Springhill Fund Asset Management HK Co Ltd Purchases Shares of 60,648 Bright Minds Biosciences Inc. (NASDAQ:DRUG)

Springhill Fund Asset Management HK Co Ltd acquired a new position in shares of Bright Minds Biosciences Inc. (NASDAQ:DRUG) in the fourth quarter, according to its most recent 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 comprises approximately 3.5% of Springhill Fund Asset Management HK Co Ltd’s portfolio, 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 filing with the Securities and Exchange Commission (SEC).

Separately, Atika Capital Management LLC bought a new position in Bright Minds Biosciences during the 4th quarter worth approximately $540,000. 40.52% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on DRUG. HC Wainwright reaffirmed a “buy” rating and issued a $85.00 price objective on shares of Bright Minds Biosciences in a research note on Wednesday, February 19th. Piper Sandler assumed coverage on Bright Minds Biosciences in a research note on Thursday, January 23rd. They issued an “overweight” rating and a $93.00 price target on the stock. Finally, Cantor Fitzgerald initiated coverage on shares of Bright Minds Biosciences in a research report on Friday, January 10th. They set an “overweight” rating for the company. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $84.33.

Bright Minds Biosciences Stock Down 3.3 %

Shares of NASDAQ:DRUG opened at $32.04 on Friday. The stock’s 50 day moving average is $36.38 and its 200-day moving average is $33.77. Bright Minds Biosciences Inc. has a twelve month low of $0.93 and a twelve month high of $79.02. The firm has a market capitalization of $225.69 million, a price-to-earnings ratio of -188.46 and a beta of -5.50.

Bright Minds Biosciences (NASDAQ:DRUG) last posted its earnings results on Thursday, February 13th. The company reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.24. Equities research analysts anticipate that Bright Minds Biosciences Inc. will post -1.24 earnings per share for the current fiscal 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.