Carrie Liao Sells 2,273 Shares of Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) Stock

Mind Medicine (MindMed) Inc. (NASDAQ:MNMD - Get Free Report) CAO Carrie Liao sold 2,273 shares of the firm's stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $7.43, for a total value of $16,888.39. Following the transaction, the chief accounting officer now owns 97,270 shares in the company, valued at approximately $722,716.10. This trade represents a 2.28 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Mind Medicine (MindMed) Price Performance

Shares of NASDAQ MNMD traded down $0.79 during midday trading on Friday, reaching $6.84. 1,788,905 shares of the company were exchanged, compared to its average volume of 1,424,540. The stock's 50-day moving average price is $7.25 and its 200-day moving average price is $6.98. The stock has a market cap of $501.59 million, a P/E ratio of -3.03 and a beta of 2.58. The company has a quick ratio of 9.00, a current ratio of 9.00 and a debt-to-equity ratio of 0.09. Mind Medicine has a one year low of $3.49 and a one year high of $12.22.

Institutional Investors Weigh In On Mind Medicine (MindMed)

Several hedge funds have recently modified their holdings of MNMD. Wealth Enhancement Advisory Services LLC bought a new position in Mind Medicine (MindMed) in the third quarter valued at about $58,000. Bridgewealth Advisory Group LLC acquired a new position in shares of Mind Medicine (MindMed) in the second quarter valued at approximately $72,000. Wealth Alliance acquired a new position in shares of Mind Medicine (MindMed) in the second quarter valued at approximately $79,000. Sanctuary Advisors LLC bought a new position in Mind Medicine (MindMed) in the 3rd quarter valued at approximately $91,000. Finally, SG Americas Securities LLC acquired a new stake in Mind Medicine (MindMed) during the 3rd quarter worth approximately $93,000. Institutional investors and hedge funds own 27.91% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on MNMD. Chardan Capital assumed coverage on Mind Medicine (MindMed) in a research report on Friday, December 20th. They issued a "buy" rating and a $20.00 price target on the stock. Leerink Partners started coverage on shares of Mind Medicine (MindMed) in a report on Monday, October 14th. They issued an "outperform" rating and a $20.00 target price on the stock. HC Wainwright reaffirmed a "buy" rating and set a $55.00 price target on shares of Mind Medicine (MindMed) in a report on Monday, November 11th. Leerink Partnrs raised shares of Mind Medicine (MindMed) to a "strong-buy" rating in a research note on Friday, October 11th. Finally, Canaccord Genuity Group cut their target price on Mind Medicine (MindMed) from $16.00 to $14.00 and set a "buy" rating for the company in a research note on Monday, September 16th. Nine investment analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $26.75.

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.