Capital Advisors Inc. OK acquired a new stake in Mind Medicine (MindMed) Inc. (NASDAQ:MNMD - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 50,000 shares of the company's stock, valued at approximately $292,000. Capital Advisors Inc. OK owned approximately 0.07% of Mind Medicine (MindMed) at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Oppenheimer & Co. Inc. increased its stake in Mind Medicine (MindMed) by 8.5% during the 1st quarter. Oppenheimer & Co. Inc. now owns 71,115 shares of the company's stock worth $416,000 after acquiring an additional 5,574 shares during the period. Palumbo Wealth Management LLC bought a new position in Mind Medicine (MindMed) during the 1st quarter worth $132,000. Janney Montgomery Scott LLC bought a new position in Mind Medicine (MindMed) during the 1st quarter worth $203,000. Rhumbline Advisers increased its stake in Mind Medicine (MindMed) by 7.7% during the 1st quarter. Rhumbline Advisers now owns 108,457 shares of the company's stock worth $634,000 after acquiring an additional 7,762 shares during the period. Finally, Wellington Management Group LLP increased its stake in Mind Medicine (MindMed) by 4.7% during the 4th quarter. Wellington Management Group LLP now owns 194,491 shares of the company's stock worth $1,354,000 after acquiring an additional 8,769 shares during the period. 27.91% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of equities analysts have commented on MNMD shares. Chardan Capital restated a "buy" rating and set a $20.00 price objective on shares of Mind Medicine (MindMed) in a research note on Friday, May 9th. Cantor Fitzgerald upgraded Mind Medicine (MindMed) to a "strong-buy" rating in a research note on Tuesday, May 13th. Eight investment analysts have rated the stock with a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $25.50.
Read Our Latest Research Report on MNMD
Insider Transactions at Mind Medicine (MindMed)
In other Mind Medicine (MindMed) news, insider Mark Sullivan sold 11,491 shares of the stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $6.80, for a total transaction of $78,138.80. Following the transaction, the insider directly owned 305,130 shares in the company, valued at approximately $2,074,884. This represents a 3.63% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Daniel Karlin sold 7,848 shares of the stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $6.80, for a total value of $53,366.40. Following the transaction, the insider owned 438,329 shares in the company, valued at $2,980,637.20. The trade was a 1.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 45,830 shares of company stock worth $311,644. Insiders own 2.45% of the company's stock.
Mind Medicine (MindMed) Trading Down 0.5%
Shares of NASDAQ:MNMD traded down $0.04 during midday trading on Friday, hitting $8.06. 1,578,362 shares of the stock were exchanged, compared to its average volume of 1,329,283. The stock has a market capitalization of $608.93 million, a price-to-earnings ratio of -6.25 and a beta of 2.45. The company has a debt-to-equity ratio of 0.10, a quick ratio of 7.27 and a current ratio of 7.27. The business's 50-day moving average price is $7.09 and its 200 day moving average price is $6.91. Mind Medicine has a 12 month low of $4.70 and a 12 month high of $10.44.
Mind Medicine (MindMed) (NASDAQ:MNMD - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported ($0.35) earnings per share for the quarter, topping the consensus estimate of ($0.36) by $0.01. Analysts predict that Mind Medicine will post -1.35 earnings per share for the current year.
About Mind Medicine (MindMed)
(
Free Report)
Mind Medicine (MindMed) Inc, a clinical stage biopharmaceutical company, develops novel products to treat brain health disorders. The company's lead product candidates include MM-120, which is in phase 2 for the treatment of generalized anxiety disorder and attention deficit hyperactivity disorder; and MM-402, a R-enantiomer of 3,4-methylenedioxymethamphetamine, which is in phase I clinical trials for the treatment of core symptoms of autism spectrum disorder.
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