AWM Investment Company Inc. Has $8.30 Million Position in Mind Medicine (MindMed) Inc. (NASDAQ:MNMD)

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

A number of other large investors also recently modified their holdings of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Mind Medicine (MindMed) by 20.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 85,044 shares of the company's stock valued at $592,000 after acquiring an additional 14,691 shares during the last quarter. Woodline Partners LP boosted its holdings in Mind Medicine (MindMed) by 0.3% in the fourth quarter. Woodline Partners LP now owns 1,005,198 shares of the company's stock worth $6,996,000 after purchasing an additional 2,654 shares in the last quarter. Two Sigma Advisers LP raised its stake in shares of Mind Medicine (MindMed) by 28.1% in the 4th quarter. Two Sigma Advisers LP now owns 24,650 shares of the company's stock valued at $172,000 after acquiring an additional 5,400 shares in the last quarter. Tang Capital Management LLC acquired a new position in Mind Medicine (MindMed) in the 4th quarter valued at $1,392,000. Finally, ProShare Advisors LLC boosted its stake in Mind Medicine (MindMed) by 92.3% during the 4th quarter. ProShare Advisors LLC now owns 26,167 shares of the company's stock valued at $182,000 after purchasing an additional 12,562 shares during the period. 27.91% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on MNMD. Cantor Fitzgerald raised Mind Medicine (MindMed) to a "strong-buy" rating in a research report on Tuesday, May 13th. Evercore ISI assumed coverage on Mind Medicine (MindMed) in a research note on Tuesday, January 28th. They issued an "outperform" rating and a $23.00 price objective on the stock. Chardan Capital restated a "buy" rating and set a $20.00 target price on shares of Mind Medicine (MindMed) in a research report on Friday, May 9th. HC Wainwright reaffirmed a "buy" rating and issued a $55.00 price target on shares of Mind Medicine (MindMed) in a research note on Friday, March 7th. Finally, Robert W. Baird dropped their price objective on Mind Medicine (MindMed) from $27.00 to $16.00 and set an "outperform" rating for the company in a research note on Friday, March 7th. Nine research analysts have rated the stock with a buy rating and four have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $25.11.

Mind Medicine (MindMed) Price Performance

Shares of Mind Medicine (MindMed) stock traded up $0.23 during midday trading on Monday, reaching $7.30. The company had a trading volume of 1,344,403 shares, compared to its average volume of 1,394,373. The stock has a fifty day simple moving average of $6.20 and a 200 day simple moving average of $6.98. The company has a market capitalization of $550.19 million, a price-to-earnings ratio of -3.23 and a beta of 2.52. Mind Medicine has a 1-year low of $4.70 and a 1-year high of $10.44. The company has a current ratio of 9.00, a quick 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 for the quarter, beating the consensus estimate of ($0.36) by $0.01. As a group, equities research analysts forecast that Mind Medicine will post -1.35 earnings per share for the current year.

Insider Buying and Selling

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

About Mind Medicine (MindMed)

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.