Image Source: Pixabay

The 6 psychedelic compound-based research & development stocks in our munKNEE Psychedelic Drug Stocks Index have market capitalizations ranging from $87M to $553M and average $269M. They were down 15%, on average, in August and are now only up 5.3% YTD. They are ranked below in descending order as to their performances.

1. Compass Pathways (CMPS): down 2.9% in August; up 15.9% YTD
   • focused on the use of psilocybin* (magic mushrooms) in their research. Go here for much more extensive information on Psilocybin.
   • Short Interest: 18.6%  - A high short interest signals that investors have become more bearish and may be getting ready to sell and, as such, that it may be time to liquidate a long position.
2. Mind Medicine (MNMD): down 15.8% in August; up 90.4% YTD
   • is primarily focused on the use of LSD* and MNMA*. Go here for much more extensive information on LSD and  here for much more extensive information on MNMA.
   • Short Interest: 9.4%
3. GH Research (GHRS): down 19.1% in August; up 11.4% YTD
   • is primarily focused on the use of mebufotenin*, the new International non-proprietary name for 5-MeO-DMT, which stands for 5-MethOxy-N,N-DiMeThyltryptamine.
   • Short Interest: 10.5%
4. Incannex Healthcare (IXHL): down 19.9% in August; down 48.2% YTD
   • is researching and developing therapies and products with the world's largest portfolio of medicinal cannabinoid and psychedelic pharmaceutical products.
   • Short Interest: NA
5. Atai (ATAI): down 26.8% in August; down 40.7% YTD
   • focused on the use of ketamine*, DMT* and ibogaine*.  Go here for much more extensive information on Ketamine and here for much more extensive information on DMT.
   • Short Interest: 3.1%
6. Seelos (SEEL): down 28.8% in August; up 67.7% YTD
   • focused on the use of ketamine*. Go here for much more extensive information on Ketamine.
   • Short Interest: 4.4%

*Read 10 Psychedelic Substances And The 36 Companies Researching Them for a description of each of the psychedelic-based compounds mentioned in this article.

If you are interested in this category, consider the  AdvisorShares Psychedelic ETF (PSIL) of 23 such stocks of which the majority have market capitalizations of less than $50M. It was down 9.5% in August and is now down 2.2% YTD.

More By This Author:

August Performance Of American Cannabis MSOs Vs. Canadian Cannabis LPs
Chart Suggests Silver Could Be Setting Up To Retest Its All-time High Of $50
This Article Analyzes The AI Sector 10 Ways To The Middle