Short Interest in FSD Pharma Inc. (NASDAQ:HUGE) Declines By 57.0%

Posted by Andrew Walz on Jul 28th, 2024

FSD Pharma Inc. (NASDAQ:HUGE – Get Free Report) saw a large decrease in short interest during the month of July. As of July 15th, there was short interest totalling 42,400 shares, a decrease of 57.0% from the June 30th total of 98,500 shares. Based on an average trading volume of 1,260,000 shares, the short-interest ratio is presently 0.0 days. Currently, 0.1% of the company’s stock are sold short.

FSD Pharma Stock Performance

HUGE stock remained flat at $0.15 during trading on Friday. 1,198,581 shares of the company’s stock were exchanged, compared to its average volume of 2,618,186. FSD Pharma has a twelve month low of $0.13 and a twelve month high of $1.68. The stock has a 50 day moving average price of $0.21 and a 200 day moving average price of $0.53.

FSD Pharma (NASDAQ:HUGE – Get Free Report) last posted its quarterly earnings data on Tuesday, May 14th. The company reported ($0.05) earnings per share for the quarter, meeting the consensus estimate of ($0.05). On average, sell-side analysts forecast that FSD Pharma will post -0.22 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Singular Research restated a “buy-venture” rating on shares of FSD Pharma in a report on Tuesday, May 7th.

View Our Latest Stock Report on FSD Pharma

Institutional Trading of FSD Pharma

An institutional investor recently bought a new position in FSD Pharma stock. Scotia Capital Inc. bought a new stake in shares of FSD Pharma Inc. (NASDAQ:HUGE – Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 61,273 shares of the company’s stock, valued at approximately $55,000. Scotia Capital Inc. owned about 0.16% of FSD Pharma as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other institutional investors own 1.24% of the company’s stock.

FSD Pharma Company Profile

(Get Free Report)

FSD Pharma Inc, a biotechnology company, operates in the pharmaceutical research and development business. Its lead candidate is FSD-201, an ultra-micronized palmitoylethanolamide for the treatment of inflammatory diseases. The company is also involved in the research and development of Lucid-Psych, a molecular compound identified for the treatment of mental health disorders; and Lucid-MS, a molecular compound identified for the treatment of neurodegenerative disorders.