Mind Medicine (MindMed) (NASDAQ:MNMD) Insider Sells $110,186.06 in Stock

Key Points

• Mind Medicine (MindMed) insider Mark Sullivan sold 11,278 shares for $110,186.06, decreasing his ownership by 3.70% to approximately 293,852 shares.
• MindMed shares traded at $10.67, with a market cap of $811.86 million, and have seen a one-year price range from $4.70 to $11.02.
• Analysts have a consensus "Buy" rating for MindMed, with price targets ranging from $20.00 to $26.50 following recent coverage and reports.

Mind Medicine (MindMed) Inc. (NASDAQ:MNMD - Get Free Report) insider Mark Sullivan sold 11,278 shares of the company's stock in a transaction that occurred on Thursday, September 25th. The shares were sold at an average price of $9.77, for a total transaction of $110,186.06. Following the sale, the insider directly owned 293,852 shares of the company's stock, valued at approximately $2,870,934.04. This represents a 3.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Mind Medicine (MindMed) Price Performance

Shares of NASDAQ:MNMD traded up $0.90 during midday trading on Friday, reaching $10.67. 2,046,240 shares of the company were exchanged, compared to its average volume of 1,472,912. Mind Medicine has a one year low of $4.70 and a one year high of $11.02. The company has a current ratio of 4.98, a quick ratio of 4.98 and a debt-to-equity ratio of 0.22. The business's fifty day moving average is $9.56 and its two-hundred day moving average is $7.68. The stock has a market cap of $811.86 million, a PE ratio of -6.97 and a beta of 2.48.

Mind Medicine (MindMed) (NASDAQ:MNMD - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The company reported ($0.50) EPS for the quarter, missing the consensus estimate of ($0.38) by ($0.12). As a group, analysts predict that Mind Medicine will post -1.35 earnings per share for the current year.

Analysts Set New Price Targets

MNMD has been the subject of several research reports. Chardan Capital restated a "buy" rating and set a $20.00 price objective on shares of Mind Medicine (MindMed) in a research note on Friday, August 1st. Oppenheimer began coverage on shares of Mind Medicine (MindMed) in a report on Monday, August 4th. They set an "outperform" rating and a $25.00 target price for the company. Two research analysts have rated the stock with a Strong Buy rating and six have issued a Buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $26.50.

Institutional Trading of Mind Medicine (MindMed)

Several hedge funds have recently added to or reduced their stakes in MNMD. Ameriprise Financial Inc. acquired a new stake in Mind Medicine (MindMed) in the fourth quarter valued at approximately $88,000. BNP Paribas Financial Markets acquired a new stake in Mind Medicine (MindMed) in the fourth quarter valued at approximately $74,000. Deutsche Bank AG raised its holdings in Mind Medicine (MindMed) by 52.7% in the fourth quarter. Deutsche Bank AG now owns 71,595 shares of the company's stock valued at $498,000 after acquiring an additional 24,716 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Mind Medicine (MindMed) by 15.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 45,690 shares of the company's stock valued at $318,000 after acquiring an additional 6,182 shares in the last quarter. Finally, Millennium Management LLC raised its holdings in Mind Medicine (MindMed) by 134.5% in the fourth quarter. Millennium Management LLC now owns 185,721 shares of the company's stock valued at $1,293,000 after acquiring an additional 106,511 shares in the last quarter. Institutional investors and hedge funds own 27.91% of the company's stock.

Mind Medicine (MindMed) Company 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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