Bright Minds Biosciences (NASDAQ:DRUG) Stock Price Down 5.2% – What’s Next?

Posted by Brian Himes on Jun 10th, 2026

Bright Minds Biosciences Inc. (NASDAQ:DRUG – Get Free Report) shares fell 5.2% during mid-day trading on Monday . The company traded as low as $65.31 and last traded at $65.4130. 190,594 shares changed hands during trading, a decline of 7% from the average session volume of 204,992 shares. The stock had previously closed at $69.00.

Analyst Upgrades and Downgrades

DRUG has been the topic of several analyst reports. Robert W. Baird set a $126.00 target price on Bright Minds Biosciences in a report on Friday, February 13th. Wall Street Zen downgraded shares of Bright Minds Biosciences from a “hold” rating to a “sell” rating in a research report on Saturday, April 18th. Piper Sandler reaffirmed 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. BTIG Research reiterated a “buy” rating and set a $147.00 price objective on shares of Bright Minds Biosciences in a research report on Monday, March 30th. Finally, Jefferies Financial Group began coverage on shares of Bright Minds Biosciences in a research note on Monday, April 13th. They set a “buy” rating and a $145.00 target price for the company. Six equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $143.83.

Read Our Latest Stock Analysis on DRUG

Bright Minds Biosciences Stock Performance

The firm’s 50 day moving average price is $82.16 and its two-hundred day moving average price is $80.51. The company has a market cap of $655.87 million, a P/E ratio of -28.02 and a beta of -5.53.

Bright Minds Biosciences (NASDAQ:DRUG – Get Free Report) last posted its quarterly earnings results on Wednesday, May 20th. The company reported ($0.80) EPS for the quarter, topping analysts’ consensus estimates of ($0.86) by $0.06. As a group, analysts forecast that Bright Minds Biosciences Inc. will post -4.9 EPS for the current fiscal year.

Insider Buying and Selling

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 completion of the sale, the insider directly owned 950,000 shares of the company’s stock, valued at $85,025,000. The trade was a 10.32% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 42.66% of the stock is owned by insiders.

Institutional Investors Weigh In On Bright Minds Biosciences

A number of hedge funds have recently added to or reduced their stakes in DRUG. Braidwell LP acquired a new stake in Bright Minds Biosciences in the 3rd quarter valued at $18,422,000. Seven Grand Managers LLC bought a new stake in Bright Minds Biosciences during the 4th quarter valued at $3,902,000. JPMorgan Chase & Co. raised its holdings in Bright Minds Biosciences by 624.3% during the second quarter. JPMorgan Chase & Co. now owns 2,173 shares of the company’s stock worth $57,000 after buying an additional 1,873 shares during the last quarter. Royal Bank of Canada lifted its stake in shares of Bright Minds Biosciences by 240.0% in the fourth quarter. Royal Bank of Canada now owns 527 shares of the company’s stock valued at $40,000 after buying an additional 372 shares in the last quarter. Finally, Bank of America Corp DE lifted its stake in shares of Bright Minds Biosciences by 28.8% in the first quarter. Bank of America Corp DE now owns 19,422 shares of the company’s stock valued at $1,417,000 after buying an additional 4,347 shares in the last quarter. Institutional investors and hedge funds own 40.52% of the company’s stock.

About Bright Minds Biosciences

(Get 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.