Mind Medicine (MindMed) Inc. (NASDAQ:MNMD - Get Free Report) shares traded down 5.3% on Tuesday . The company traded as low as $9.33 and last traded at $9.37. 1,717,441 shares were traded during trading, a decline of 26% from the average session volume of 2,322,051 shares. The stock had previously closed at $9.89.
Wall Street Analyst Weigh In
Several research analysts recently commented on the company. Oppenheimer reiterated an "outperform" rating and issued a $20.00 price target on shares of Mind Medicine (MindMed) in a research note on Tuesday, December 17th. HC Wainwright reiterated a "buy" rating and set a $55.00 target price on shares of Mind Medicine (MindMed) in a research note on Friday, January 31st. Chardan Capital assumed coverage on shares of Mind Medicine (MindMed) in a research note on Friday, December 20th. They issued a "buy" rating and a $20.00 price target for the company. Finally, Evercore ISI initiated coverage on shares of Mind Medicine (MindMed) in a research note on Tuesday, January 28th. They set an "outperform" rating and a $23.00 price objective on the stock. Ten research analysts have rated the stock with a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $26.33.
View Our Latest Analysis on Mind Medicine (MindMed)
Mind Medicine (MindMed) Stock Down 6.7 %
The company has a quick ratio of 9.00, a current ratio of 9.00 and a debt-to-equity ratio of 0.09. The business has a 50-day simple moving average of $7.54 and a 200-day simple moving average of $6.92. The stock has a market cap of $559.51 million, a P/E ratio of -3.38 and a beta of 2.59.
Insiders Place Their Bets
In other news, CEO Robert Barrow sold 19,106 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 $141,957.58. Following the completion of the sale, the chief executive officer now directly owns 526,666 shares in the company, valued at approximately $3,913,128.38. This trade represents a 3.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 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 transaction of $49,357.49. Following the completion of the transaction, the insider now owns 338,013 shares of the company's stock, valued at $2,511,436.59. This trade represents a 1.93 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 28,022 shares of company stock worth $208,203. 2.26% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Mind Medicine (MindMed)
A number of hedge funds and other institutional investors have recently bought and sold shares of MNMD. SG Americas Securities LLC acquired a new stake in shares of Mind Medicine (MindMed) in the 3rd quarter valued at approximately $93,000. Wealth Enhancement Advisory Services LLC acquired a new stake in Mind Medicine (MindMed) in the third quarter worth $58,000. Stoneridge Investment Partners LLC bought a new position in shares of Mind Medicine (MindMed) during the third quarter worth $93,000. Oppenheimer & Co. Inc. acquired a new position in shares of Mind Medicine (MindMed) in the 3rd quarter valued at $298,000. Finally, Intech Investment Management LLC bought a new stake in shares of Mind Medicine (MindMed) in the 3rd quarter valued at $134,000. 27.91% of the stock is owned by institutional investors.
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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