quarter. Deutsche Bank AG lifted its position in shares of Skye Bioscience by 365.0% during the 4th quarter. Deutsche Bank AG now owns 40,835 shares of the company's stock valued at $116,000 after buying an additional 32,054 shares in the last quarter. Finally, Bank of America Corp DE lifted its position in shares of Skye Bioscience by 37.4% during the 4th quarter. Bank of America Corp DE now owns 39,257 shares of the company's stock valued at $111,000 after buying an additional 10,696 shares in the last quarter. 21.09% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Skye Bioscience

In other news, major shareholder 5Am Partners Vii, Llc sold 170,449 shares of the firm's stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $3.42, for a total value of $582,935.58. Following the transaction, the insider directly owned 57,493 shares in the company, valued at $196,626.06. This trade represents a 74.78% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Andrew J. Schwab sold 170,449 shares of the firm's stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $3.42, for a total value of $582,935.58. Following the completion of the transaction, the director owned 57,493 shares in the company, valued at approximately $196,626.06. This trade represents a 74.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 462,810 shares of company stock worth $1,601,097 over the last three months. Insiders own 4.50% of the company's stock.

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.

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