Mind Medicine (MindMed) Inc. (NASDAQ:MNMD - Get Free Report) shares gapped up prior to trading on Tuesday . The stock had previously closed at $6.90, but opened at $7.33. Mind Medicine (MindMed) shares last traded at $6.95, with a volume of 308,146 shares changing hands.
Analyst Ratings Changes
A number of brokerages recently commented on MNMD. Leerink Partnrs upgraded shares of Mind Medicine (MindMed) to a "strong-buy" rating in a research note on Friday, October 11th. Chardan Capital initiated 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. 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. Oppenheimer restated an "outperform" rating and set a $20.00 target price on shares of Mind Medicine (MindMed) in a research report on Tuesday, December 17th. Finally, 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 target for the company. Ten research analysts have rated the stock with a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $26.33.
Check Out Our Latest Report on Mind Medicine (MindMed)
Mind Medicine (MindMed) Stock Performance
The company has a 50-day simple moving average of $7.26 and a 200-day simple moving average of $6.92. The company has a debt-to-equity ratio of 0.09, a quick ratio of 9.00 and a current ratio of 9.00.
Mind Medicine (MindMed) (NASDAQ:MNMD - Get Free Report) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.27) earnings per share for the quarter, topping analysts' consensus estimates of ($0.29) by $0.02. During the same quarter last year, the firm earned ($0.53) EPS. As a group, equities research analysts forecast that Mind Medicine will post -1.35 EPS for the current year.
Insider Transactions at Mind Medicine (MindMed)
In other Mind Medicine (MindMed) news, CEO Robert Barrow sold 19,106 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 transaction of $141,957.58. Following the sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Dan Karlin sold 6,643 shares of the firm's 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 transaction, 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 position. The disclosure for this sale can be found here. Insiders have sold 28,022 shares of company stock valued at $208,203 in the last quarter. 2.26% of the stock is currently owned by corporate insiders.
Institutional Trading of Mind Medicine (MindMed)
A number of large investors have recently made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC purchased a new position in Mind Medicine (MindMed) in the 3rd quarter valued at about $58,000. Sanctuary Advisors LLC purchased a new position in shares of Mind Medicine (MindMed) during the third quarter valued at approximately $91,000. Foundations Investment Advisors LLC acquired a new stake in Mind Medicine (MindMed) during the fourth quarter worth approximately $91,000. Stoneridge Investment Partners LLC purchased a new stake in Mind Medicine (MindMed) in the 3rd quarter worth approximately $93,000. Finally, SG Americas Securities LLC acquired a new position in Mind Medicine (MindMed) in the 3rd quarter valued at $93,000. Institutional investors and hedge funds own 27.91% of the company's stock.
Mind Medicine (MindMed) Company Profile
(
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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