In this article, we discuss the 5 best psychedelic stocks to buy now. If you want to read our detailed analysis of these stocks, go directly to the 10 Best Psychedelic Stocks to Buy Now.
5. Cybin Inc. (OTC: CLXPF)
Cybin Inc. (OTC: CLXPF) stock has returned more than 3,485% to investors in the past twelve months. The firm operates as a life sciences company concentrating on the development of psychedelic drugs. It is ranked fifth on our list of 10 best psychedelic stocks to buy now. Some of the leading drug candidates of the firm include CYB001 and CYB003. The former is a treatment for major depressive disorder while the latter aims to tackle alcohol use disorder.
In early July, Cybin Inc. (OTC: CLXPF) announced that it had entered into an agreement with TMS NeuroHealth Centers to establish Mental Health Centers of Excellence that would facilitate research and development of innovative psychedelic therapies.
In late March, Cybin Inc. (OTC: CLXPF) had revealed that it signed a deal with Catalent, a US-based biopharma firm, for use of Zydis orally disintegrating tablet technology. The new tech would be used as a delivery mechanism for the CYB003 drug being developed by Cybin.
4. Mind Medicine (MindMed) Inc. (NASDAQ: MNMD)
Mind Medicine (MindMed) Inc. (NASDAQ: MNMD) is placed fourth on our list of 10 best psychedelic stocks to buy now. The company’s shares have returned 19% to investors over the past twelve months. The firm is a New York-based biopharma company working on psychedelic medicines. It has a market capitalization of over $1.2 billion. The short interest on the stock is 1.14% and the share price touched a 52-week high of $5.77 in May.
On July 8, Mind Medicine (MindMed) Inc. (NASDAQ: MNMD) announced that it had teamed up with Datavant, a health information technology company, to link clinical trial data to external data. The move is part of a plan to build broad and detailed datasets for further use.
In late June, Mind Medicine (MindMed) Inc. (NASDAQ: MNMD) was included in the FTSE Russell 3000 Index. The inclusion came just two months after the firm was listed on the NASDAQ exchange in the United States.
3. Seelos Therapeutics, Inc. (NASDAQ: SEEL)
Seelos Therapeutics, Inc. (NASDAQ: SEEL) stock has returned 146% to investors over the past year. The firm is a biotech company that focuses on the development of psychedelic drugs for the treatment of post-traumatic stress and some depressive disorders. It is ranked third on our list of 10 best psychedelic stocks to buy now. The company is based in New York. The stock has a short interest of 2.89%. The 52-week high for the stock is $6.6.
On July 7, Seelos Therapeutics, Inc. (NASDAQ: SEEL) posted encouraging results from a SLS-004 rodent study. Raj Mehra, the CEO of the firm, made the results public. The share price of the firm jumped more than 4% after the announcement.
At the end of the first quarter of 2021, 11 hedge funds in the database of Insider Monkey held stakes worth $47 million in Seelos Therapeutics, Inc. (NASDAQ: SEEL), up from 4 the preceding quarter worth $1.3 million.
2. Atai Life Sciences N.V. (NASDAQ: ATAI)
Atai Life Sciences N.V. (NASDAQ: ATAI) is a Germany-based biopharma company focusing on the development of psychedelic drugs. It is placed second on our list of 10 best psychedelic stocks to buy now. The company’s shares have offered investors returns exceeding 6.9% over the course of the past week. The company is backed by legendary investor Peter Thiel. It went public last month and was valued at $2.3 billion.
On July 13, Atai Life Sciences N.V. (NASDAQ: ATAI) stock was initiated at Buy or Overweight rating by prominent investment advisors like Citi, Credit Suisse, Canaccord Genuity, and Cantor Fitzgerald, among others.
At the end of the first quarter of 2021, 3 hedge funds in the database of Insider Monkey held stakes worth $782,000 in Atai Life Sciences N.V. (NASDAQ: ATAI), up from 1 in the previous quarter worth $118,000.
1. COMPASS Pathways plc (NASDAQ: CMPS)
COMPASS Pathways plc (NASDAQ: CMPS) is ranked first on our list of 10 best psychedelic stocks to buy now. The stock has offered investors returns exceeding 10% over the course of the past five days. The company operates as a mental health care firm focusing on psychedelics. It is based in the United Kingdom and has a market cap of close to $1.5 billion. The company was founded last year.
In quarterly earnings for the fourth quarter of 2020, posted in March this year, COMPASS Pathways plc (NASDAQ: CMPS) reported earnings per share of -$0.52, missing market estimates by $0.16. On July 13, Bitritto-Garg initiated the stock at a Buy rating.
Out of the hedge funds being tracked by Insider Monkey, New York-based investment firm Perceptive Advisors is a leading shareholder in COMPASS Pathways plc (NASDAQ: CMPS) with 797,404 shares worth more than $29 million.
You can also take a peek at 10 Psychedelic Startups Investors are Flocking To and 10 Best Psychedelic Companies to Watch.
