4,793 Shares in Bright Minds Biosciences Inc. (NASDAQ:DRUG) Acquired by Bank of America Corp DE

Bank of America Corp DE bought a new stake in shares of Bright Minds Biosciences Inc. (NASDAQ:DRUG) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund bought 4,793 shares of the company’s stock, valued at approximately $173,000. Bank of America Corp DE owned 0.11% of Bright Minds Biosciences as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. RA Capital Management L.P. purchased a new position in shares of Bright Minds Biosciences during the fourth quarter valued at $16,599,000. Vivo Capital LLC acquired a new stake in Bright Minds Biosciences during the 4th quarter worth about $9,062,000. Adage Capital Partners GP L.L.C. purchased a new position in Bright Minds Biosciences during the 4th quarter valued at about $4,773,000. Walleye Capital LLC purchased a new position in Bright Minds Biosciences during the 4th quarter valued at about $3,717,000. Finally, Schonfeld Strategic Advisors LLC acquired a new position in shares of Bright Minds Biosciences in the 4th quarter valued at about $2,465,000. 40.52% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently commented on DRUG shares. Cowen began coverage on shares of Bright Minds Biosciences in a report on Tuesday, May 13th. They set a “buy” rating for the company. TD Cowen started coverage on shares of Bright Minds Biosciences in a research report on Tuesday, May 13th. They issued a “buy” rating for the company. Chardan Capital reissued a “buy” rating and set a $80.00 target price on shares of Bright Minds Biosciences in a research note on Wednesday, May 21st. HC Wainwright restated a “buy” rating and set a $85.00 price target on shares of Bright Minds Biosciences in a report on Wednesday, February 19th. Finally, Cantor Fitzgerald upgraded Bright Minds Biosciences to a “strong-buy” rating in a report on Tuesday, May 13th. One research analyst has rated the stock with a sell rating, six have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $83.25.

Bright Minds Biosciences Stock Down 2.8%

NASDAQ DRUG opened at $27.58 on Monday. The stock has a market capitalization of $194.27 million, a PE ratio of -162.23 and a beta of -5.75. Bright Minds Biosciences Inc. has a 12-month low of $0.93 and a 12-month high of $79.02. The company has a 50 day moving average price of $30.37 and a two-hundred day moving average price of $34.80.

Bright Minds Biosciences (NASDAQ:DRUG) last released its quarterly earnings results on Thursday, May 15th. The company reported ($0.29) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.10. As a group, equities analysts anticipate that Bright Minds Biosciences Inc. will post -1.24 EPS for the current 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.