AWM Investment Company Inc. Increases Holdings in Mind Medicine (MindMed) Inc. (NASDAQ:MNMD)

AWM Investment Company Inc. boosted its position in Mind Medicine (MindMed) Inc. (NASDAQ:MNMD - Free Report) by 39.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,193,162 shares of the company's stock after acquiring an additional 340,162 shares during the period. AWM Investment Company Inc. owned 1.63% of Mind Medicine (MindMed) worth $8,304,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in MNMD. Marshall Wace LLP boosted its holdings in Mind Medicine (MindMed) by 9.3% in the fourth quarter. Marshall Wace LLP now owns 2,501,391 shares of the company's stock worth $17,410,000 after acquiring an additional 213,526 shares in the last quarter. Tang Capital Management LLC bought a new position in shares of Mind Medicine (MindMed) in the fourth quarter valued at approximately $1,392,000. Allostery Investments LP bought a new position in shares of Mind Medicine (MindMed) in the fourth quarter valued at approximately $905,000. Millennium Management LLC lifted its holdings in shares of Mind Medicine (MindMed) by 134.5% in the fourth quarter. Millennium Management LLC now owns 185,721 shares of the company's stock valued at $1,293,000 after purchasing an additional 106,511 shares in the last quarter. Finally, Wealthfront Advisers LLC bought a new position in shares of Mind Medicine (MindMed) in the fourth quarter valued at approximately $717,000. Institutional investors own 27.91% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on MNMD. Chardan Capital restated a "buy" rating and issued a $20.00 target price on shares of Mind Medicine (MindMed) in a report on Friday, May 9th. HC Wainwright restated a "buy" rating and issued a $55.00 target price on shares of Mind Medicine (MindMed) in a report on Friday, March 7th. Robert W. Baird dropped their target price on Mind Medicine (MindMed) from $27.00 to $16.00 and set an "outperform" rating on the stock in a report on Friday, March 7th. Cantor Fitzgerald upgraded Mind Medicine (MindMed) to a "strong-buy" rating in a report on Tuesday, May 13th. Finally, Evercore ISI started coverage on Mind Medicine (MindMed) in a report on Tuesday, January 28th. They set an "outperform" rating and a $23.00 price target on the stock. Nine investment analysts have rated the stock with a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $25.11.

Insiders Place Their Bets

In other Mind Medicine (MindMed) news, insider Daniel Karlin sold 6,836 shares of the firm's stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $6.74, for a total value of $46,074.64. Following the completion of the sale, the insider now directly owns 446,177 shares of the company's stock, valued at $3,007,232.98. This trade represents a 1.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Robert Barrow sold 21,208 shares of the firm's stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $6.74, for a total value of $142,941.92. Following the completion of the sale, the chief executive officer now directly owns 856,556 shares of the company's stock, valued at $5,773,187.44. This represents a 2.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 30,391 shares of company stock valued at $204,835 over the last ninety days. 2.45% of the stock is currently owned by insiders.

Mind Medicine (MindMed) Stock Performance

Mind Medicine (MindMed) stock traded up $0.23 during mid-day trading on Friday, reaching $7.30. 1,344,403 shares of the company's stock were exchanged, compared to its average volume of 1,392,695. The business's fifty day simple moving average is $6.20 and its 200 day simple moving average is $6.98. The firm has a market capitalization of $550.19 million, a PE ratio of -3.23 and a beta of 2.52. Mind Medicine has a one year low of $4.70 and a one year high of $10.44. The company has a quick ratio of 9.00, a current ratio of 9.00 and a debt-to-equity ratio of 0.09.

Mind Medicine (MindMed) (NASDAQ:MNMD - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported ($0.35) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.36) by $0.01. On average, sell-side analysts expect that Mind Medicine will post -1.35 earnings per share for the current year.

Mind Medicine (MindMed) Profile

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.