Barclays PLC raised its position in Mind Medicine (MindMed) Inc. (NASDAQ:MNMD - Free Report) by 203.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 136,098 shares of the company's stock after purchasing an additional 91,271 shares during the quarter. Barclays PLC owned about 0.19% of Mind Medicine (MindMed) worth $775,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently made changes to their positions in MNMD. Geode Capital Management LLC increased its holdings in shares of Mind Medicine (MindMed) by 10.8% during the third quarter. Geode Capital Management LLC now owns 1,677,702 shares of the company's stock valued at $9,548,000 after purchasing an additional 162,933 shares during the period. XTX Topco Ltd acquired a new position in Mind Medicine (MindMed) during the 3rd quarter valued at about $337,000. Wellington Management Group LLP raised its position in shares of Mind Medicine (MindMed) by 142.6% during the 3rd quarter. Wellington Management Group LLP now owns 185,722 shares of the company's stock worth $1,057,000 after buying an additional 109,152 shares in the last quarter. State Street Corp raised its position in shares of Mind Medicine (MindMed) by 0.5% during the 3rd quarter. State Street Corp now owns 1,814,829 shares of the company's stock worth $10,326,000 after buying an additional 9,782 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Mind Medicine (MindMed) by 22.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,226 shares of the company's stock worth $126,000 after acquiring an additional 4,079 shares during the period. Institutional investors own 27.91% of the company's stock.
Analyst Ratings Changes
Several brokerages recently commented on MNMD. Chardan Capital initiated coverage on Mind Medicine (MindMed) in a report on Friday, December 20th. They set a "buy" rating and a $20.00 target price on the stock. Leerink Partnrs raised Mind Medicine (MindMed) to a "strong-buy" rating in a research note on Friday, October 11th. Leerink Partners started coverage on Mind Medicine (MindMed) in a report on Monday, October 14th. They issued an "outperform" rating and a $20.00 price objective for the company. Oppenheimer reaffirmed an "outperform" rating and set a $20.00 target price on shares of Mind Medicine (MindMed) in a report on Tuesday, December 17th. Finally, HC Wainwright reissued a "buy" rating and issued a $55.00 price target on shares of Mind Medicine (MindMed) in a report on Monday, November 11th. Nine analysts have rated the stock with a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, Mind Medicine (MindMed) presently has an average rating of "Buy" and a consensus price target of $26.75.
Read Our Latest Stock Analysis on MNMD
Insider Buying and Selling at Mind Medicine (MindMed)
In related news, CEO Robert Barrow sold 19,106 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now owns 526,666 shares in the company, valued at approximately $3,913,128.38. This represents a 3.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, 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 transaction, the insider now directly owns 338,013 shares in the company, valued at approximately $2,511,436.59. The trade was a 1.93 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 28,022 shares of company stock valued at $208,203 in the last quarter. Company insiders own 2.26% of the company's stock.
Mind Medicine (MindMed) Stock Down 3.7 %
Shares of NASDAQ MNMD traded down $0.25 during mid-day trading on Thursday, reaching $6.51. The company had a trading volume of 892,468 shares, compared to its average volume of 1,463,503. The stock has a fifty day moving average of $7.44 and a two-hundred day moving average of $6.94. Mind Medicine has a 12-month low of $3.49 and a 12-month high of $12.22. The company has a market capitalization of $477.38 million, a price-to-earnings ratio of -2.88 and a beta of 2.60. The company has a debt-to-equity ratio of 0.09, a quick ratio of 9.00 and a current ratio of 9.00.
Mind Medicine (MindMed) Profile
(
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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