Mind Medicine (MindMed) Inc. (NASDAQ:MNMD - Get Free Report) insider Daniel Karlin sold 7,704 shares of the business's stock in a transaction on Thursday, September 25th. The stock was sold at an average price of $9.77, for a total value of $75,268.08. Following the transaction, the insider owned 430,625 shares of the company's stock, valued at $4,207,206.25. This trade represents a 1.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
Mind Medicine (MindMed) Stock Performance
MNMD stock traded up $0.90 during trading on Friday, reaching $10.67. 2,046,240 shares of the company's stock were exchanged, compared to its average volume of 1,472,912. The company has a quick ratio of 4.98, a current ratio of 4.98 and a debt-to-equity ratio of 0.22. Mind Medicine has a 1-year low of $4.70 and a 1-year high of $11.02. The company's fifty day moving average price is $9.56 and its 200-day moving average price is $7.68. The firm 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 announced its quarterly earnings data on Thursday, July 31st. The company reported ($0.50) earnings per share for the quarter, missing the consensus estimate of ($0.38) by ($0.12). On average, research analysts expect that Mind Medicine will post -1.35 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
Several analysts have recently weighed in on the company. Chardan Capital restated a "buy" rating and issued a $20.00 price objective on shares of Mind Medicine (MindMed) in a report on Friday, August 1st. Oppenheimer assumed coverage on Mind Medicine (MindMed) in a report on Monday, August 4th. They issued an "outperform" rating and a $25.00 price objective for the company. Two analysts have rated the stock with a Strong Buy rating and six have issued a Buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $26.50.
View Our Latest Report on MNMD
Institutional Investors Weigh In On Mind Medicine (MindMed)
Institutional investors and hedge funds have recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC raised its position in Mind Medicine (MindMed) by 32.8% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 13,550 shares of the company's stock valued at $94,000 after buying an additional 3,350 shares during the period. Deutsche Bank AG raised its position in Mind Medicine (MindMed) by 52.7% during the fourth quarter. Deutsche Bank AG now owns 71,595 shares of the company's stock valued at $498,000 after buying an additional 24,716 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Mind Medicine (MindMed) by 20.9% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 85,044 shares of the company's stock valued at $592,000 after buying an additional 14,691 shares during the period. Rhumbline Advisers raised its position in Mind Medicine (MindMed) by 7.7% during the first quarter. Rhumbline Advisers now owns 108,457 shares of the company's stock valued at $634,000 after buying an additional 7,762 shares during the period. Finally, Ameriprise Financial Inc. acquired a new position in Mind Medicine (MindMed) during the fourth quarter valued at $88,000. 27.91% of the stock is owned by institutional investors and hedge funds.
Mind Medicine (MindMed) Company Profile
(
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.
Further Reading
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