Dan Karlin Sells 6,925 Shares of Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) Stock

Mind Medicine (MindMed) Inc. (NASDAQ:MNMD - Get Free Report) insider Dan Karlin sold 6,925 shares of the business's stock in a transaction on Tuesday, June 25th. The stock was sold at an average price of $7.22, for a total transaction of $49,998.50. Following the completion of the transaction, the insider now owns 351,527 shares in the company, valued at approximately $2,538,024.94. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Mind Medicine (MindMed) Stock Performance

MNMD stock traded down $0.31 during trading on Tuesday, hitting $7.07. 1,206,330 shares of the company's stock traded hands, compared to its average volume of 1,721,474. The stock has a market capitalization of $496.81 million, a price-to-earnings ratio of -2.40 and a beta of 2.65. Mind Medicine has a 52 week low of $2.41 and a 52 week high of $12.22. The stock has a fifty day moving average price of $8.46 and a two-hundred day moving average price of $6.78. The company has a quick ratio of 3.91, a current ratio of 3.91 and a debt-to-equity ratio of 0.07.

Mind Medicine (MindMed) (NASDAQ:MNMD - Get Free Report) last announced its quarterly earnings data on Wednesday, May 8th. The company reported ($0.60) earnings per share for the quarter, beating analysts' consensus estimates of ($0.66) by $0.06. As a group, equities analysts anticipate that Mind Medicine will post -1.36 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Leerink Partnrs reiterated an "outperform" rating on shares of Mind Medicine (MindMed) in a research note on Monday, April 15th. SVB Leerink initiated coverage on Mind Medicine (MindMed) in a research report on Monday, April 15th. They issued an "outperform" rating and a $20.00 target price on the stock. Oppenheimer reiterated an "outperform" rating and set a $20.00 target price (down from $29.00) on shares of Mind Medicine (MindMed) in a research note on Monday, May 13th. Baird R W upgraded shares of Mind Medicine (MindMed) to a "strong-buy" rating in a research note on Wednesday, May 29th. Finally, HC Wainwright reiterated a "buy" rating and set a $35.00 price objective on shares of Mind Medicine (MindMed) in a research note on Friday, May 24th. Eight analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $20.00.

Institutional Trading of Mind Medicine (MindMed)

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. SageView Advisory Group LLC bought a new position in Mind Medicine (MindMed) during the 1st quarter worth $25,000. Bailard Inc. acquired a new position in shares of Mind Medicine (MindMed) during the fourth quarter valued at $63,000. Sequoia Financial Advisors LLC bought a new position in shares of Mind Medicine (MindMed) during the first quarter worth about $168,000. Mitchell Mcleod Pugh & Williams Inc. acquired a new stake in shares of Mind Medicine (MindMed) in the 4th quarter worth about $73,000. Finally, Virtu Financial LLC bought a new stake in Mind Medicine (MindMed) in the 1st quarter valued at about $239,000. 27.91% of the stock is currently owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.