Bright Minds Biosciences Inc. (NASDAQ:DRUG) Major Shareholder Cormorant Asset Management, Lp Acquires 372,591 Shares

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

Bright Minds Biosciences Trading Down 24.7 %

Shares of NASDAQ DRUG opened at $21.70 on Friday. The stock has a 50 day simple moving average of $2.88 and a 200-day simple moving average of $1.73. The company has a market cap of $96.22 million, a PE ratio of -21.49 and a beta of 1.56. Bright Minds Biosciences Inc. has a 12-month low of $0.93 and a 12-month high of $38.49.

Bright Minds Biosciences (NASDAQ:DRUG) last released its earnings results on Wednesday, August 14th. The company reported $0.04 earnings per share 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.