Baker Bros. Advisors 13F: Adds $86K to SKYE Stake

Baker Bros. Advisors boosted its position in Skye Bioscience, Inc. (SKYE) by 8.59% during the first quarter, according to the firm's latest Form 13F filing with the SEC. The institutional investor acquired an additional 124,605 shares of the biotech company's stock, ending the quarter with a total of 1,575,243 shares. The position was valued at $1,091,643.43 as of the March 31, 2026 reporting date.

Baker Bros. Advisors Adjusts SKYE Holdings

Before this transaction, Baker Bros. Advisors held 1,450,638 shares of the company. The addition of 124,605 shares represents a notable increase in its overall commitment to the biotechnology firm. The cost basis for the position was listed at $6.24 per share. This move highlights the fund's decision to accumulate shares during the early months of the year, building on its existing allocation.

Skye Bioscience Stock Valuation and Trends

Skye Bioscience trades on the Nasdaq Capital Market. On Sunday, the spot price of the stock was $0.69. The stock has experienced wide price swings over the past year, with a 52-week low of $1.50 and a 52-week high of $39.92. At the current price, the stock is trading below both its 50-day moving average of $3.39 and its 200-day moving average of $5.79. The biotechnology firm has a total market capitalization of approximately $7.88 million, indicating its status as a micro-cap asset.

Recent Earnings and Financial Health

For its most recent financial period, Skye Bioscience reported an earnings per share (EPS) of -$10.24. Because the company is not currently profitable, it has no meaningful price-to-earnings ratio, though its forward P/E ratio is listed at -0.24. The company's return on equity (ROE) is -2.34%, and its net margin is at 0.0%. On the liquidity front, the firm reports a current ratio of 0.95 and a quick ratio of 0.87. The company's next earnings announcement is scheduled for November 9, 2026.

Wall Street Analyst Targets

Four analysts have published price targets and ratings for Skye Bioscience. The consensus among these analysts is a mean price target of $68.00. Individual estimates show a wide spread, ranging from a low target of $16.00 to a high target of $160.00. These targets suggest that analysts see substantial long-term upside potential, although the stock currently trades well below those figures.

Obesity and Metabolic Disease Pipeline

Skye Bioscience is a developer of therapeutics that target G-protein-coupled receptors. The company focuses on treating obesity, overweight conditions, and related metabolic diseases. Its lead drug candidate is nimacimab, an injectable antibody designed to block CB1 receptors in peripheral tissues like fat and liver while minimizing central nervous system side effects. By targeting peripheral tissues, the drug aims to regulate appetite and energy expenditure.

What's Ahead for Skye Bioscience, Inc.

Investors will likely watch the clinical progress of nimacimab as the company advances its trials. Future earnings reports, including the one scheduled for November 9, 2026, will provide more clarity on the company's cash burn rate and operational runway. While this 13F filing shows that Baker Bros. Advisors increased its commitment, these filings are backward-looking and do not guarantee the fund still holds these shares today.