Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) Shares Sold by Two Sigma Investments LP

Two Sigma Investments LP decreased its stake in shares of Mind Medicine (MindMed) Inc. (NASDAQ:MNMD - Free Report) by 35.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 180,293 shares of the company's stock after selling 98,746 shares during the period. Two Sigma Investments LP owned about 0.25% of Mind Medicine (MindMed) worth $1,255,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the company. Corebridge Financial Inc. raised its stake in Mind Medicine (MindMed) by 4.1% during the fourth quarter. Corebridge Financial Inc. now owns 40,064 shares of the company's stock valued at $279,000 after buying an additional 1,569 shares in the last quarter. Commonwealth Equity Services LLC increased its holdings in shares of Mind Medicine (MindMed) by 9.9% in the 4th quarter. Commonwealth Equity Services LLC now owns 21,492 shares of the company's stock valued at $150,000 after acquiring an additional 1,928 shares during the last quarter. Teacher Retirement System of Texas raised its position in shares of Mind Medicine (MindMed) by 19.1% during the 4th quarter. Teacher Retirement System of Texas now owns 18,205 shares of the company's stock valued at $127,000 after acquiring an additional 2,915 shares in the last quarter. Invesco Ltd. lifted its stake in Mind Medicine (MindMed) by 12.4% during the fourth quarter. Invesco Ltd. now owns 41,400 shares of the company's stock worth $288,000 after purchasing an additional 4,564 shares during the last quarter. Finally, Diadema Partners LP acquired a new position in Mind Medicine (MindMed) in the fourth quarter worth $33,000. 27.91% of the stock is currently owned by institutional investors and hedge funds.

Mind Medicine (MindMed) Stock Performance

NASDAQ:MNMD traded up $0.10 during mid-day trading on Friday, hitting $7.79. The stock had a trading volume of 1,100,696 shares, compared to its average volume of 1,363,323. The company has a current ratio of 9.00, a quick ratio of 9.00 and a debt-to-equity ratio of 0.09. The company has a 50 day simple moving average of $6.35 and a 200-day simple moving average of $6.95. The stock has a market capitalization of $588.56 million, a price-to-earnings ratio of -3.45 and a beta of 2.52. Mind Medicine has a 52 week low of $4.70 and a 52 week high of $10.44.

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

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Robert W. Baird dropped their target price on shares of Mind Medicine (MindMed) from $27.00 to $16.00 and set an "outperform" rating on the stock in a report on Friday, March 7th. HC Wainwright reiterated a "buy" rating and set a $55.00 price objective on shares of Mind Medicine (MindMed) in a research note on Friday, March 7th. Cantor Fitzgerald raised shares of Mind Medicine (MindMed) to a "strong-buy" rating in a report on Tuesday, May 13th. Finally, Chardan Capital restated a "buy" rating and issued a $20.00 target price on shares of Mind Medicine (MindMed) in a research note on Friday, May 9th. Eight equities research analysts have rated the stock with a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $25.50.

Insider Buying and Selling

In other Mind Medicine (MindMed) news, CEO Robert Barrow sold 21,208 shares of Mind Medicine (MindMed) 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 sale, the chief executive officer now owns 856,556 shares of the company's stock, valued at $5,773,187.44. The trade was a 2.42% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Daniel Karlin sold 6,836 shares of the 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 transaction, the insider now directly owns 446,177 shares of the company's stock, valued at approximately $3,007,232.98. The trade was a 1.51% decrease in their position. The disclosure for this sale can be found here. Insiders sold 30,391 shares of company stock valued at $204,835 in the last three months. 2.45% of the stock is currently owned by corporate insiders.

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.