22,222 Shares in Bright Minds Biosciences Inc. $DRUG Acquired by Goldman Sachs Group Inc.

Goldman Sachs Group Inc. acquired a new position in Bright Minds Biosciences Inc. (NASDAQ:DRUG) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 22,222 shares of the company’s stock, valued at approximately $802,000.

Other institutional investors have also recently bought and sold shares of the company. Bank of America Corp DE bought a new position in Bright Minds Biosciences in the 4th quarter worth approximately $173,000. Jane Street Group LLC bought a new position in Bright Minds Biosciences in the 4th quarter worth approximately $238,000. OMERS ADMINISTRATION Corp bought a new position in Bright Minds Biosciences in the 1st quarter worth approximately $505,000. Millennium Management LLC bought a new position in Bright Minds Biosciences in the 4th quarter worth approximately $1,454,000. Finally, Adage Capital Partners GP L.L.C. raised its position in Bright Minds Biosciences by 50.9% in the 1st quarter. Adage Capital Partners GP L.L.C. now owns 200,000 shares of the company’s stock worth $7,214,000 after purchasing an additional 67,500 shares during the last quarter. Institutional investors own 40.52% of the company’s stock.

Bright Minds Biosciences Price Performance

Bright Minds Biosciences stock opened at $50.10 on Wednesday. The firm has a 50-day moving average of $39.69 and a 200-day moving average of $33.68. Bright Minds Biosciences Inc. has a one year low of $0.94 and a one year high of $79.02. The company has a market cap of $352.90 million, a price-to-earnings ratio of -53.87 and a beta of -6.13.

Bright Minds Biosciences (NASDAQ:DRUG) last posted its quarterly earnings data on Thursday, August 14th. The company reported ($0.53) EPS for the quarter, topping analysts’ consensus estimates of ($0.59) by $0.06. As a group, sell-side analysts expect that Bright Minds Biosciences Inc. will post -1.24 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have commented on DRUG shares. Wall Street Zen upgraded shares of Bright Minds Biosciences from a “sell” rating to a “hold” rating in a research report on Saturday. BTIG Research started 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. HC Wainwright reiterated a “buy” rating and set a $85.00 target price on shares of Bright Minds Biosciences in a research report on Monday, September 15th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Bright Minds Biosciences in a research report on Wednesday, July 2nd. One analyst has rated the stock with a Strong Buy rating and eight have given a Buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $81.00.

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.