Bright Minds Biosciences Inc. $DRUG Stake Boosted by Sio Capital Management LLC

Sio Capital Management LLC grew its holdings in shares of Bright Minds Biosciences Inc. (NASDAQ:DRUG) by 0.9% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 512,338 shares of the company’s stock after purchasing an additional 4,776 shares during the quarter. Bright Minds Biosciences comprises approximately 5.1% of Sio Capital Management LLC’s portfolio, making the stock its 6th biggest holding. Sio Capital Management LLC owned 7.28% of Bright Minds Biosciences worth $13,377,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of DRUG. Police & Firemen s Retirement System of New Jersey purchased a new position in Bright Minds Biosciences in the second quarter worth $28,000. JPMorgan Chase & Co. raised its stake in shares of Bright Minds Biosciences by 624.3% during the second quarter. JPMorgan Chase & Co. now owns 2,173 shares of the company’s stock valued at $57,000 after acquiring an additional 1,873 shares during the last quarter. New York State Common Retirement Fund purchased a new stake in Bright Minds Biosciences in the 2nd quarter worth approximately $107,000. OMERS ADMINISTRATION Corp purchased a new stake in shares of Bright Minds Biosciences in the 1st quarter worth about $505,000. Finally, AdvisorShares Investments LLC lifted its holdings in Bright Minds Biosciences by 28.4% in the second quarter. AdvisorShares Investments LLC now owns 14,481 shares of the company’s stock worth $378,000 after buying an additional 3,200 shares during the period. 40.52% of the stock is owned by hedge funds and other institutional investors.

Bright Minds Biosciences Price Performance

NASDAQ DRUG opened at $70.25 on Tuesday. The company has a market capitalization of $547.25 million, a PE ratio of -75.54 and a beta of -6.22. Bright Minds Biosciences Inc. has a 1 year low of $23.17 and a 1 year high of $71.87. The company has a fifty day moving average of $59.18 and a 200 day moving average of $42.84.

Wall Street Analyst Weigh In

DRUG has been the subject of several recent analyst reports. HC Wainwright reaffirmed a “buy” rating and issued a $85.00 price target on shares of Bright Minds Biosciences in a research report on Monday, September 15th. Chardan Capital upgraded shares of Bright Minds Biosciences to a “strong-buy” rating in a research note on Wednesday, November 19th. BTIG Research started coverage on shares of Bright Minds Biosciences in a research note on Monday, September 8th. They issued a “buy” rating and a $72.00 price objective for the company. Zacks Research upgraded Bright Minds Biosciences from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 13th. Finally, Wall Street Zen lowered Bright Minds Biosciences from a “hold” rating to a “sell” rating in a research report on Friday, October 3rd. Two investment analysts have rated the stock with a Strong Buy rating and six have issued a Buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $82.50.

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.