Cormorant Asset Management, Lp Purchases 372,591 Shares of Bright Minds Biosciences Inc. (NASDAQ:DRUG) Stock

Bright Minds Biosciences Inc. (NASDAQ:DRUG) major shareholder Cormorant Asset Management, Lp bought 372,591 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The stock was bought at an average price of $5.53 per share, with a total value of $2,060,428.23. Following the acquisition, the insider now directly owns 825,000 shares in the company, valued at $4,562,250. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Bright Minds Biosciences Stock Performance

Shares of NASDAQ:DRUG traded down $7.10 during trading on Thursday, hitting $21.70. The company’s stock had a trading volume of 2,584,556 shares, compared to its average volume of 750,335. The business has a 50 day moving average price of $2.47 and a two-hundred day moving average price of $1.59. The company has a market capitalization of $96.22 million, a PE ratio of -28.51 and a beta of 1.56. Bright Minds Biosciences Inc. has a fifty-two week low of $0.93 and a fifty-two week high of $38.49.

Bright Minds Biosciences (NASDAQ:DRUG) last announced its earnings results on Wednesday, August 14th. The company reported $0.04 EPS for the quarter.

Bright Minds Biosciences Company 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.