Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) Receives $26.33 Average PT from Brokerages

Shares of Mind Medicine (MindMed) Inc. (NASDAQ:MNMD - Get Free Report) have received a consensus rating of "Buy" from the thirteen brokerages that are covering the stock, Marketbeat.com reports. Ten equities research analysts have rated the stock with a buy rating and three have given a strong buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $25.11.

MNMD has been the topic of a number of analyst reports. Robert W. Baird cut their price objective 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. Chardan Capital started coverage on shares of Mind Medicine (MindMed) in a research note on Friday, December 20th. They issued a "buy" rating and a $20.00 price objective for the company. HC Wainwright reaffirmed a "buy" rating and set a $55.00 target price on shares of Mind Medicine (MindMed) in a research note on Friday. Oppenheimer reissued an "outperform" rating and set a $20.00 price target on shares of Mind Medicine (MindMed) in a research note on Tuesday, December 17th. Finally, Evercore ISI started coverage on Mind Medicine (MindMed) in a research report on Tuesday, January 28th. They set an "outperform" rating and a $23.00 target price for the company.

Insider Buying and Selling at Mind Medicine (MindMed)

In related news, insider Dan Karlin sold 6,643 shares of the firm's stock in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $7.43, for a total transaction of $49,357.49. Following the sale, the insider now owns 338,013 shares in the company, valued at approximately $2,511,436.59. This trade represents a 1.93 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Robert Barrow sold 19,106 shares of the stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $7.43, for a total value of $141,957.58. Following the completion of the transaction, the chief executive officer now directly owns 526,666 shares in the company, valued at $3,913,128.38. This trade represents a 3.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 28,022 shares of company stock worth $208,203. 2.26% of the stock is owned by insiders.

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Institutional Investors Weigh In On Mind Medicine (MindMed)

Several institutional investors and hedge funds have recently made changes to their positions in MNMD. AWM Investment Company Inc. raised its holdings in shares of Mind Medicine (MindMed) by 39.9% during the fourth quarter. AWM Investment Company Inc. now owns 1,193,162 shares of the company's stock valued at $8,304,000 after buying an additional 340,162 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Mind Medicine (MindMed) by 20.9% during the 4th 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 acquiring an additional 14,691 shares in the last quarter. Woodline Partners LP boosted its position in 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 during the period. Two Sigma Advisers LP grew its stake in shares of Mind Medicine (MindMed) by 28.1% in the fourth quarter. Two Sigma Advisers LP now owns 24,650 shares of the company's stock worth $172,000 after purchasing an additional 5,400 shares in the last quarter. Finally, Tang Capital Management LLC acquired a new position in shares of Mind Medicine (MindMed) during the fourth quarter valued at $1,392,000. 27.91% of the stock is owned by institutional investors and hedge funds.

Mind Medicine (MindMed) Price Performance

Shares of Mind Medicine (MindMed) stock traded up $0.10 during trading on Friday, reaching $6.71. 681,549 shares of the stock traded hands, compared to its average volume of 1,682,944. The business has a fifty day simple moving average of $7.42 and a two-hundred day simple moving average of $6.90. Mind Medicine has a 52-week low of $5.03 and a 52-week high of $12.22. The company has a market capitalization of $491.69 million, a price-to-earnings ratio of -2.98 and a beta of 2.57. The company has a debt-to-equity ratio of 0.09, a current ratio of 9.00 and a quick ratio of 9.00.

Mind Medicine (MindMed) (NASDAQ:MNMD - Get Free Report) last released its quarterly earnings results on Thursday, March 6th. The company reported ($0.41) EPS for the quarter, missing the consensus estimate of ($0.33) by ($0.08). During the same period in the prior year, the firm posted ($0.59) earnings per share. Sell-side analysts expect that Mind Medicine will post -1.35 EPS for the current year.

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.