<div id="readability-page-1"><p>Bright Minds Biosciences Inc. (NASDAQ:DRUG - Get Free Report) saw a large growth in short interest in January. As of January 15th, there was short interest totaling 564,277 shares,  a growth of 67.5% from the December 31st total of 336,924 shares. Based on an average daily trading volume, of 362,208 shares, the days-to-cover ratio is currently 1.6 days. Currently, 10.1% of the shares of the stock are short sold. Currently, 10.1% of the shares of the stock are short sold. Based on an average daily trading volume, of 362,208 shares, the days-to-cover ratio is currently 1.6 days.</p><h2>Wall Street Analysts Forecast Growth</h2><ul><li>Biotechs on the Brink: 2 Stocks With Huge Potential</li></ul><p>Several research analysts have recently issued reports on DRUG shares. Cantor Fitzgerald  reiterated an &#34;overweight&#34; rating on shares of Bright Minds Biosciences in a report on Monday, December 1st. Zacks Research lowered Bright Minds Biosciences from a &#34;strong-buy&#34; rating to a &#34;hold&#34; rating in a research note on Tuesday, December 2nd. Chardan Capital  reiterated a &#34;buy&#34; rating and set a $80.00 price target on shares of Bright Minds Biosciences in a research report on Friday, January 2nd. HC Wainwright  restated a &#34;buy&#34; rating and issued a $115.00 price objective on shares of Bright Minds Biosciences in a report on Tuesday, December 30th. Finally, Robert W. Baird  set a $142.00 target price on Bright Minds Biosciences in a research note on Wednesday, January 7th. Five analysts have rated the stock with a Buy rating and one  has assigned  a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of &#34;Moderate Buy&#34; and an average target price of $121.00.</p><p><b>View Our Latest Report on DRUG</b></p><h2>Bright Minds Biosciences Price Performance</h2><ul><li>Bright Minds Biosciences Stock Surges Almost 1,500%</li></ul><p>Shares of NASDAQ:DRUG traded down $4.73 on Friday, reaching $77.75. 197,018 shares of the company traded hands, compared to its average volume of 240,786. The stock has a market capitalization of $756.51 million, a PE ratio of -63.73 and a beta of -6.15. The company's 50 day moving average is $81.91 and its 200-day moving average is $59.82. Bright Minds Biosciences has a fifty-two week low of $23.17 and a fifty-two week high of $123.75. </p><h2>Hedge Funds Weigh In On Bright Minds Biosciences</h2><p>Institutional investors have recently bought and sold shares of the stock. Police &amp; Firemen s Retirement System of New Jersey purchased a new stake in  Bright Minds Biosciences during the second quarter valued at about $28,000.  JPMorgan Chase &amp; Co. raised its holdings in shares of  Bright Minds Biosciences by 624.3% during the second quarter. JPMorgan Chase &amp; Co. now owns 2,173 shares of the company's stock valued at $57,000 after acquiring an additional 1,873 shares during the period.  Russell Investments Group Ltd. purchased a new stake in shares of  Bright Minds Biosciences in the 3rd quarter valued at approximately $58,000.  MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of  Bright Minds Biosciences in the 2nd quarter valued at approximately $66,000.  Finally, Gordian Capital Singapore Pte Ltd acquired a new position in  Bright Minds Biosciences in the 3rd quarter worth approximately $73,000. Hedge funds and other institutional investors own  40.52% of the company's stock. </p><h2>Bright Minds Biosciences Company Profile</h2> (Get Free Report)<p>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. </p><p>The company’s lead candidate, BMB-101, is an oral 5-HT2A receptor-modulating compound in clinical development for mood and anxiety disorders.</p><h2>Further Reading</h2><ul><li>Five stocks we like better than Bright Minds Biosciences</li><li>Do not delete, read immediately</li><li>NEW LAW: Congress Approves Setup For Digital Dollar?</li><li>“Fed Proof” Your Bank Account with THESE 4 Simple Steps</li><li>A U.S. “birthright” claim worth trillions - activated quietly</li><li>The Crash Has Already Started (Most Just Don’t See It Yet)</li></ul><p><em>This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.</em></p><h2>Should You Invest $1,000 in Bright Minds Biosciences Right Now?</h2><p>Before you consider Bright Minds Biosciences, you'll want to hear this.</p><p>MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Bright Minds Biosciences wasn't on the list.</p><p>While Bright Minds Biosciences currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.</p><p>View The Five Stocks Here</p>                  </div>

<p>Bright Minds Biosciences Inc. (NASDAQ:DRUG) experienced a significant increase in short interest, rising by 67.5% in January, totaling 564,277 shares. Currently, 10.1% of the company's shares are sold short, with a days-to-cover ratio of 1.6 days based on an average daily volume of 362,208 shares. Analysts have mixed ratings on the stock, with a consensus rating of "Moderate Buy" and an average target price of $121.00. The stock has seen substantial volatility, trading at $77.75 recently, down $4.73.</p>

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Short Interest in Bright Minds Biosciences Inc. (NASDAQ:DRUG) Rises By 67.5%