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

Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) insider Dan Karlin sold 6,925 shares of Mind Medicine (MindMed) stock in a transaction on Tuesday, June 25th. The stock was sold at an average price of $7.22, for a total value of $49,998.50. Following the sale, the insider now directly owns 351,527 shares of the company’s stock, valued at approximately $2,538,024.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Mind Medicine (MindMed) Price Performance

Shares of MNMD opened at $7.27 on Thursday. The firm has a 50 day simple moving average of $8.36 and a two-hundred day simple moving average of $6.82. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.91 and a current ratio of 3.91. Mind Medicine has a one year low of $2.41 and a one year high of $12.22.

Mind Medicine (MindMed) (NASDAQ:MNMD) last posted its quarterly earnings results on Wednesday, May 8th. The company reported ($0.60) EPS for the quarter, topping analysts’ consensus estimates of ($0.66) by $0.06. On average, equities research analysts anticipate that Mind Medicine will post -1.36 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. SageView Advisory Group LLC bought a new stake in shares of Mind Medicine (MindMed) during the 1st quarter valued at approximately $25,000. Bailard Inc. bought a new stake in shares of Mind Medicine (MindMed) during the fourth quarter worth $63,000. Sequoia Financial Advisors LLC bought a new stake in shares of Mind Medicine (MindMed) during the first quarter worth $168,000. Mitchell Mcleod Pugh & Williams Inc. acquired a new position in shares of Mind Medicine (MindMed) during the fourth quarter worth $73,000. Finally, Virtu Financial LLC bought a new position in shares of Mind Medicine (MindMed) in the 1st quarter valued at $239,000. Institutional investors and hedge funds own 27.91% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on MNMD shares. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Mind Medicine (MindMed) in a research report on Friday, June 21st. Baird R W raised shares of Mind Medicine (MindMed) to a “strong-buy” rating in a report on Wednesday, May 29th. Oppenheimer reiterated an “outperform” rating and issued a $20.00 price target (down from $29.00) on shares of Mind Medicine (MindMed) in a research note on Monday, May 13th. HC Wainwright restated a “buy” rating and set a $35.00 price objective on shares of Mind Medicine (MindMed) in a research note on Friday, May 24th. Finally, SVB Leerink initiated coverage on Mind Medicine (MindMed) in a report on Monday, April 15th. They issued an “outperform” rating and a $20.00 price objective for the company. Eight equities research 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.com, Mind Medicine (MindMed) presently has an average rating of “Buy” and an average price target of $20.00.

Mind Medicine (MindMed) Company Profile

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.