Mind Medicine (MindMed) Inc. (NASDAQ:MNMD - Get Free Report) insider Daniel Karlin sold 7,848 shares of Mind Medicine (MindMed) stock in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $6.80, for a total value of $53,366.40. Following the sale, the insider now directly owns 438,329 shares in the company, valued at approximately $2,980,637.20. This trade represents a 1.76% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Mind Medicine (MindMed) Price Performance
MNMD stock traded down $0.10 on Thursday, hitting $6.74. 657,707 shares of the company's stock traded hands, compared to its average volume of 1,357,208. The stock has a market cap of $509.21 million, a price-to-earnings ratio of -5.22 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 7.27, a quick ratio of 7.27 and a debt-to-equity ratio of 0.10. The stock has a fifty day moving average of $6.85 and a 200-day moving average of $6.91.
Mind Medicine (MindMed) (NASDAQ:MNMD - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($0.35) earnings per share for the quarter, topping analysts' consensus estimates of ($0.36) by $0.01. On average, analysts forecast that Mind Medicine will post -1.35 EPS for the current fiscal year.
Wall Street Analyst Weigh In
Several analysts recently commented on the company. HC Wainwright restated a "buy" rating and issued a $55.00 target price on shares of Mind Medicine (MindMed) in a research report on Friday, March 7th. Cantor Fitzgerald raised Mind Medicine (MindMed) to a "strong-buy" rating in a research note on Tuesday, May 13th. Chardan Capital reiterated a "buy" rating and set a $20.00 price objective on shares of Mind Medicine (MindMed) in a research note on Friday, May 9th. Finally, Robert W. Baird dropped their target price on Mind Medicine (MindMed) from $27.00 to $16.00 and set an "outperform" rating on the stock in a report on Friday, March 7th. Eight investment analysts have rated the stock with a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $25.50.
Read Our Latest Report on Mind Medicine (MindMed)
Institutional Inflows and Outflows
Several institutional investors have recently made changes to their positions in the company. Diadema Partners LP purchased a new stake in shares of Mind Medicine (MindMed) in the 4th quarter valued at approximately $33,000. Hollencrest Capital Management raised its stake in Mind Medicine (MindMed) by 10,833.3% during the 4th quarter. Hollencrest Capital Management now owns 7,216 shares of the company's stock valued at $50,000 after purchasing an additional 7,150 shares during the period. Black Swift Group LLC acquired a new stake in shares of Mind Medicine (MindMed) in the first quarter worth $63,000. CreativeOne Wealth LLC acquired a new stake in shares of Mind Medicine (MindMed) in the first quarter worth $67,000. Finally, King Wealth Management Group purchased a new position in shares of Mind Medicine (MindMed) during the fourth quarter valued at $70,000. 27.91% of the stock is owned by hedge funds and other institutional investors.
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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