Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) Shares Purchased by Marshall Wace LLP

Marshall Wace LLP raised its holdings in shares of Mind Medicine (MindMed) Inc. (NASDAQ:MNMD - Free Report) by 9.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,501,391 shares of the company's stock after buying an additional 213,526 shares during the quarter. Marshall Wace LLP owned about 3.41% of Mind Medicine (MindMed) worth $17,410,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of MNMD. State Street Corp grew its stake in Mind Medicine (MindMed) by 0.5% during the 3rd 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 in the last quarter. Barclays PLC grew its position in shares of Mind Medicine (MindMed) by 203.6% in 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 in the last quarter. Geode Capital Management LLC increased its holdings in shares of Mind Medicine (MindMed) by 10.8% in 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 last quarter. Sanctuary Advisors LLC purchased a new position in Mind Medicine (MindMed) during the third quarter worth approximately $91,000. Finally, JPMorgan Chase & Co. boosted its stake in Mind Medicine (MindMed) by 8.2% during the third quarter. JPMorgan Chase & Co. now owns 36,995 shares of the company's stock worth $211,000 after buying an additional 2,797 shares during the last quarter. 27.91% of the stock is currently owned by institutional investors and hedge funds.

Mind Medicine (MindMed) Trading Down 3.1 %

NASDAQ:MNMD traded down $0.20 during trading hours on Friday, reaching $6.23. 717,589 shares of the stock were exchanged, compared to its average volume of 1,391,707. The company has a quick ratio of 9.00, a current ratio of 9.00 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $469.54 million, a price-to-earnings ratio of -2.76 and a beta of 2.54. Mind Medicine has a twelve month low of $4.70 and a twelve month high of $10.44. The business has a 50-day moving average of $6.24 and a two-hundred day moving average of $6.91.

Mind Medicine (MindMed) (NASDAQ:MNMD - Get Free Report) last released its earnings results 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 quarter in the prior year, the business earned ($0.59) earnings per share. On average, equities analysts predict that Mind Medicine will post -1.35 EPS for the current year.

Insider Transactions at Mind Medicine (MindMed)

In related news, insider Daniel Karlin sold 6,836 shares of the stock in a transaction 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 transaction, 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 transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Robert Barrow sold 21,208 shares of the company's stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $6.74, for a total value of $142,941.92. Following the transaction, the chief executive officer now directly owns 856,556 shares of the company's stock, valued at approximately $5,773,187.44. This represents a 2.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 30,391 shares of company stock valued at $204,835. 2.26% of the stock is currently owned by company insiders.

Analyst Ratings Changes

MNMD has been the subject of a number of recent research reports. Robert W. Baird cut their target price 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. HC Wainwright reissued a "buy" rating and issued a $55.00 price objective on shares of Mind Medicine (MindMed) in a report on Friday, March 7th. Finally, Evercore ISI began coverage on shares of Mind Medicine (MindMed) in a research note on Tuesday, January 28th. They set an "outperform" rating and a $23.00 target price on the stock. Ten analysts have rated the stock with a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, Mind Medicine (MindMed) presently has a consensus rating of "Buy" and an average price target of $25.11.

About Mind Medicine (MindMed)

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.