Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) CEO Sells $141,957.58 in Stock

Mind Medicine (MindMed) Inc. (NASDAQ:MNMD - Get Free Report) CEO Robert Barrow sold 19,106 shares of the company's stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $7.43, for a total transaction of $141,957.58. Following the sale, the chief executive officer now directly owns 526,666 shares in the company, valued at approximately $3,913,128.38. The trade was a 3.50 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Mind Medicine (MindMed) Trading Down 10.4 %

Shares of MNMD stock traded down $0.79 on Friday, reaching $6.84. 1,788,905 shares of the company's stock were exchanged, compared to its average volume of 1,424,540. The company's fifty day simple moving average is $7.25 and its 200 day simple moving average is $6.98. Mind Medicine has a 52 week low of $3.49 and a 52 week high of $12.22. The company has a current ratio of 9.00, a quick ratio of 9.00 and a debt-to-equity ratio of 0.09. The stock has a market capitalization of $501.59 million, a PE ratio of -3.03 and a beta of 2.58.

Institutional Trading of Mind Medicine (MindMed)

Institutional investors and hedge funds have recently made changes to their positions in the business. Bank of New York Mellon Corp increased its position in shares of Mind Medicine (MindMed) by 472.7% during the second quarter. Bank of New York Mellon Corp now owns 246,208 shares of the company's stock worth $1,775,000 after acquiring an additional 203,216 shares during the period. Geode Capital Management LLC grew its stake in 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 worth $9,548,000 after purchasing an additional 162,933 shares in the last quarter. Marshall Wace LLP increased its holdings in Mind Medicine (MindMed) by 8.1% during the 2nd quarter. Marshall Wace LLP now owns 2,160,203 shares of the company's stock worth $15,575,000 after purchasing an additional 161,659 shares during the period. Wellington Management Group LLP increased its holdings in 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 purchasing an additional 109,152 shares during the period. Finally, Rhumbline Advisers bought a new stake in Mind Medicine (MindMed) during the 2nd quarter valued at $679,000. 27.91% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on MNMD. HC Wainwright restated a "buy" rating and set a $55.00 target price on shares of Mind Medicine (MindMed) in a research report on Monday, November 11th. Chardan Capital started coverage on Mind Medicine (MindMed) in a research note on Friday, December 20th. They set a "buy" rating and a $20.00 price objective on the stock. Leerink Partnrs raised Mind Medicine (MindMed) to a "strong-buy" rating in a research note on Friday, October 11th. Canaccord Genuity Group dropped their target price on Mind Medicine (MindMed) from $16.00 to $14.00 and set a "buy" rating for the company in a report on Monday, September 16th. Finally, Oppenheimer restated an "outperform" rating and set a $20.00 price target on shares of Mind Medicine (MindMed) in a report on Tuesday, December 17th. Nine investment analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $26.75.

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.