Atika Capital Management LLC Takes Position in Bright Minds Biosciences Inc. (NASDAQ:DRUG)

Atika Capital Management LLC bought a new position in shares of Bright Minds Biosciences Inc. (NASDAQ:DRUG) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 15,000 shares of the company’s stock, valued at approximately $540,000. Atika Capital Management LLC owned about 0.34% of Bright Minds Biosciences at the end of the most recent quarter.

Bright Minds Biosciences Stock Down 3.3 %

Bright Minds Biosciences stock opened at $32.04 on Friday. Bright Minds Biosciences Inc. has a twelve month low of $0.93 and a twelve month high of $79.02. The stock has a market cap of $225.69 million, a P/E ratio of -188.46 and a beta of -5.50. The company’s 50-day moving average price is $36.38 and its two-hundred day moving average price is $33.77.

Bright Minds Biosciences (NASDAQ:DRUG) last released its quarterly earnings results on Thursday, February 13th. The company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.23) by $0.24. Equities analysts anticipate that Bright Minds Biosciences Inc. will post -1.24 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently weighed in on DRUG. Piper Sandler started coverage on shares of Bright Minds Biosciences in a research note on Thursday, January 23rd. They set an “overweight” rating and a $93.00 price objective on the stock. HC Wainwright restated a “buy” rating and issued a $85.00 price objective on shares of Bright Minds Biosciences in a research note on Wednesday, February 19th. Finally, Cantor Fitzgerald began coverage on Bright Minds Biosciences in a research note on Friday, January 10th. They set an “overweight” rating for the company. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $84.33.

Bright Minds Biosciences Company 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.