Mind Medicine (MindMed) Inc. (NASDAQ:MNMD - Get Free Report) insider Daniel Karlin sold 6,836 shares of the company's stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $6.74, for a total transaction of $46,074.64. Following the completion of the sale, the insider now owns 446,177 shares of the company's stock, valued at $3,007,232.98. This represents a 1.51 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website.
Mind Medicine (MindMed) Stock Performance
NASDAQ:MNMD traded down $0.24 during trading hours on Friday, hitting $6.19. 1,096,667 shares of the company traded hands, compared to its average volume of 1,426,184. The company has a current ratio of 9.00, a quick ratio of 9.00 and a debt-to-equity ratio of 0.09. Mind Medicine has a twelve month low of $5.03 and a twelve month high of $12.22. The firm has a 50-day moving average of $7.26 and a 200 day moving average of $6.97. The stock has a market capitalization of $466.53 million, a price-to-earnings ratio of -2.74 and a beta of 2.57.
Mind Medicine (MindMed) (NASDAQ:MNMD - Get Free Report) last announced its quarterly earnings data on Thursday, March 6th. The company reported ($0.41) EPS for the quarter, missing analysts' consensus estimates of ($0.33) by ($0.08). During the same quarter last year, the business earned ($0.59) EPS. On average, analysts forecast that Mind Medicine will post -1.35 EPS for the current year.
Wall Street Analyst Weigh In
Several research firms have recently issued reports on MNMD. Robert W. Baird decreased their price target on Mind Medicine (MindMed) from $27.00 to $16.00 and set an "outperform" rating for the company in a research note on Friday, March 7th. Evercore ISI began 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. Oppenheimer reiterated an "outperform" rating and set a $20.00 price target on shares of Mind Medicine (MindMed) in a report on Tuesday, December 17th. HC Wainwright restated a "buy" rating and issued a $55.00 price objective on shares of Mind Medicine (MindMed) in a research note on Friday, March 7th. Finally, Chardan Capital started coverage on shares of Mind Medicine (MindMed) in a report on Friday, December 20th. They set a "buy" rating and a $20.00 price objective for the company. Ten investment 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.com, the stock has an average rating of "Buy" and an average price target of $25.11.
Check Out Our Latest Analysis on Mind Medicine (MindMed)
Institutional Trading of Mind Medicine (MindMed)
A number of hedge funds have recently modified their holdings of the company. Barclays PLC increased its position 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 valued at $775,000 after purchasing an additional 91,271 shares during the period. Wellington Management Group LLP boosted its stake in Mind Medicine (MindMed) by 142.6% during the third 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. Geode Capital Management LLC boosted its stake in 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 worth $9,548,000 after buying an additional 162,933 shares in the last quarter. SG Americas Securities LLC increased its holdings in Mind Medicine (MindMed) by 48.8% in the 4th quarter. SG Americas Securities LLC now owns 24,406 shares of the company's stock valued at $170,000 after buying an additional 8,004 shares during the period. Finally, State Street Corp raised its stake in shares of Mind Medicine (MindMed) by 0.5% in the 3rd quarter. State Street Corp now owns 1,814,829 shares of the company's stock valued at $10,326,000 after buying an additional 9,782 shares in the last quarter. Institutional investors own 27.91% of the company's stock.
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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