Mind Medicine (MindMed) Inc. (NASDAQ:MNMD - Get Free Report) insider Mark Sullivan sold 11,491 shares of the firm's 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 $78,138.80. Following the completion of the transaction, the insider now owns 305,130 shares in the company, valued at approximately $2,074,884. This trade represents a 3.63% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
Mind Medicine (MindMed) Trading Down 2.8%
NASDAQ:MNMD traded down $0.19 on Friday, reaching $6.55. The company's stock had a trading volume of 2,156,038 shares, compared to its average volume of 1,322,404. Mind Medicine has a 12-month low of $4.70 and a 12-month high of $10.44. The company has a quick ratio of 7.27, a current ratio of 7.27 and a debt-to-equity ratio of 0.10. The firm has a market cap of $494.85 million, a price-to-earnings ratio of -5.08 and a beta of 2.52. The stock has a 50 day moving average price of $6.88 and a 200 day moving average price of $6.90.
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, beating analysts' consensus estimates of ($0.36) by $0.01. On average, equities analysts anticipate that Mind Medicine will post -1.35 EPS for the current fiscal year.
Institutional Investors Weigh In On Mind Medicine (MindMed)
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Marshall Wace LLP raised its position in Mind Medicine (MindMed) by 9.3% in the fourth quarter. Marshall Wace LLP now owns 2,501,391 shares of the company's stock valued at $17,410,000 after purchasing an additional 213,526 shares during the period. Geode Capital Management LLC grew its stake 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 buying an additional 45,386 shares in the last quarter. AWM Investment Company Inc. grew its stake 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 buying an additional 15,000 shares in the last quarter. Woodline Partners LP grew its stake in shares of Mind Medicine (MindMed) by 0.3% in the fourth quarter. Woodline Partners LP now owns 1,005,198 shares of the company's stock valued at $6,996,000 after buying an additional 2,654 shares in the last quarter. Finally, Northern Trust Corp grew its stake in shares of Mind Medicine (MindMed) by 12.6% in the fourth quarter. Northern Trust Corp now owns 684,836 shares of the company's stock valued at $4,766,000 after buying an additional 76,559 shares in the last quarter. Hedge funds and other institutional investors own 27.91% of the company's stock.
Analyst Ratings Changes
MNMD has been the subject of several recent research reports. HC Wainwright reaffirmed a "buy" rating and issued a $55.00 price target on shares of Mind Medicine (MindMed) in a report on Friday, March 7th. Cantor Fitzgerald raised Mind Medicine (MindMed) to a "strong-buy" rating in a report on Tuesday, May 13th. Chardan Capital reaffirmed a "buy" rating and issued a $20.00 price target on shares of Mind Medicine (MindMed) in a report on Friday, May 9th. Finally, Robert W. Baird cut their price target on Mind Medicine (MindMed) from $27.00 to $16.00 and set an "outperform" rating for the company 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's stock. Based on data from MarketBeat, Mind Medicine (MindMed) presently has a consensus rating of "Buy" and an average price target of $25.50.
View Our Latest Report on Mind Medicine (MindMed)
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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