Northern Trust Corp Has $4.77 Million Holdings in Mind Medicine (MindMed) Inc. (NASDAQ:MNMD)

Northern Trust Corp grew its position in Mind Medicine (MindMed) Inc. (NASDAQ:MNMD - Free Report) by 12.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 684,836 shares of the company's stock after buying an additional 76,559 shares during the quarter. Northern Trust Corp owned approximately 0.93% of Mind Medicine (MindMed) worth $4,766,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Marshall Wace LLP lifted its position in shares of Mind Medicine (MindMed) by 9.3% in the 4th quarter. Marshall Wace LLP now owns 2,501,391 shares of the company's stock valued at $17,410,000 after acquiring an additional 213,526 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Mind Medicine (MindMed) by 2.7% in the fourth quarter. Geode Capital Management LLC now owns 1,723,088 shares of the company's stock valued at $11,996,000 after purchasing an additional 45,386 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Mind Medicine (MindMed) by 5.4% in the fourth quarter. Bank of New York Mellon Corp now owns 200,121 shares of the company's stock valued at $1,393,000 after purchasing an additional 10,338 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Mind Medicine (MindMed) by 4.7% in the fourth quarter. Wellington Management Group LLP now owns 194,491 shares of the company's stock worth $1,354,000 after buying an additional 8,769 shares during the period. Finally, Barclays PLC grew its holdings in shares of Mind Medicine (MindMed) by 14.2% during the fourth quarter. Barclays PLC now owns 155,434 shares of the company's stock valued at $1,082,000 after buying an additional 19,336 shares in the last quarter. 27.91% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently weighed in on MNMD shares. Cantor Fitzgerald raised Mind Medicine (MindMed) to a "strong-buy" rating in a research report on Tuesday, May 13th. Chardan Capital reissued a "buy" rating and issued a $20.00 price target on shares of Mind Medicine (MindMed) in a research report on Friday, May 9th. HC Wainwright restated a "buy" rating and set a $55.00 price target on shares of Mind Medicine (MindMed) in a report on Friday, March 7th. Evercore ISI started coverage on shares of 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. Finally, Robert W. Baird cut their target price on shares of Mind Medicine (MindMed) from $27.00 to $16.00 and set an "outperform" rating for the company in a research report on Friday, March 7th. Nine equities research analysts have rated the stock with a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Buy" and an average target price of $25.11.

Mind Medicine (MindMed) Stock Performance

MNMD stock opened at $6.94 on Thursday. The firm has a 50 day moving average of $6.17 and a two-hundred day moving average of $6.97. Mind Medicine has a 12 month low of $4.70 and a 12 month high of $10.44. The company has a market capitalization of $523.05 million, a price-to-earnings ratio of -3.07 and a beta of 2.52. 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 posted its 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 anticipate that Mind Medicine will post -1.35 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Robert Barrow sold 21,208 shares of the firm's stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $6.74, for a total value of $142,941.92. Following the sale, the chief executive officer now directly owns 856,556 shares of the company's stock, valued at approximately $5,773,187.44. This trade represents a 2.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Daniel Karlin sold 6,836 shares of Mind Medicine (MindMed) stock in a transaction dated 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 owns 446,177 shares in the company, valued at $3,007,232.98. The trade was 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 worth $204,835. 2.45% of the stock is currently owned by insiders.

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.

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