Evercore ISI began coverage on shares of Mind Medicine (MindMed) (NASDAQ:MNMD - Free Report) in a research note published on Tuesday morning, Marketbeat Ratings reports. The brokerage issued an outperform rating and a $23.00 target price on the stock.
MNMD has been the topic of several other reports. Leerink Partnrs upgraded Mind Medicine (MindMed) to a "strong-buy" rating in a research report on Friday, October 11th. Leerink Partners began coverage on Mind Medicine (MindMed) in a report on Monday, October 14th. They issued an "outperform" rating and a $20.00 price target on the stock. Oppenheimer reaffirmed an "outperform" rating and set a $20.00 price objective on shares of Mind Medicine (MindMed) in a report on Tuesday, December 17th. 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 target price on the stock. Finally, HC Wainwright reaffirmed a "buy" rating and set a $55.00 target price on shares of Mind Medicine (MindMed) in a research note on Monday, November 11th. Ten 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 has an average rating of "Buy" and a consensus price target of $26.33.
Check Out Our Latest Stock Report on Mind Medicine (MindMed)
Mind Medicine (MindMed) Stock Performance
NASDAQ MNMD traded down $0.34 on Tuesday, reaching $6.79. 1,169,112 shares of the stock were exchanged, compared to its average volume of 1,311,103. The company has a current ratio of 9.00, a quick ratio of 9.00 and a debt-to-equity ratio of 0.09. Mind Medicine has a one year low of $3.82 and a one year high of $12.22. The firm has a market capitalization of $497.91 million, a PE ratio of -3.00 and a beta of 2.60. The company's 50-day simple moving average is $7.26 and its two-hundred day simple moving average is $6.92.
Mind Medicine (MindMed) (NASDAQ:MNMD - Get Free Report) last announced its quarterly earnings data 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 quarter in the prior year, the company earned ($0.53) EPS. Analysts expect that Mind Medicine will post -1.35 EPS for the current fiscal year.
Insiders Place Their Bets
In related news, CEO Robert Barrow sold 19,106 shares of the 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 completion of the transaction, the chief executive officer now owns 526,666 shares of the company's stock, valued at approximately $3,913,128.38. This trade represents a 3.50 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Dan Karlin sold 6,643 shares of the business's stock in a transaction that occurred 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 sale, the insider now directly owns 338,013 shares in the company, 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 28,022 shares of company stock valued at $208,203 in the last three months. Corporate insiders own 2.26% of the company's stock.
Institutional Trading of Mind Medicine (MindMed)
Institutional investors have recently bought and sold shares of the stock. Geode Capital Management LLC raised its stake in shares of 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 valued at $9,548,000 after acquiring an additional 162,933 shares during the period. Wellington Management Group LLP raised its position in Mind Medicine (MindMed) by 142.6% in 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. Barclays PLC lifted its stake in Mind Medicine (MindMed) by 203.6% in the third quarter. Barclays PLC now owns 136,098 shares of the company's stock worth $775,000 after purchasing an additional 91,271 shares during the last quarter. XTX Topco Ltd purchased a new position in shares of Mind Medicine (MindMed) during the third quarter valued at approximately $337,000. Finally, Oppenheimer & Co. Inc. bought a new position in shares of Mind Medicine (MindMed) during the third quarter valued at approximately $298,000. 27.91% of the stock is currently owned by institutional investors.
About Mind Medicine (MindMed)
(
Get Free Report)
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.
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