Capital Advisors Inc. OK purchased a new position in Mind Medicine (MindMed) Inc. (NASDAQ:MNMD - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 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) as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors also recently added to or reduced their stakes in MNMD. Diadema Partners LP purchased a new position in shares of Mind Medicine (MindMed) in the fourth quarter valued at approximately $33,000. Hollencrest Capital Management raised its stake in Mind Medicine (MindMed) by 10,833.3% in the 4th quarter. Hollencrest Capital Management now owns 7,216 shares of the company's stock valued at $50,000 after purchasing an additional 7,150 shares during the last quarter. King Wealth Management Group acquired a new position in Mind Medicine (MindMed) in the 4th quarter valued at $70,000. Virtus ETF Advisers LLC purchased a new position in Mind Medicine (MindMed) in the 4th quarter valued at $70,000. Finally, Sharpepoint LLC acquired a new stake in Mind Medicine (MindMed) during the 4th quarter worth $71,000. 27.91% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of brokerages have recently commented on MNMD. Chardan Capital reiterated a "buy" rating and issued a $20.00 target price on shares of Mind Medicine (MindMed) in a research report on Friday, May 9th. Cantor Fitzgerald raised shares of Mind Medicine (MindMed) to a "strong-buy" rating in a research note on Tuesday, May 13th. Eight research analysts have rated the stock with a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, Mind Medicine (MindMed) has an average rating of "Buy" and a consensus price target of $25.50.
Check Out Our Latest Report on MNMD
Insider Buying and Selling
In other news, insider Daniel Karlin sold 7,848 shares of the stock in a transaction dated 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 approximately $2,980,637.20. This represents a 1.76% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Mark Sullivan sold 11,491 shares of the firm's stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $6.80, for a total value of $78,138.80. Following the sale, the insider directly owned 305,130 shares in the company, valued at $2,074,884. This trade represents a 3.63% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 45,830 shares of company stock worth $311,644. Corporate insiders own 2.26% of the company's stock.
Mind Medicine (MindMed) Stock Up 3.7%
Shares of Mind Medicine (MindMed) stock traded up $0.28 on Wednesday, reaching $7.75. 239,453 shares of the company were exchanged, compared to its average volume of 1,321,651. The stock's 50 day moving average price is $7.01 and its 200-day moving average price is $6.89. The company has a debt-to-equity ratio of 0.10, a current ratio of 7.27 and a quick ratio of 7.27. Mind Medicine has a 1-year low of $4.70 and a 1-year high of $10.44. The company has a market cap of $585.13 million, a P/E ratio of -5.97 and a beta of 2.45.
Mind Medicine (MindMed) (NASDAQ:MNMD - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported ($0.35) EPS for the quarter, topping the consensus estimate of ($0.36) by $0.01. As a group, equities analysts forecast that Mind Medicine will post -1.35 EPS 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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