Bright Minds Biosciences Inc. (NASDAQ:DRUG – Get Rating) was the recipient of a significant growth in short interest during the month of October. As of October 31st, there was short interest totalling 758,600 shares, a growth of 58.5% from the October 15th total of 478,500 shares. Based on an average trading volume of 12,300,000 shares, the short-interest ratio is currently 0.1 days. Approximately 10.1% of the company's shares are sold short.
Bright Minds Biosciences Price Performance
NASDAQ DRUG traded up $0.07 during mid-day trading on Friday, reaching $1.12. 404,034 shares of the stock were exchanged, compared to its average volume of 1,332,820. Bright Minds Biosciences has a one year low of $0.75 and a one year high of $8.30. The stock has a 50 day simple moving average of $1.19 and a 200-day simple moving average of $1.13.
Get Bright Minds Biosciences alerts:Bright Minds Biosciences (NASDAQ:DRUG – Get Rating) last announced its earnings results on Friday, August 12th. The company reported ($0.17) earnings per share for the quarter.
Hedge Funds Weigh In On Bright Minds Biosciences
A hedge fund recently raised its stake in Bright Minds Biosciences stock. AdvisorShares Investments LLC raised its stake in Bright Minds Biosciences Inc. (NASDAQ:DRUG – Get Rating) by 115.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 206,716 shares of the company's stock after purchasing an additional 110,774 shares during the period. AdvisorShares Investments LLC owned 1.74% of Bright Minds Biosciences worth $314,000 as of its most recent SEC filing. 4.03% of the stock is owned by institutional investors.About Bright Minds Biosciences
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Bright Minds Biosciences Inc, a pre-clinical biosciences company, develops 5-HT (serotonin) medicines to improve the lives of patients with severe and life-altering diseases. Its portfolio of selective 5-HT receptor agonists comprises 5-HT2C, 5-HT2A, and 5-HT2C/A for the treatment of epilepsy, pain, and neuropsychiatry.
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