FSD Pharma Inc. (NASDAQ:HUGE) Short Interest Up 12.2% in April

FSD Pharma Inc. (NASDAQ:HUGE) was the target of a significant increase in short interest in April. As of April 15th, there was short interest totalling 374,000 shares, an increase of 12.2% from the March 31st total of 333,400 shares. Currently, 1.1% of the company’s stock are sold short. Based on an average trading volume of 149,300 shares, the days-to-cover ratio is presently 2.5 days.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in FSD Pharma stock. Scotia Capital Inc. acquired a new stake in shares of FSD Pharma Inc. (NASDAQ:HUGE) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 61,273 shares of the company’s stock, valued at approximately $55,000. Scotia Capital Inc. owned approximately 0.16% of FSD Pharma as of its most recent SEC filing. Institutional investors own 1.24% of the company’s stock.

FSD Pharma Stock Performance

Shares of NASDAQ:HUGE traded down $0.02 during trading on Wednesday, hitting $0.39. The company’s stock had a trading volume of 196,876 shares, compared to its average volume of 162,564. FSD Pharma has a fifty-two week low of $0.39 and a fifty-two week high of $1.68. The stock’s 50-day moving average price is $0.69 and its two-hundred day moving average price is $0.88. The company has a market capitalization of $15.36 million, a PE ratio of -0.87 and a beta of 0.59.

FSD Pharma (NASDAQ:HUGE) last released its quarterly earnings results on Thursday, March 28th. The company reported ($0.04) EPS for the quarter.

About FSD Pharma

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.