Orbimed Advisors LLC Buys New Stake in Bright Minds Biosciences Inc. $DRUG

Posted by Brenda Bartman on Jul 27th, 2026

Orbimed Advisors LLC purchased a new position in shares of Bright Minds Biosciences Inc. (NASDAQ:DRUG – Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 40,000 shares of the company’s stock, valued at approximately $2,919,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Sei Investments Co. acquired a new position in Bright Minds Biosciences in the first quarter valued at $816,000. Walleye Capital LLC grew its holdings in shares of Bright Minds Biosciences by 108.0% during the first quarter. Walleye Capital LLC now owns 53,706 shares of the company’s stock worth $3,919,000 after purchasing an additional 27,880 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Bright Minds Biosciences by 32.7% during the first quarter. Bank of New York Mellon Corp now owns 13,253 shares of the company’s stock worth $967,000 after purchasing an additional 3,264 shares in the last quarter. AdvisorShares Investments LLC increased its position in shares of Bright Minds Biosciences by 26.8% during the first quarter. AdvisorShares Investments LLC now owns 12,613 shares of the company’s stock worth $920,000 after purchasing an additional 2,669 shares in the last quarter. Finally, Strs Ohio increased its position in shares of Bright Minds Biosciences by 200.0% during the first quarter. Strs Ohio now owns 2,700 shares of the company’s stock worth $197,000 after purchasing an additional 1,800 shares in the last quarter. 40.52% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Bright Minds Biosciences

In related news, major shareholder Cormorant Asset Management, Lp sold 109,331 shares of the business’s stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $89.50, for a total value of $9,785,124.50. Following the transaction, the insider owned 950,000 shares in the company, valued at $85,025,000. The trade was a 10.32% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 42.66% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. HC Wainwright reissued a “buy” rating and issued a $145.00 target price on shares of Bright Minds Biosciences in a research report on Monday, June 1st. Wall Street Zen raised Bright Minds Biosciences from a “strong sell” rating to a “sell” rating in a research report on Saturday, July 4th. BTIG Research reaffirmed a “buy” rating and set a $147.00 price target on shares of Bright Minds Biosciences in a research report on Monday, March 30th. Piper Sandler reiterated an “overweight” rating and issued a $220.00 price objective (up from $190.00) on shares of Bright Minds Biosciences in a research note on Wednesday, May 20th. Finally, Zacks Research raised Bright Minds Biosciences from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating and six have issued a Buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $143.83.

Get Our Latest Stock Report on Bright Minds Biosciences

Bright Minds Biosciences Stock Performance

NASDAQ DRUG opened at $71.33 on Monday. The firm has a market cap of $694.04 million, a PE ratio of -29.23 and a beta of -5.34. Bright Minds Biosciences Inc. has a one year low of $31.80 and a one year high of $123.75. The firm’s fifty day moving average is $71.91 and its two-hundred day moving average is $78.39.

Bright Minds Biosciences (NASDAQ:DRUG – Get Free Report) last announced its earnings results on Wednesday, May 20th. The company reported ($0.80) EPS for the quarter, beating analysts’ consensus estimates of ($0.86) by $0.06. Research analysts predict that Bright Minds Biosciences Inc. will post -4.86 earnings per share for the current year.

Bright Minds Biosciences Company Profile

(Free Report)

Bright Minds Biosciences Inc, trading on the NASDAQ under the symbol DRUG, is a clinical-stage biotechnology company focused on developing novel small-molecule therapeutics for mental health and neurodegenerative disorders. The company’s research leverages proprietary chemistry platforms to create serotonin-modulating and neuroprotective compounds derived from psychedelic-inspired structures. Bright Minds aims to address unmet needs in conditions such as major depressive disorder, post-traumatic stress disorder and Alzheimer’s disease through orally administered treatments.

The company’s lead candidate, BMB-101, is an oral 5-HT2A receptor-modulating compound in clinical development for mood and anxiety disorders.