Bright Minds Biosciences (NASDAQ:DRUG) Trading 7.8% Higher

Bright Minds Biosciences Inc. (NASDAQ:DRUG)’s stock price traded up 7.8% during mid-day trading on Wednesday . The company traded as high as $1.13 and last traded at $1.04. 46,245 shares traded hands during trading, an increase of 65% from the average session volume of 28,065 shares. The stock had previously closed at $0.97.

Bright Minds Biosciences Price Performance

The stock has a 50 day moving average price of $1.37 and a 200-day moving average price of $1.53. The stock has a market capitalization of $4.61 million, a P/E ratio of -0.79 and a beta of 1.41.

Bright Minds Biosciences (NASDAQ:DRUG) last posted its earnings results on Monday, February 12th. The company reported ($0.32) earnings per share for the quarter.

Institutional Trading of Bright Minds Biosciences

A hedge fund recently raised its stake in Bright Minds Biosciences stock. AdvisorShares Investments LLC lifted its position in shares of Bright Minds Biosciences Inc. (NASDAQ:DRUG) by 12.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 188,119 shares of the company’s stock after purchasing an additional 20,189 shares during the period. AdvisorShares Investments LLC owned 4.25% of Bright Minds Biosciences worth $273,000 as of its most recent SEC filing. 40.52% of the stock is currently owned by institutional investors and hedge funds.

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.