Mind Medicine (MindMed) (NASDAQ:MNMD) Now Covered by Analysts at Evercore ISI

Evercore ISI began coverage on shares of Mind Medicine (MindMed) (NASDAQ:MNMD - Free Report) in a research report sent to investors on Tuesday, Marketbeat.com reports. The brokerage issued an outperform rating and a $23.00 target price on the stock.

A number of other equities research analysts have also recently weighed in on MNMD. Leerink Partners assumed coverage on Mind Medicine (MindMed) in a research note on Monday, October 14th. They issued an "outperform" rating and a $20.00 price objective for the company. Leerink Partnrs raised Mind Medicine (MindMed) to a "strong-buy" rating in a report on Friday, October 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 target price for the company. Oppenheimer reiterated an "outperform" rating and issued a $20.00 price objective on shares of Mind Medicine (MindMed) in a research report on Tuesday, December 17th. Finally, HC Wainwright reissued a "buy" rating and set a $55.00 price target on shares of Mind Medicine (MindMed) in a research note on Monday, November 11th. Ten research analysts have rated the stock with a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $26.33.

Mind Medicine (MindMed) Stock Down 4.4 %

Shares of MNMD stock traded down $0.31 during trading hours on Tuesday, reaching $6.82. 943,624 shares of the stock were exchanged, compared to its average volume of 1,411,386. The business's fifty day moving average is $7.28 and its two-hundred day moving average is $6.94. The firm has a market capitalization of $500.05 million, a P/E ratio of -3.02 and a beta of 2.60. Mind Medicine has a 12-month low of $3.82 and a 12-month high of $12.22. The company has a debt-to-equity ratio of 0.09, a current ratio of 9.00 and a quick ratio of 9.00.

Mind Medicine (MindMed) (NASDAQ:MNMD - Get Free Report) last posted its earnings results on Thursday, November 7th. The company reported ($0.27) EPS for the quarter, beating the consensus estimate of ($0.29) by $0.02. During the same period in the previous year, the business posted ($0.53) earnings per share. As a group, research analysts expect that Mind Medicine will post -1.35 EPS for the current fiscal year.

Insider Buying and Selling at Mind Medicine (MindMed)

In related news, insider Dan Karlin sold 6,643 shares of the stock in a transaction on Thursday, December 26th. The stock was 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 in the company, valued at approximately $2,511,436.59. This represents a 1.93 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Robert Barrow sold 19,106 shares of the business's stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $7.43, for a total value of $141,957.58. Following the transaction, the chief executive officer now owns 526,666 shares in the company, valued at approximately $3,913,128.38. This represents a 3.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 28,022 shares of company stock worth $208,203 in the last 90 days. 2.26% of the stock is owned by company insiders.

Institutional Trading of Mind Medicine (MindMed)

Hedge funds and other institutional investors have recently modified their holdings of the business. Wealth Enhancement Advisory Services LLC acquired a new position in Mind Medicine (MindMed) during the 3rd quarter worth $58,000. Sanctuary Advisors LLC bought a new stake in Mind Medicine (MindMed) in the third quarter valued at about $91,000. Foundations Investment Advisors LLC acquired a new stake in Mind Medicine (MindMed) during the fourth quarter valued at approximately $91,000. Stoneridge Investment Partners LLC bought a new position in Mind Medicine (MindMed) during the 3rd quarter worth approximately $93,000. Finally, SG Americas Securities LLC acquired a new position in shares of Mind Medicine (MindMed) in the 3rd quarter worth approximately $93,000. 27.91% of the stock is owned by hedge funds and other institutional investors.

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.