Psyched: Suggestibility And Psychedelics' Effects, EU's $7M Research Fund, Australia's Treatment Delivery, BZ Podcast And More
Portfolio Pulse from Lara Goldstein
A new study suggests suggestibility plays a role in the antidepressant effects of psilocybin therapy. The EU has allocated $7M for psychedelic research for various disorders. In Australia, the first psychedelic-assisted medical treatments in 50 years were provided. Incannex Healthcare's CEO discussed the company's role in psychedelic-assisted therapies on the Benzinga Psychedelics Podcast. Psychedelics stocks showed varied performance, with COMPASS Pathways, GH Research, and Incannex Healthcare closing higher, while others like Seelos Therapeutics and Enveric Biosciences closed lower. The AdvisorShares Psychedelics ETF (PSIL) closed at $1.43.
January 27, 2024 | 3:00 pm
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NEUTRAL IMPACT
AdvisorShares Psychedelics ETF (PSIL) closed at $1.43, showing a slight increase from the previous week, indicating a stable performance in the psychedelics sector.
The ETF's performance is indicative of the overall sector's stability. While individual stock performances varied, the ETF's slight increase suggests a neutral short-term impact.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
COMPASS Pathways' involvement in a study linking suggestibility to the antidepressant effects of its synthetic psilocybin could positively influence investor perception and potentially its stock price.
The positive outcome of the study involving COMPASS Pathways' synthetic psilocybin could lead to increased investor confidence and a potential rise in stock price due to the promising implications for its treatment efficacy.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
GH Research closed at $7.25, showing a significant jump from previous weeks, which could indicate a positive short-term impact on its stock price.
The substantial increase in GH Research's stock price may attract investor attention and could lead to continued short-term positive momentum.
CONFIDENCE 70
IMPORTANCE 65
RELEVANCE 70
POSITIVE IMPACT
Incannex Healthcare's stock closed higher at $4.62, and with the CEO's discussion on the Benzinga Psychedelics Podcast, the company's visibility and stock could see a positive short-term impact.
The CEO's podcast appearance could increase investor awareness and confidence, potentially leading to a positive impact on Incannex Healthcare's stock price in the short term.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 75