5 Best Psychedelic Stocks to Buy According to Hedge Funds

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In this article, we discuss 5 best psychedelic stocks to buy according to hedge funds. If you want to see more stocks in this selection, check out 10 Best Psychedelic Stocks to Buy According to Hedge Funds

5. Atai Life Sciences N.V. (NASDAQ:ATAI)

Number of Hedge Fund Holders: 15

Atai Life Sciences N.V. (NASDAQ:ATAI) was founded in 2018 and is headquartered in Berlin, Germany. It operates as a clinical-stage biopharmaceutical company, engaged in developing therapeutic candidates that focus on various mental health disorders. It is one of the best psychedelic stocks to monitor. 

On March 6, Atai Life Sciences N.V. (NASDAQ:ATAI) announced a decrease of approximately 30% in its workforce as part of a strategic review, alongside other clinical and corporate updates. The company stated that this decision was made after evaluating its pipeline and to improve operational efficiency and concentration. Atai Life Sciences N.V. (NASDAQ:ATAI) added that the cost savings will primarily come from the reduction of workforce in general, as well as administration and non-clinical development. As a result, Atai’s cash runway is expected to extend until the first half of 2026.

According to Insider Monkey’s fourth quarter database, 15 hedge funds were bullish on Atai Life Sciences N.V. (NASDAQ:ATAI), compared to 19 funds in the earlier quarter. Cathie Wood’s ARK Investment Management is the largest stakeholder of the company, with 5.6 million shares worth $15 million. 

Follow Atai Life Sciences N.v.

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