5 Best Psychedelic Stocks to Buy Now

3. Seelos Therapeutics, Inc. (NASDAQ: SEEL)

Seelos Therapeutics, Inc. (NASDAQ: SEEL) stock has returned 146% to investors over the past year. The firm is a biotech company that focuses on the development of psychedelic drugs for the treatment of post-traumatic stress and some depressive disorders. It is ranked third on our list of 10 best psychedelic stocks to buy now. The company is based in New York. The stock has a short interest of 2.89%. The 52-week high for the stock is $6.6. 

On July 7, Seelos Therapeutics, Inc. (NASDAQ: SEEL) posted encouraging results from a SLS-004 rodent study. Raj Mehra, the CEO of the firm, made the results public. The share price of the firm jumped more than 4% after the announcement. 

At the end of the first quarter of 2021, 11 hedge funds in the database of Insider Monkey held stakes worth $47 million in Seelos Therapeutics, Inc. (NASDAQ: SEEL), up from 4 the preceding quarter worth $1.3 million.