Bright Minds Biosciences Inc. (NASDAQ:DRUG) Major Shareholder Acquires $2,060,428.23 in Stock

Bright Minds Biosciences Inc. (NASDAQ:DRUG) major shareholder Cormorant Asset Management, Lp acquired 372,591 shares of the firm’s stock in a transaction on Tuesday, October 15th. The shares were bought at an average cost of $5.53 per share, for a total transaction of $2,060,428.23. Following the completion of the acquisition, the insider now owns 825,000 shares of the company’s stock, valued at approximately $4,562,250. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Bright Minds Biosciences Stock Up 117.6 %

DRUG opened at $47.21 on Friday. The company has a market cap of $209.33 million, a PE ratio of -46.74 and a beta of 1.56. Bright Minds Biosciences Inc. has a twelve month low of $0.93 and a twelve month high of $79.02. The company has a 50-day moving average price of $3.80 and a 200 day moving average price of $2.05.

Bright Minds Biosciences (NASDAQ:DRUG) last announced its earnings results on Wednesday, August 14th. The company reported $0.04 EPS for the quarter.

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.