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 sale, the chief executive officer now owns 830,065 shares of the company's stock, valued at $5,644,442. This represents a 3.09% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.
Mind Medicine (MindMed) Stock Performance
Shares of NASDAQ:MNMD traded down $0.10 on Thursday, reaching $6.74. The company's stock had a trading volume of 657,707 shares, compared to its average volume of 1,357,208. The stock has a market capitalization of $509.21 million, a P/E ratio of -5.22 and a beta of 2.52. Mind Medicine has a 52-week low of $4.70 and a 52-week high of $10.44. The stock's 50-day moving average is $6.85 and its two-hundred day moving average is $6.91. The company has a debt-to-equity ratio of 0.10, a current ratio of 7.27 and a quick ratio of 7.27.
Mind Medicine (MindMed) (NASDAQ:MNMD - Get Free Report) last released 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, sell-side analysts forecast that Mind Medicine will post -1.35 EPS for the current year.
Analysts Set New Price Targets
MNMD has been the topic of several research analyst reports. Robert W. Baird cut their price target on shares of Mind Medicine (MindMed) from $27.00 to $16.00 and set an "outperform" rating on the stock in a research note on Friday, March 7th. HC Wainwright reaffirmed a "buy" rating and set a $55.00 price objective on shares of Mind Medicine (MindMed) in a report on Friday, March 7th. Chardan Capital reiterated a "buy" rating and set a $20.00 target price on shares of Mind Medicine (MindMed) in a research report on Friday, May 9th. Finally, Cantor Fitzgerald raised Mind Medicine (MindMed) to a "strong-buy" rating in a report on Tuesday, May 13th. Eight research analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, Mind Medicine (MindMed) currently has an average rating of "Buy" and an average price target of $25.50.
View Our Latest Report on MNMD
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently bought and sold shares of the business. Rhumbline Advisers grew its holdings in shares of Mind Medicine (MindMed) by 7.7% in the 1st quarter. Rhumbline Advisers now owns 108,457 shares of the company's stock worth $634,000 after acquiring an additional 7,762 shares during the period. AWM Investment Company Inc. grew its position in shares of Mind Medicine (MindMed) by 1.3% in the first quarter. AWM Investment Company Inc. now owns 1,208,162 shares of the company's stock valued at $7,068,000 after purchasing an additional 15,000 shares during the period. Ally Bridge Group NY LLC increased its stake in shares of Mind Medicine (MindMed) by 18.1% during the 1st quarter. Ally Bridge Group NY LLC now owns 390,143 shares of the company's stock valued at $2,282,000 after acquiring an additional 59,868 shares during the last quarter. Royal Bank of Canada raised its stake in Mind Medicine (MindMed) by 10.4% during the first quarter. Royal Bank of Canada now owns 65,237 shares of the company's stock worth $382,000 after purchasing an additional 6,148 shares during the period. Finally, DRW Securities LLC acquired a new stake in shares of Mind Medicine (MindMed) during the 1st quarter worth $292,000. Institutional investors and hedge funds own 27.91% of the company's stock.
About Mind Medicine (MindMed)
(
Get Free Report)
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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