The 36-month beta value for DRUG is also noteworthy at -6.85. There are mixed opinions on the stock, with 0 analysts rating it as a “buy,” 0 rating it as “overweight,” 1 rating it as “hold,” and 0 rating it as “sell.”
The public float for DRUG is 2.75M, and at present, short sellers hold a 42.38% of that float. The average trading volume of DRUG on November 08, 2024 was 2.97M shares.
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DRUG) stock’s latest price update
The stock of Bright Minds Biosciences Inc (NASDAQ: DRUG) has decreased by -13.00 when compared to last closing price of 55.77. Despite this, the company has experienced a 3.68% gain in its stock price over the last five trading sessions. prnewswire.com reported 2024-11-06 that NASHVILLE, Tenn., Nov. 6, 2024 /PRNewswire/ — Cumberland Pharmaceuticals Inc. (NASDAQ: CPIX), a specialty pharmaceutical company, announced today that the United States (U.S.) Food and Drug Administration (FDA) granted Orphan Drug Designation and Rare Pediatric Disease Designation to Ifetroban for the treatment of cardiomyopathy associated with Duchenne muscular dystrophy (DMD).
DRUG’s Market Performance
Bright Minds Biosciences Inc (DRUG) has experienced a 3.68% rise in stock performance for the past week, with a 4501.67% rise in the past month, and a 4251.57% rise in the past quarter. The volatility ratio for the week is 13.24%, and the volatility levels for the past 30 days are at 99.01% for DRUG. The simple moving average for the last 20 days is 17.71% for DRUG stock, with a simple moving average of 820.65% for the last 200 days.
DRUG Trading at 182.29% from the 50-Day Moving Average
After a stumble in the market that brought DRUG to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -38.60% of loss for the given period.
Volatility was left at 99.01%, however, over the last 30 days, the volatility rate increased by 13.24%, as shares surge +4,434.58% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +4,310.91% upper at present.
During the last 5 trading sessions, DRUG rose by +3.68%, which changed the moving average for the period of 200-days by +2,427.08% in comparison to the 20-day moving average, which settled at $41.22. In addition, Bright Minds Biosciences Inc saw 3293.01% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at DRUG starting from Cormorant Asset Management, LP, who purchase 184,331 shares at the price of $21.70 back on Nov 04 ’24. After this action, Cormorant Asset Management, LP now owns 1,059,331 shares of Bright Minds Biosciences Inc, valued at $3,999,983 using the latest closing price.
Cormorant Asset Management, LP, the 10% Owner of Bright Minds Biosciences Inc, purchase 372,591 shares at $5.53 during a trade that took place back on Oct 15 ’24, which means that Cormorant Asset Management, LP is holding 825,000 shares at $2,061,574 based on the most recent closing price.
Stock Fundamentals for DRUG
The total capital return value is set at -0.6. Equity return is now at value -51.16, with -47.96 for asset returns.
Based on Bright Minds Biosciences Inc (DRUG), the company’s capital structure generated 0.0 points at debt to capital in total, while cash flow to debt ratio is standing at -184.4. The debt to equity ratio resting at 0.0. The interest coverage ratio of the stock is -361.5.
Currently, EBITDA for the company is -7.33 million with net debt to EBITDA at 1.7. The liquidity ratio also appears to be rather interesting for investors as it stands at 35.08.
Conclusion
In summary, Bright Minds Biosciences Inc (DRUG) has had a better performance as of late. Analysts have mixed opinions on the stock, with some viewing it as a “buy” and others as a “hold”. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
