In last trading session, Bright Minds Biosciences Inc. (NASDAQ:DRUG) saw 1.02 million shares changing hands with its beta currently measuring 0. Company’s recent per share price level of $1.37 trading at -$0.05 or -3.52% at ring of the bell on the day assigns it a market valuation of $19.08M. That closing price of DRUG’s stock is at a discount of -553.28% from its 52-week high price of $8.95 and is indicating a premium of 45.26% from its 52-week low price of $0.75. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 5.2 million shares which gives us an average trading volume of 11.97 million if we extend that period to 3-months.
For Bright Minds Biosciences Inc. (DRUG), analysts’ consensus is at an average recommendation of a Buy while assigning it a mean rating of 3.00. Splitting up the data highlights that, out of 1 analysts covering the stock, 0 rated the stock as a Sell while 0 recommended an Overweight rating for the stock. 0 suggested the stock as a Hold whereas 1 see the stock as a Buy. 0 analyst(s) advised it as an Underweight. The company is expected to be making an EPS of $0 in the current quarter.
Bright Minds Biosciences Inc. (NASDAQ:DRUG) trade information
Upright in the red during last session for losing -3.52%, in the last five days DRUG remained trading in the red while hitting it’s week-highest on Friday, 09/16/22 when the stock touched $1.37 price level, adding 21.71% to its value on the day. Bright Minds Biosciences Inc.’s shares saw a change of -56.78% in year-to-date performance and have moved -2.84% in past 5-day. Bright Minds Biosciences Inc. (NASDAQ:DRUG) showed a performance of -36.57% in past 30-days. Number of shares sold short was 32920.0 shares which calculate 1.25 days to cover the short interests.
Wall Street analysts have assigned a consensus price target of $9.09 to the stock, which implies a rise of 84.93% to its current value. Analysts have been projecting $9.09 as a low price target for the stock while placing it at a high target of $9.09. It follows that stock’s current price would drop -563.5% in reaching the projected high whereas dropping to the targeted low would mean a loss of -563.5% for stock’s current value.
Bright Minds Biosciences Inc. is more likely to be releasing its next quarterly report in October and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.
Bright Minds Biosciences Inc. (NASDAQ:DRUG)’s Major holders
Insiders are in possession of 46.91% of company’s total shares while institution are holding 8.73 percent of that, with stock having share float percentage of 16.44%. Investors also watch the number of corporate investors in a company very closely, which is 8.73% institutions for Bright Minds Biosciences Inc. that are currently holding shares of the company. AdvisorShares Investments, LLC is the top institutional holder at DRUG for having 0.21 million shares of worth $0.31 million. And as of Mar 30, 2022, it was holding 1.74% of the company’s outstanding shares.
The second largest institutional holder is Ikarian Capital, LLC, which was holding about 0.11 million shares on Mar 30, 2022. The number of shares represents firm’s hold over 0.89% of outstanding shares, having a total worth of $0.16 million.