Janus Henderson Group PLC Invests $18.39 Million in Bright Minds Biosciences Inc. (NASDAQ:DRUG)

Janus Henderson Group PLC purchased a new position in shares of Bright Minds Biosciences Inc. (NASDAQ:DRUG - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 508,776 shares of the company's stock, valued at approximately $18,392,000. Janus Henderson Group PLC owned approximately 11.48% of Bright Minds Biosciences as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the business. Bank of America Corp DE purchased a new position in shares of Bright Minds Biosciences in the fourth quarter worth about $173,000. Acuta Capital Partners LLC bought a new position in shares of Bright Minds Biosciences in the fourth quarter worth approximately $2,490,000. RA Capital Management L.P. purchased a new position in shares of Bright Minds Biosciences in the fourth quarter valued at about $16,599,000. Jane Street Group LLC purchased a new position in Bright Minds Biosciences during the 4th quarter valued at about $238,000. Finally, Schonfeld Strategic Advisors LLC bought a new position in Bright Minds Biosciences during the 4th quarter valued at approximately $2,465,000. 40.52% of the stock is owned by hedge funds and other institutional investors.

Bright Minds Biosciences Stock Down 2.6%

Shares of NASDAQ:DRUG traded down $0.85 during midday trading on Wednesday, reaching $31.61. The company's stock had a trading volume of 5,885 shares, compared to its average volume of 821,479. The firm has a 50 day moving average of $32.70 and a 200-day moving average of $36.56. The firm has a market capitalization of $222.66 million, a P/E ratio of -187.43 and a beta of -5.32. Bright Minds Biosciences Inc. has a 12-month low of $0.93 and a 12-month high of $79.02.

Bright Minds Biosciences (NASDAQ:DRUG - Get Free Report) last announced its quarterly earnings data on Thursday, May 15th. The company reported ($0.29) earnings per share for the quarter, topping analysts' consensus estimates of ($0.39) by $0.10. On average, research analysts predict that Bright Minds Biosciences Inc. will post -1.24 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on DRUG. Cantor Fitzgerald upgraded Bright Minds Biosciences to a "strong-buy" rating in a research report on Tuesday, May 13th. Cowen started coverage on shares of Bright Minds Biosciences in a report on Tuesday, May 13th. They issued a "buy" rating on the stock. Chardan Capital reissued a "buy" rating and set a $80.00 price objective on shares of Bright Minds Biosciences in a research report on Wednesday. Piper Sandler started coverage on shares of Bright Minds Biosciences in a research report on Thursday, January 23rd. They issued an "overweight" rating and a $93.00 target price for the company. Finally, TD Cowen began coverage on shares of Bright Minds Biosciences in a research report on Tuesday, May 13th. They set a "buy" rating on the stock. Six investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $83.25.

Bright Minds Biosciences Profile

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.