E Only 3 Of The 41 Psychedelic Drug Stocks Advanced In March

Forty-one psychedelic drug stocks trade on the various North American stock exchanges and 38 of them are down since the end of February for an overall sector change of -22.6%.

The 41 stocks consist of:

  • 7 micro-cap stocks with an average market capitalization of $197M (Group #1),
  • 2 small-cap stocks (Group #2) with an average market capitalization of $1.16M.
  • 32 nano-cap stocks (Group #3) with an average market capitalization of just $33M,

Below is the stock price performance for each Group for the month of March:

Group #1

The 7 stocks in Group #1:

  • have market capitalizations ranging from $104M to $315M and averaged $197M
  • declined 4.5% in March (+53.8% YTD) and
  • ranged in price/share from $0.18/share to $4.57/share for an average of $1.88/share of which
  • 3 trade for less than $1/share at $0.18/share, $0.38/share and $0.83/share as of March 26th.
  • and are constituents in the munKNEE Pure-Play Psychedelic Drug Stocks Index as their market capitalizations are more than $100M and less than $1B.

The performance of the Group #1 constituents in March were, in descending order (with YTD in brackets), as follows :

  1. Seelos (SEEL): +44.1% (+170.9%) to $4.28/share
    • BTIG analyst Robert Hazlett put a $14 price target on SEEL stock
  2. Revive (RVVTF): -5.0% (-22.4%) to $0.38/share
  3. Jaguar (JAGX): -12.4% (+127.2%) to $1.84/share
  4. Cybin (CLXPF): -13.4% (-26.7%) to $1.10/share
  5. Field Trip (FTRPF): -17.5% (+40.6%) to $4.57/share
  6. Numinus (LKYSF): -30.3% (-1.2%) to $0.83/share
  7. Bionomics (BNOEF): -45.5% (+80.0%) to $0.18/share 

Group #2

The two stocks in Group #2:

  • have market capitalizations of $920M and $1.4B
  • declined 23.1% in March (-26.5% YTD) as follows:
    • Compass Pathways (CMPS): -23.0% (-27.1%) to $34.75/share
    • Mind Medicine (MMEDF): -25.0% (-18.4%) to $2.49/share

The above two stocks are not eligible for inclusion in the munKNEE Pure-Play Psychedelic Drug Stocks Index as their market capitalizations are so large that their inclusion would skew the performance results of the index so are reported above separately.

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Disclosure: This article discusses one or more penny stocks and/or microcaps. Such stocks are easily manipulated; do your own careful due diligence.

The above 32 stocks are not eligible for ...

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William K. 2 months ago Member's comment

One more consideration is that all of these are relatively new organizations. The failure rate for startups over the many years is rather high, and so this may just be stumbling as they are getting started.

William K. 2 months ago Member's comment

It may be that "the thrill is gone" for a while. This entire sector i a business that was illegal not that long ago and so of course there would be a rush for a while. But thrills do get old and interest wanes and other things look more exciting.

So hold on to those stocks because eventually they will turn around.