Point72 Asset Management L.P. bought a new stake in shares of Bright Minds Biosciences Inc. (NASDAQ:DRUG - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 135,189 shares of the company's stock, valued at approximately $4,870,000. Point72 Asset Management L.P. owned approximately 3.05% of Bright Minds Biosciences as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also made changes to their positions in the company. Bank of America Corp DE bought a new stake in shares of Bright Minds Biosciences during the fourth quarter valued at approximately $173,000. Jane Street Group LLC bought a new stake in shares of Bright Minds Biosciences during the fourth quarter valued at approximately $238,000. Atika Capital Management LLC bought a new stake in shares of Bright Minds Biosciences during the fourth quarter valued at approximately $540,000. Millennium Management LLC bought a new stake in shares of Bright Minds Biosciences during the fourth quarter valued at approximately $1,454,000. Finally, Boothbay Fund Management LLC bought a new stake in shares of Bright Minds Biosciences during the fourth quarter valued at approximately $1,606,000. Institutional investors own 40.52% of the company's stock.
Bright Minds Biosciences Trading Down 3.1%
Shares of DRUG stock opened at $31.99 on Tuesday. Bright Minds Biosciences Inc. has a 12-month low of $0.93 and a 12-month high of $79.02. The firm's 50 day moving average is $32.77 and its 200 day moving average is $36.59. The stock has a market capitalization of $225.34 million, a P/E ratio of -188.17 and a beta of -5.32.
Bright Minds Biosciences (NASDAQ:DRUG - Get Free Report) last issued its earnings results on Wednesday, May 21st. The company reported ($0.29) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.38) by $0.09. As a group, equities analysts predict that Bright Minds Biosciences Inc. will post -1.24 earnings per share for the current year.
Analyst Ratings Changes
DRUG has been the subject of several analyst reports. TD Cowen initiated coverage on shares of Bright Minds Biosciences in a research report on Tuesday, May 13th. They set a "buy" rating for the company. Piper Sandler initiated coverage on shares of Bright Minds Biosciences in a research report on Thursday, January 23rd. They set an "overweight" rating and a $93.00 price target for the company. HC Wainwright reissued a "buy" rating and set a $85.00 price target on shares of Bright Minds Biosciences in a research report on Wednesday, February 19th. Chardan Capital initiated coverage on shares of Bright Minds Biosciences in a research report on Wednesday, May 7th. They set a "buy" rating and a $80.00 price target for the company. Finally, Cowen started coverage on shares of Bright Minds Biosciences in a research report on Tuesday, May 13th. They set a "buy" rating for the company. Six equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $83.25.
View Our Latest Report on Bright Minds Biosciences
About Bright Minds Biosciences
(
Free Report)
Bright Minds Biosciences Inc, a biotechnology company, develops therapeutics to improve the lives of patients with severe and life-altering diseases in the United States. Its portfolio of selective 5-HT receptor agonists includes 5-HT2C, 5-HT2A, and 5-HT2C/A for the treatment of epilepsy, pain, and neuropsychiatry; and BMB-101 which completes phase 1 trial for undisclosed seizure disorder.
Featured Stories
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Bright Minds Biosciences, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Bright Minds Biosciences wasn't on the list.
While Bright Minds Biosciences currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
If a company's CEO, COO, and CFO were all selling shares of their stock, would you want to know? MarketBeat just compiled its list of the twelve stocks that corporate insiders are abandoning. Complete the form below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
