Walleye Capital LLC Has $1.40 Million Stock Holdings in Bright Minds Biosciences Inc. $DRUG

Walleye Capital LLC decreased its holdings in shares of Bright Minds Biosciences Inc. (NASDAQ:DRUG) by 37.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 53,430 shares of the company’s stock after selling 31,592 shares during the quarter. Walleye Capital LLC’s holdings in Bright Minds Biosciences were worth $1,395,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. OMERS ADMINISTRATION Corp bought a new position in Bright Minds Biosciences during the first quarter valued at about $505,000. Adage Capital Partners GP L.L.C. increased its holdings in shares of Bright Minds Biosciences by 50.9% during the 1st quarter. Adage Capital Partners GP L.L.C. now owns 200,000 shares of the company’s stock valued at $7,214,000 after acquiring an additional 67,500 shares during the last quarter. Millennium Management LLC raised its stake in shares of Bright Minds Biosciences by 376.9% in the 1st quarter. Millennium Management LLC now owns 192,557 shares of the company’s stock valued at $6,946,000 after acquiring an additional 152,178 shares in the last quarter. Goldman Sachs Group Inc. acquired a new stake in Bright Minds Biosciences in the 1st quarter worth approximately $802,000. Finally, AdvisorShares Investments LLC lifted its holdings in Bright Minds Biosciences by 28.4% in the 2nd quarter. AdvisorShares Investments LLC now owns 14,481 shares of the company’s stock worth $378,000 after purchasing an additional 3,200 shares during the last quarter. Institutional investors own 40.52% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on DRUG shares. Zacks Research downgraded Bright Minds Biosciences from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 2nd. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Bright Minds Biosciences in a report on Monday, December 1st. Chardan Capital upgraded shares of Bright Minds Biosciences to a “strong-buy” rating in a research note on Wednesday, November 19th. BTIG Research began coverage on shares of Bright Minds Biosciences in a research report on Monday, September 8th. They set a “buy” rating and a $72.00 target price for the company. Finally, 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. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $82.50.

Bright Minds Biosciences Trading Down 4.6%

DRUG opened at $77.40 on Wednesday. Bright Minds Biosciences Inc. has a 1 year low of $23.17 and a 1 year high of $88.00. The stock has a market cap of $602.95 million, a PE ratio of -83.23 and a beta of -6.22. The stock’s 50 day simple moving average is $61.81 and its 200-day simple moving average is $44.74.

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.