FSD Pharma (NASDAQ:HUGE) Trading Up 4.8%

FSD Pharma Inc. (NASDAQ:HUGE) shares traded up 4.8% during trading on Monday . The company traded as high as $0.53 and last traded at $0.49. 675,003 shares changed hands during mid-day trading, an increase of 398% from the average session volume of 135,425 shares. The stock had previously closed at $0.47.

FSD Pharma Stock Performance

The business has a 50-day moving average price of $0.72 and a 200 day moving average price of $0.91. The stock has a market capitalization of $18.07 million, a P/E ratio of -0.98 and a beta of 0.59.

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

Hedge Funds Weigh In On FSD Pharma

A hedge fund recently raised its stake in FSD Pharma stock. AdvisorShares Investments LLC increased its position in FSD Pharma Inc. (NASDAQ:HUGE) by 14.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 270,316 shares of the company’s stock after acquiring an additional 34,679 shares during the period. AdvisorShares Investments LLC owned about 0.69% of FSD Pharma worth $249,000 at the end of the most recent reporting period. 1.24% of the stock is owned by institutional investors and hedge funds.

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.