Bright Minds Biosciences Inc’s recent filing unveils that its 10% Owner Cormorant Asset Management, LP acquired Company’s shares for reported $4.0 million on Nov 04 ’24. In the deal valued at $21.70 per share,184,331 shares were bought. As a result of this transaction, Cormorant Asset Management, LP now holds 1,059,331 shares worth roughly $38.96 million.
Then, Cormorant Asset Management, LP bought 372,591 shares, generating $2,061,574 in total proceeds. Upon buying the shares at $5.53, the 10% Owner now owns 825,000 shares.
Before that, Cormorant Asset Management, LP bought 50,000 shares. Bright Minds Biosciences Inc shares valued at $1,172,813 were divested by the 10% Owner at a price of $23.46 per share. As a result of the transaction, Cormorant Asset Management, LP now holds 875,000 shares, worth roughly $32.18 million.
H.C. Wainwright initiated its Bright Minds Biosciences Inc [DRUG] rating to a Buy in a research note published on January 10, 2025; the price target was $85. A number of analysts have revised their coverage, including Cantor Fitzgerald’s analysts, who began to cover the stock in early January with a ‘”an Overweight”‘ rating. Robert W. Baird began covering DRUG with “an Outperform” recommendation on November 26, 2024.
Price Performance Review of DRUG
On Friday, Bright Minds Biosciences Inc [NASDAQ:DRUG] saw its stock jump 0.49% to $36.78. Over the last five days, the stock has lost -5.43%. Bright Minds Biosciences Inc shares have risen nearly 2.11% since the year began. Nevertheless, the stocks have risen 1786.15% over the past one year. While a 52-week high of $79.02 was reached on 01/02/25, a 52-week low of $0.93 was recorded on 01/02/25. SMA at 50 days reached $40.00, while 200 days put it at $14.08.
Levels Of Support And Resistance For DRUG Stock
The 24-hour chart illustrates a support level at 36.02, which if violated will result in even more drops to 35.26. On the upside, there is a resistance level at 37.45. A further resistance level may holdings at 38.12. The Relative Strength Index (RSI) on the 14-day chart is 46.15, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -1.80, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 69.55%. Stochastics %K at 26.21% indicates the stock is a holding.
How much short interest is there in Bright Minds Biosciences Inc?
A steep rise in short interest was recorded in Bright Minds Biosciences Inc stocks on 2024-12-13, dropping by 43539.0 shares to a total of 0.22 million shares. Yahoo Finance data shows the prior-month short interest on 2024-11-15 was 0.26 million shares. There was a decline of -19.68%, which implies that there is a negative sentiment for the stock.
