Bright Minds Biosciences Inc. (NASDAQ:DRUG) Short Interest Up 1,274.9% in October

Bright Minds Biosciences Inc. (NASDAQ:DRUG - Get Free Report) was the recipient of a large growth in short interest in October. As of October 15th, there was short interest totalling 1,170,000 shares, a growth of 1,274.9% from the September 30th total of 85,100 shares. Currently, 38.2% of the shares of the stock are sold short. Based on an average daily volume of 2,890,000 shares, the days-to-cover ratio is presently 0.4 days.

Insider Transactions at Bright Minds Biosciences

In other Bright Minds Biosciences news, major shareholder Cormorant Asset Management, Lp purchased 372,591 shares of Bright Minds Biosciences stock in a transaction on Tuesday, October 15th. The shares were acquired at an average cost of $5.53 per share, for a total transaction of $2,060,428.23. Following the completion of the transaction, the insider now directly owns 825,000 shares of the company's stock, valued at approximately $4,562,250. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 42.66% of the company's stock.

Bright Minds Biosciences Stock Down 1.1 %

Shares of DRUG traded down $0.56 during trading hours on Friday, hitting $48.94. The company had a trading volume of 942,076 shares, compared to its average volume of 934,862. Bright Minds Biosciences has a 52-week low of $0.93 and a 52-week high of $79.02. The stock's 50 day moving average price is $8.51 and its 200 day moving average price is $3.67. The firm has a market cap of $217.00 million, a P/E ratio of -48.46 and a beta of 1.56.

Bright Minds Biosciences (NASDAQ:DRUG - Get Free Report) last announced its quarterly 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.