FSD Pharma (NASDAQ:HUGE) Announces Earnings Results

FSD Pharma (NASDAQ:HUGE) issued its earnings results on Tuesday. The company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.14) by $0.11, MarketWatch Earnings reports.

FSD Pharma Stock Up 4.6 %

NASDAQ HUGE traded up $0.05 on Wednesday, reaching $1.14. The company had a trading volume of 10,016 shares, compared to its average volume of 143,032. FSD Pharma has a 52 week low of $0.62 and a 52 week high of $2.10. The stock’s 50 day moving average is $1.18 and its 200-day moving average is $1.19. The stock has a market cap of $44.51 million, a price-to-earnings ratio of -1.45 and a beta of 0.63.

Hedge Funds Weigh In On FSD Pharma

An institutional investor recently raised its position in FSD Pharma stock. Renaissance Technologies LLC increased its position in shares of FSD Pharma Inc. (NASDAQ:HUGE) by 145.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 32,600 shares of the company’s stock after acquiring an additional 19,300 shares during the quarter. Renaissance Technologies LLC owned about 0.08% of FSD Pharma worth $28,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 1.12% of the company’s stock.

FSD Pharma Company Profile

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.