Mind Medicine (MindMed) (NASDAQ:MNMD) Stock Price Up 5.9%

Mind Medicine (MindMed) Inc. (NASDAQ:MNMD - Get Free Report)'s stock price rose 5.9% during mid-day trading on Monday . The stock traded as high as $9.04 and last traded at $9.02. Approximately 417,570 shares were traded during mid-day trading, a decline of 78% from the average daily volume of 1,868,930 shares. The stock had previously closed at $8.52.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. HC Wainwright reiterated a "buy" rating and issued a $75.00 target price on shares of Mind Medicine (MindMed) in a research report on Thursday, March 14th. Royal Bank of Canada increased their price objective on shares of Mind Medicine (MindMed) from $14.00 to $15.00 and gave the stock an "outperform" rating in a research note on Thursday, February 29th. Leerink Partnrs restated an "outperform" rating on shares of Mind Medicine (MindMed) in a research report on Monday, April 15th. Finally, SVB Leerink initiated coverage on shares of Mind Medicine (MindMed) in a report on Monday, April 15th. They issued an "outperform" rating and a $20.00 price target on the stock. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $25.20.

Mind Medicine (MindMed) Trading Up 6.0 %

The company has a quick ratio of 3.22, a current ratio of 3.22 and a debt-to-equity ratio of 0.18. The company's 50-day moving average is $8.47 and its 200 day moving average is $5.18. The company has a market cap of $634.54 million, a price-to-earnings ratio of -3.68 and a beta of 2.80.

Mind Medicine (MindMed) (NASDAQ:MNMD - Get Free Report) last posted its earnings results on Wednesday, February 28th. The company reported ($0.59) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.48) by ($0.11). Research analysts predict that Mind Medicine will post -1.72 EPS for the current year.

Insider Buying and Selling at Mind Medicine (MindMed)

In other news, insider Dan Karlin sold 6,578 shares of the business's stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $9.50, for a total value of $62,491.00. Following the completion of the sale, the insider now directly owns 358,452 shares in the company, valued at $3,405,294. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Mind Medicine (MindMed) news, insider Dan Karlin sold 6,578 shares of the stock in a transaction on Monday, March 25th. The shares were sold at an average price of $9.50, for a total transaction of $62,491.00. Following the transaction, the insider now directly owns 358,452 shares of the company's stock, valued at $3,405,294. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Robert Barrow sold 16,519 shares of Mind Medicine (MindMed) stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $9.50, for a total transaction of $156,930.50. Following the completion of the sale, the chief executive officer now owns 580,202 shares in the company, valued at approximately $5,511,919. The disclosure for this sale can be found here. 2.11% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Mind Medicine (MindMed)

Several large investors have recently bought and sold shares of the company. Citigroup Inc. purchased a new position in shares of Mind Medicine (MindMed) in the third quarter valued at approximately $273,000. Commonwealth Equity Services LLC acquired a new position in Mind Medicine (MindMed) in the 3rd quarter valued at $53,000. Rathbones Group PLC purchased a new position in Mind Medicine (MindMed) in the 3rd quarter valued at $78,000. Jump Financial LLC acquired a new stake in Mind Medicine (MindMed) during the 3rd quarter worth $106,000. Finally, Regal Investment Advisors LLC purchased a new stake in shares of Mind Medicine (MindMed) during the third quarter worth $46,000. 27.91% of the stock is currently owned by hedge funds and other institutional investors.

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 for the treatment of core symptoms of autism spectrum disorder.