Mind Medicine (MindMed) Inc. (NASDAQ:MNMD - Get Free Report) shares gapped up before the market opened on Friday . The stock had previously closed at $8.65, but opened at $9.18. Mind Medicine (MindMed) shares last traded at $10.00, with a volume of 2,300,502 shares changing hands.
Analyst Upgrades and Downgrades
MNMD has been the subject of several recent analyst reports. Evercore ISI initiated coverage on shares of Mind Medicine (MindMed) in a research report on Tuesday, January 28th. They issued an "outperform" rating and a $23.00 price objective on the stock. Oppenheimer restated an "outperform" rating and set a $20.00 price objective on shares of Mind Medicine (MindMed) in a research report on Tuesday, December 17th. HC Wainwright reaffirmed a "buy" rating and set a $55.00 price objective on shares of Mind Medicine (MindMed) in a report on Friday, January 31st. Finally, Chardan Capital started coverage on Mind Medicine (MindMed) in a research note on Friday, December 20th. They issued a "buy" rating and a $20.00 target price on the stock. Ten investment analysts have rated the stock with a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, Mind Medicine (MindMed) currently has an average rating of "Buy" and an average target price of $26.33.
View Our Latest Research Report on MNMD
Mind Medicine (MindMed) Stock Performance
The company has a market cap of $624.04 million, a P/E ratio of -3.77 and a beta of 2.59. The business has a 50 day moving average price of $7.49 and a two-hundred day moving average price of $6.90. The company has a debt-to-equity ratio of 0.09, a quick ratio of 9.00 and a current ratio of 9.00.
Insider Buying and Selling at Mind Medicine (MindMed)
In other news, insider Dan Karlin sold 6,643 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 transaction of $49,357.49. Following the completion of the transaction, the insider now directly owns 338,013 shares of the company's stock, valued at approximately $2,511,436.59. This represents a 1.93 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Robert Barrow sold 19,106 shares of the firm'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 completion of the sale, the chief executive officer now directly owns 526,666 shares in the company, valued at $3,913,128.38. The trade was a 3.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 28,022 shares of company stock worth $208,203. 2.26% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Mind Medicine (MindMed)
Hedge funds have recently made changes to their positions in the business. Barclays PLC increased its position in Mind Medicine (MindMed) by 203.6% during the 3rd quarter. Barclays PLC now owns 136,098 shares of the company's stock valued at $775,000 after purchasing an additional 91,271 shares during the period. Wellington Management Group LLP increased its position in shares of Mind Medicine (MindMed) by 142.6% during the third quarter. Wellington Management Group LLP now owns 185,722 shares of the company's stock valued at $1,057,000 after buying an additional 109,152 shares during the period. Geode Capital Management LLC raised 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 buying an additional 162,933 shares in the last quarter. SG Americas Securities LLC lifted its holdings in Mind Medicine (MindMed) by 48.8% in the fourth quarter. SG Americas Securities LLC now owns 24,406 shares of the company's stock worth $170,000 after buying an additional 8,004 shares during the period. Finally, State Street Corp boosted its position in Mind Medicine (MindMed) by 0.5% during the 3rd 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. 27.91% of the stock is owned by hedge funds and other 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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