Mind Medicine (MindMed) Inc. (NASDAQ:MNMD - Get Free Report)'s stock price fell 5.4% during trading on Wednesday . The company traded as low as $6.82 and last traded at $6.76. 172,487 shares were traded during mid-day trading, a decline of 87% from the average session volume of 1,354,460 shares. The stock had previously closed at $7.15.
Analysts Set New Price Targets
A number of brokerages have issued reports on MNMD. HC Wainwright reaffirmed a "buy" rating and set a $55.00 target price on shares of Mind Medicine (MindMed) in a research report on Friday, March 7th. Cantor Fitzgerald upgraded Mind Medicine (MindMed) to a "strong-buy" rating in a research note on Tuesday, May 13th. Chardan Capital restated a "buy" rating and issued a $20.00 price objective on shares of Mind Medicine (MindMed) in a research note on Friday, May 9th. Finally, Robert W. Baird decreased their target price on shares of Mind Medicine (MindMed) from $27.00 to $16.00 and set an "outperform" rating on the stock in a research report on Friday, March 7th. Eight research analysts have rated the stock with a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $25.50.
Get Our Latest Stock Report on Mind Medicine (MindMed)
Mind Medicine (MindMed) Stock Performance
The stock's 50 day simple moving average is $6.82 and its two-hundred day simple 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. The stock has a market cap of $511.87 million, a P/E ratio of -5.27 and a beta of 2.52.
Mind Medicine (MindMed) (NASDAQ:MNMD - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported ($0.35) earnings per share for the quarter, topping the consensus estimate of ($0.36) by $0.01. As a group, research analysts forecast that Mind Medicine will post -1.35 EPS for the current year.
Institutional Trading of Mind Medicine (MindMed)
Institutional investors have recently added to or reduced their stakes in the company. Marshall Wace LLP grew its holdings in shares of Mind Medicine (MindMed) by 9.3% during the 4th quarter. Marshall Wace LLP now owns 2,501,391 shares of the company's stock worth $17,410,000 after purchasing an additional 213,526 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Mind Medicine (MindMed) by 2.7% in the 4th 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. lifted its holdings in shares of Mind Medicine (MindMed) by 1.3% during the 1st quarter. AWM Investment Company Inc. now owns 1,208,162 shares of the company's stock worth $7,068,000 after acquiring an additional 15,000 shares during the period. Woodline Partners LP boosted its position in shares of Mind Medicine (MindMed) by 0.3% during the 4th quarter. Woodline Partners LP now owns 1,005,198 shares of the company's stock worth $6,996,000 after acquiring an additional 2,654 shares in the last quarter. Finally, Northern Trust Corp increased its stake in 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 acquiring an additional 76,559 shares during the last quarter. 27.91% of the stock is currently owned by 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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