The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Bright Minds Biosciences Inc shares valued at $3,999,983 were purchased by Cormorant Asset Management, LP on Nov 04 ’24. At $21.70 per share, Cormorant Asset Management, LP acquired 184,331 shares. The insider’s holdings grew to 1,059,331 shares worth approximately $41.5 million following the completion of this transaction.
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Also, Cormorant Asset Management, LP purchased 372,591 shares, netting a total of over 2,061,574 in proceeds. Following the buying of shares at $5.53 each, the insider now holds 825,000 shares.
Before that, Cormorant Asset Management, LP had added 50,000 shares to its account. In a trade valued at $1,172,813, the 10% Owner bought Bright Minds Biosciences Inc shares for $23.46 each. Upon closing the transaction, the insider’s holdings increased to 50,000 shares, worth approximately $34.28 million.
As published in their initiating research note from Robert W. Baird on November 26, 2024, Bright Minds Biosciences Inc [DRUG] has been an Outperform and the price target has been revised to $75.
Analyzing DRUG Stock Performance
During the last five days, there has been a surge of approximately 19.93%. Over the course of the year, Bright Minds Biosciences Inc shares have jumped approximately 2639.86%. Shares of the company reached a 52-week high of $79.02 on 10/18/24 and a 52-week low of $0.93 on 04/30/24. A 50-day SMA is recorded $27.76, while a 200-day SMA reached $7.85. Nevertheless, trading volume fell to 0.18 million shares from 0.19 million shares the previous day.
Support And Resistance Levels for Bright Minds Biosciences Inc (DRUG)
According to the 24-hour chart, there is a support level at 37.69, which, if violated, would cause prices to drop to 36.20. In the upper region, resistance lies at 40.68. The next price resistance is at 42.18. RSI (Relative Strength Index) is 52.97 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.29, which suggests the price will decrease in the coming days. Percent R is at 57.60%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
