Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) Stake Raised by Geode Capital Management LLC

Geode Capital Management LLC raised its stake in shares of Mind Medicine (MindMed) Inc. (NASDAQ:MNMD - Free Report) by 2.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,723,088 shares of the company's stock after buying an additional 45,386 shares during the quarter. Geode Capital Management LLC owned about 2.35% of Mind Medicine (MindMed) worth $11,996,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Barclays PLC boosted its holdings in shares of Mind Medicine (MindMed) by 203.6% during the third quarter. Barclays PLC now owns 136,098 shares of the company's stock worth $775,000 after purchasing an additional 91,271 shares during the last quarter. SG Americas Securities LLC increased its holdings in shares of Mind Medicine (MindMed) by 48.8% during the 4th quarter. SG Americas Securities LLC now owns 24,406 shares of the company's stock worth $170,000 after buying an additional 8,004 shares during the last quarter. State Street Corp boosted its holdings in Mind Medicine (MindMed) by 0.5% in the third quarter. State Street Corp now owns 1,814,829 shares of the company's stock valued at $10,326,000 after acquiring an additional 9,782 shares during the last quarter. Rhumbline Advisers grew its position in Mind Medicine (MindMed) by 5.1% during the fourth quarter. Rhumbline Advisers now owns 100,695 shares of the company's stock valued at $701,000 after acquiring an additional 4,868 shares during the period. Finally, Wealth Enhancement Advisory Services LLC increased its stake in Mind Medicine (MindMed) by 21.9% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 12,430 shares of the company's stock worth $87,000 after acquiring an additional 2,230 shares during the last quarter. Institutional investors and hedge funds own 27.91% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on MNMD. HC Wainwright reiterated a "buy" rating and set a $55.00 target price on shares of Mind Medicine (MindMed) in a report on Friday, March 7th. Evercore ISI started coverage on shares of Mind Medicine (MindMed) in a research note on Tuesday, January 28th. They set an "outperform" rating and a $23.00 price objective for the company. Finally, Robert W. Baird cut 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 note on Friday, March 7th. Ten analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, Mind Medicine (MindMed) has a consensus rating of "Buy" and a consensus target price of $25.11.

Mind Medicine (MindMed) Stock Down 2.9 %

MNMD traded down $0.19 on Friday, reaching $6.24. The company's stock had a trading volume of 541,958 shares, compared to its average volume of 1,389,974. 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 has a 1 year low of $4.70 and a 1 year high of $10.44. The business's 50 day moving average is $6.28 and its 200 day moving average is $6.90. The stock has a market cap of $470.60 million, a price-to-earnings ratio of -2.77 and a beta of 2.54.

Mind Medicine (MindMed) (NASDAQ:MNMD - Get Free Report) last announced its quarterly earnings data on Thursday, March 6th. The company reported ($0.41) earnings per share for the quarter, missing the consensus estimate of ($0.33) by ($0.08). During the same period in the prior year, the business earned ($0.59) EPS. As a group, research analysts forecast that Mind Medicine will post -1.35 EPS for the current fiscal year.

Insider Activity at Mind Medicine (MindMed)

In related news, CEO Robert Barrow sold 21,208 shares of the stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $6.74, for a total transaction of $142,941.92. Following the sale, the chief executive officer now owns 856,556 shares in the company, valued at $5,773,187.44. This represents a 2.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Daniel Karlin sold 6,836 shares of the stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $6.74, for a total value of $46,074.64. Following the sale, the insider now owns 446,177 shares in the company, valued at $3,007,232.98. The trade was a 1.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 30,391 shares of company stock valued at $204,835 over the last three months. 2.26% of the stock is owned by insiders.

Mind Medicine (MindMed) 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.