Janus Henderson Group PLC Buys New Position in Bright Minds Biosciences Inc. (NASDAQ:DRUG)

Janus Henderson Group PLC bought a new stake in Bright Minds Biosciences Inc. (NASDAQ:DRUG) in the 4th quarter, according to its most recent disclosure with the SEC. The fund bought 508,776 shares of the company’s stock, valued at approximately $18,392,000. Janus Henderson Group PLC owned approximately 11.48% of Bright Minds Biosciences at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of DRUG. Bank of America Corp DE purchased a new position in shares of Bright Minds Biosciences in the fourth quarter valued at approximately $173,000. Acuta Capital Partners LLC acquired a new stake in Bright Minds Biosciences during the 4th quarter worth approximately $2,490,000. RA Capital Management L.P. purchased a new position in Bright Minds Biosciences in the 4th quarter valued at approximately $16,599,000. Jane Street Group LLC purchased a new position in Bright Minds Biosciences in the 4th quarter valued at approximately $238,000. Finally, Schonfeld Strategic Advisors LLC acquired a new position in shares of Bright Minds Biosciences in the fourth quarter worth $2,465,000. 40.52% of the stock is currently owned by hedge funds and other institutional investors.

Bright Minds Biosciences Trading Up 2.1%

DRUG stock opened at $32.36 on Friday. The company has a market capitalization of $227.94 million, a P/E ratio of -190.34 and a beta of -5.32. The business has a 50 day simple moving average of $32.87 and a 200-day simple moving average of $36.92. Bright Minds Biosciences Inc. has a twelve month low of $0.93 and a twelve month high of $79.02.

Bright Minds Biosciences (NASDAQ:DRUG) last issued its quarterly earnings data on Wednesday, May 21st. The company reported ($0.29) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.38) by $0.09. Research analysts predict that Bright Minds Biosciences Inc. will post -1.24 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Chardan Capital started coverage on Bright Minds Biosciences in a report on Wednesday, May 7th. They issued a “buy” rating and a $80.00 target price for the company. Piper Sandler began coverage on shares of Bright Minds Biosciences in a research note on Thursday, January 23rd. They set an “overweight” rating and a $93.00 target price for the company. TD Cowen assumed coverage on Bright Minds Biosciences in a research note on Tuesday. They issued a “buy” rating on the stock. Cantor Fitzgerald raised Bright Minds Biosciences to a “strong-buy” rating in a research report on Tuesday. Finally, Cowen assumed coverage on Bright Minds Biosciences in a report on Tuesday. They issued a “buy” rating on the stock. Six investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $83.25.

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.