Walleye Capital LLC Purchases Shares of 103,192 Bright Minds Biosciences Inc. (NASDAQ:DRUG)

Walleye Capital LLC acquired a new position in shares of Bright Minds Biosciences Inc. (NASDAQ:DRUG) in the 4th quarter, Holdings Channel reports. The fund acquired 103,192 shares of the company’s stock, valued at approximately $3,717,000.

Separately, Springhill Fund Asset Management HK Co Ltd purchased a new stake in Bright Minds Biosciences in the fourth quarter valued at $2,185,000. Institutional investors and hedge funds own 40.52% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on DRUG shares. Cantor Fitzgerald began coverage on Bright Minds Biosciences in a research report on Friday, January 10th. They set an “overweight” rating on the stock. Piper Sandler started coverage on Bright Minds Biosciences in a research note on Thursday, January 23rd. They issued an “overweight” rating and a $93.00 price objective for the company. Finally, HC Wainwright restated a “buy” rating and set a $85.00 target price on shares of Bright Minds Biosciences in a research report on Wednesday, February 19th. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $84.33.

Bright Minds Biosciences Stock Up 3.4 %

DRUG opened at $33.11 on Friday. Bright Minds Biosciences Inc. has a 52 week low of $0.93 and a 52 week high of $79.02. The business has a 50 day moving average price of $35.03 and a two-hundred day moving average price of $35.53. The company has a market cap of $233.23 million, a PE ratio of -194.75 and a beta of -5.50.

Bright Minds Biosciences (NASDAQ:DRUG) last released its quarterly earnings results on Thursday, February 13th. The company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.23) by $0.24. As a group, sell-side analysts expect that Bright Minds Biosciences Inc. will post -1.24 EPS for the current fiscal year.

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.