Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) Shares Purchased by Barclays PLC

Barclays PLC boosted its stake in shares of Mind Medicine (MindMed) Inc. (NASDAQ:MNMD - Free Report) by 203.6% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 136,098 shares of the company's stock after acquiring an additional 91,271 shares during the period. Barclays PLC owned about 0.19% of Mind Medicine (MindMed) worth $775,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Tri Locum Partners LP raised its position in shares of Mind Medicine (MindMed) by 0.6% during the 2nd quarter. Tri Locum Partners LP now owns 382,055 shares of the company's stock worth $2,755,000 after purchasing an additional 2,459 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Mind Medicine (MindMed) by 22.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,226 shares of the company's stock worth $126,000 after buying an additional 4,079 shares in the last quarter. Cubist Systematic Strategies LLC raised its holdings in shares of Mind Medicine (MindMed) by 24.1% during the second quarter. Cubist Systematic Strategies LLC now owns 35,508 shares of the company's stock valued at $256,000 after acquiring an additional 6,890 shares during the last quarter. State Street Corp lifted its position in shares of 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 in the last quarter. Finally, Bridgewealth Advisory Group LLC acquired a new stake in shares of Mind Medicine (MindMed) in the second quarter worth approximately $72,000. 27.91% of the stock is owned by hedge funds and other institutional investors.

Mind Medicine (MindMed) Trading Up 3.9 %

Shares of Mind Medicine (MindMed) stock traded up $0.26 during mid-day trading on Wednesday, hitting $6.96. The stock had a trading volume of 836,894 shares, compared to its average volume of 1,421,080. The firm has a market cap of $510.39 million, a P/E ratio of -3.08 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. The firm has a 50-day moving average of $7.26 and a two-hundred day moving average of $6.95. Mind Medicine has a 12-month low of $3.49 and a 12-month high of $12.22.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other Mind Medicine (MindMed) news, CEO Robert Barrow sold 19,106 shares of the company's stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $7.43, for a total transaction of $141,957.58. Following the transaction, the chief executive officer now directly owns 526,666 shares in the company, valued at $3,913,128.38. This represents a 3.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Dan Karlin sold 6,643 shares of Mind Medicine (MindMed) stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $7.43, for a total value of $49,357.49. Following the completion of the sale, the insider now directly owns 338,013 shares of the company's stock, valued at $2,511,436.59. The trade was a 1.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 28,022 shares of company stock valued at $208,203 over the last quarter. 2.26% of the stock is owned by insiders.

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.