Springhill Fund Asset Management HK Co Ltd Purchases New Position in Bright Minds Biosciences Inc. (NASDAQ:DRUG)

Springhill Fund Asset Management HK Co Ltd acquired a new stake 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 acquired 60,648 shares of the company's stock, valued at approximately $2,185,000. Bright Minds Biosciences accounts for approximately 3.5% of Springhill Fund Asset Management HK Co Ltd's holdings, making the stock its 13th biggest holding. Springhill Fund Asset Management HK Co Ltd owned approximately 1.37% of Bright Minds Biosciences as of its most recent SEC filing.

Separately, Atika Capital Management LLC bought a new stake in shares of Bright Minds Biosciences in the 4th quarter valued at about $540,000. 40.52% of the stock is owned by institutional investors.

Analyst Ratings Changes

DRUG has been the subject of several recent analyst reports. Cantor Fitzgerald initiated coverage on shares of Bright Minds Biosciences in a research note on Friday, January 10th. They issued an "overweight" rating for the company. HC Wainwright restated a "buy" rating and set a $85.00 price target on shares of Bright Minds Biosciences in a research note on Wednesday, February 19th. Finally, Piper Sandler assumed coverage on shares of Bright Minds Biosciences in a research report on Thursday, January 23rd. They issued an "overweight" rating and a $93.00 price objective for the company. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $84.33.

Bright Minds Biosciences Stock Up 1.4 %

Shares of NASDAQ:DRUG traded up $0.40 during trading on Friday, hitting $29.16. The stock had a trading volume of 5,347 shares, compared to its average volume of 816,643. Bright Minds Biosciences Inc. has a 12-month low of $0.93 and a 12-month high of $79.02. The stock has a market capitalization of $205.40 million, a price-to-earnings ratio of -172.23 and a beta of -5.50. The stock has a 50-day simple moving average of $35.99 and a two-hundred day simple moving average of $34.70.

Bright Minds Biosciences (NASDAQ:DRUG - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.23) by $0.24. As a group, sell-side analysts forecast that Bright Minds Biosciences Inc. will post -1.24 earnings per share for the current year.

About Bright Minds Biosciences

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.