Mind Medicine (MindMed) Inc. (NASDAQ:MNMD - Get Free Report) CEO Robert Barrow sold 26,491 shares of the business's stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $6.80, for a total transaction of $180,138.80. Following the completion of the sale, the chief executive officer now owns 830,065 shares of the company's stock, valued at approximately $5,644,442. The trade was a 3.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.
Mind Medicine (MindMed) Trading Down 2.8%
NASDAQ MNMD traded down $0.19 during trading on Friday, hitting $6.55. The company had a trading volume of 2,156,038 shares, compared to its average volume of 1,322,404. The company has a current ratio of 7.27, a quick ratio of 7.27 and a debt-to-equity ratio of 0.10. Mind Medicine has a one year low of $4.70 and a one year high of $10.44. The company has a market cap of $494.85 million, a price-to-earnings ratio of -5.08 and a beta of 2.52. The company's fifty day moving average is $6.88 and its 200-day moving average is $6.90.
Mind Medicine (MindMed) (NASDAQ:MNMD - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.35) EPS for the quarter, topping the consensus estimate of ($0.36) by $0.01. On average, sell-side analysts predict that Mind Medicine will post -1.35 earnings per share for the current year.
Institutional Trading of Mind Medicine (MindMed)
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Rhumbline Advisers grew its position in Mind Medicine (MindMed) by 5.1% during the 4th quarter. Rhumbline Advisers now owns 100,695 shares of the company's stock valued at $701,000 after purchasing an additional 4,868 shares during the last quarter. Bank of New York Mellon Corp grew its position in Mind Medicine (MindMed) by 5.4% during the 4th 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 during the last quarter. Oppenheimer & Co. Inc. grew its position in Mind Medicine (MindMed) by 25.1% during the 4th quarter. Oppenheimer & Co. Inc. now owns 65,541 shares of the company's stock valued at $456,000 after purchasing an additional 13,160 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Mind Medicine (MindMed) during the 4th quarter valued at about $111,000. Finally, SLT Holdings LLC purchased a new stake in Mind Medicine (MindMed) during the 4th quarter valued at about $91,000. 27.91% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of equities research analysts have recently weighed in on MNMD shares. Robert W. Baird lowered their price objective on shares of Mind Medicine (MindMed) from $27.00 to $16.00 and set an "outperform" rating for the company in a report on Friday, March 7th. Chardan Capital reiterated a "buy" rating and set a $20.00 price target on shares of Mind Medicine (MindMed) in a report on Friday, May 9th. Cantor Fitzgerald upgraded shares of Mind Medicine (MindMed) to a "strong-buy" rating in a report on Tuesday, May 13th. Finally, HC Wainwright reiterated a "buy" rating and set a $55.00 price target on shares of Mind Medicine (MindMed) in a report on Friday, March 7th. Eight investment analysts have rated the stock with a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, Mind Medicine (MindMed) presently has a consensus rating of "Buy" and a consensus price target of $25.50.
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Mind Medicine (MindMed) Company Profile
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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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