Mind Medicine (MindMed) (MNMD) Projected to Post Quarterly Earnings on Wednesday

Mind Medicine (MindMed) (NASDAQ:MNMD - Get Free Report) is anticipated to release its earnings data before the market opens on Wednesday, February 26th. Analysts expect Mind Medicine (MindMed) to post earnings of ($0.31) per share for the quarter. Persons that are interested in registering for the company's earnings conference call can do so using this link.

Mind Medicine (MindMed) Stock Down 6.7 %

Shares of MNMD stock traded down $0.55 during mid-day trading on Friday, hitting $7.63. The stock had a trading volume of 2,231,563 shares, compared to its average volume of 2,462,428. Mind Medicine has a 12-month low of $4.54 and a 12-month high of $12.22. The firm has a market capitalization of $559.51 million, a P/E ratio of -3.38 and a beta of 2.59. The firm's 50-day moving average is $7.53 and its two-hundred day moving average is $6.92. The company has a debt-to-equity ratio of 0.09, a current ratio of 9.00 and a quick ratio of 9.00.

Insider Buying and Selling

In related news, insider Dan Karlin sold 6,643 shares of the company's stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $7.43, for a total transaction of $49,357.49. Following the transaction, the insider now directly owns 338,013 shares of the company's stock, valued at $2,511,436.59. This represents a 1.93 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Robert Barrow sold 19,106 shares of the company's stock in a transaction dated Thursday, December 26th. The shares were sold at an average price of $7.43, for a total value 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 disclosure for this sale can be found here. Insiders sold 28,022 shares of company stock worth $208,203 in the last three months. 2.26% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages have weighed in on MNMD. HC Wainwright reiterated a "buy" rating and issued a $55.00 target price on shares of Mind Medicine (MindMed) in a report on Friday, January 31st. Oppenheimer reiterated an "outperform" rating and issued a $20.00 target price on shares of Mind Medicine (MindMed) in a report on Tuesday, December 17th. Chardan Capital began coverage on Mind Medicine (MindMed) in a report on Friday, December 20th. They issued a "buy" rating and a $20.00 target price for the company. Finally, Evercore ISI assumed coverage on Mind Medicine (MindMed) in a report on Tuesday, January 28th. They issued an "outperform" rating and a $23.00 target price for the company. Ten research analysts have rated the stock with a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $26.33.

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.