Bright Minds Biosciences (NASDAQ:DRUG) Hits New 1-Year Low – Here’s What Happened

Posted by Stanley Muller on Oct 8th, 2026

Bright Minds Biosciences Inc. (NASDAQ:DRUG – Get Free Report)’s stock price hit a new 52-week low during mid-day trading on Thursday. The stock traded as low as $47.23 and last traded at $52.1290, with a volume of 688816 shares changing hands. The stock had previously closed at $52.00.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Wall Street Zen cut Bright Minds Biosciences from a “hold” rating to a “sell” rating in a report on Saturday, October 3rd. Oppenheimer lowered Bright Minds Biosciences to a “market perform” rating in a research note on Thursday, August 20th. Zacks Research cut Bright Minds Biosciences from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 15th. Benchmark reiterated a “buy” rating on shares of Bright Minds Biosciences in a research note on Thursday, August 20th. Finally, HC Wainwright reissued a “buy” rating and set a $145.00 target price on shares of Bright Minds Biosciences in a report on Wednesday, August 19th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Bright Minds Biosciences currently has an average rating of “Moderate Buy” and an average price target of $143.83.

Read Our Latest Stock Report on Bright Minds Biosciences

Bright Minds Biosciences Trading Down 3.5%

The company has a 50 day moving average of $67.61 and a 200-day moving average of $73.17. The firm has a market capitalization of $488.21 million, a P/E ratio of -24.12 and a beta of -5.22.

Bright Minds Biosciences (NASDAQ:DRUG – Get Free Report) last posted its quarterly earnings data on Friday, August 14th. The company reported ($0.17) earnings per share for the quarter, topping the consensus estimate of ($1.22) by $1.05. As a group, sell-side analysts forecast that Bright Minds Biosciences Inc. will post -2.93 EPS for the current fiscal year.

Hedge Funds Weigh In On Bright Minds Biosciences

A number of hedge funds have recently bought and sold shares of the business. Orbimed Advisors LLC bought a new position in Bright Minds Biosciences during the 1st quarter worth $2,919,000. Janus Henderson Group PLC raised its holdings in Bright Minds Biosciences by 11.1% in the 1st quarter. Janus Henderson Group PLC now owns 1,284,324 shares of the company’s stock valued at $93,518,000 after acquiring an additional 128,329 shares in the last quarter. Vivo Capital LLC lifted its position in shares of Bright Minds Biosciences by 11.1% during the 1st quarter. Vivo Capital LLC now owns 557,172 shares of the company’s stock valued at $40,657,000 after acquiring an additional 55,555 shares during the period. ADAR1 Capital Management LLC lifted its position in shares of Bright Minds Biosciences by 868.6% during the 1st quarter. ADAR1 Capital Management LLC now owns 33,900 shares of the company’s stock valued at $2,474,000 after acquiring an additional 30,400 shares during the period. Finally, Walleye Capital LLC grew its holdings in shares of Bright Minds Biosciences by 108.0% during the 1st 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 in the last quarter. 40.52% of the stock is owned by institutional investors.

About Bright Minds Biosciences

(Get Free Report)

Bright Minds Biosciences Inc is a biotechnology company focused on developing next-generation therapeutics for neuropsychiatric and neurological disorders. The company’s research is centered on selective serotonin receptor agonists designed to address conditions involving disrupted brain signaling while potentially avoiding some of the adverse effects associated with older serotonergic medicines.

Bright Minds’ lead product candidate is BMB-101, a selective 5-HT2C receptor agonist being developed for disorders including epilepsy and other conditions involving neuronal hyperexcitability.