Robert Barrow Sells 15,659 Shares of Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) Stock

Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) CEO Robert Barrow sold 15,659 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 value of $113,057.98. Following the transaction, the chief executive officer now directly owns 564,543 shares in the company, valued at approximately $4,076,000.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Mind Medicine (MindMed) Price Performance

Mind Medicine (MindMed) stock opened at $7.27 on Thursday. The company’s 50 day simple moving average is $8.36 and its 200-day simple moving average is $6.82. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.91 and a quick ratio of 3.91. Mind Medicine has a 1 year low of $2.41 and a 1 year high of $12.22.

Mind Medicine (MindMed) (NASDAQ:MNMD) last announced its earnings results on Wednesday, May 8th. The company reported ($0.60) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.66) by $0.06. Equities research analysts forecast that Mind Medicine will post -1.36 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on MNMD. Robert W. Baird began coverage on shares of Mind Medicine (MindMed) in a research report on Tuesday, May 28th. They set an “outperform” rating and a $27.00 price target on the stock. HC Wainwright reiterated a “buy” rating and issued a $35.00 target price on shares of Mind Medicine (MindMed) in a report on Friday, May 24th. Baird R W raised shares of Mind Medicine (MindMed) to a “strong-buy” rating in a research note on Wednesday, May 29th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $22.00 price target on shares of Mind Medicine (MindMed) in a research report on Wednesday, June 5th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Mind Medicine (MindMed) in a research report on Friday, June 21st. Eight research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $20.00.

Institutional Investors Weigh In On Mind Medicine (MindMed)

Institutional investors and hedge funds have recently modified their holdings of the company. SageView Advisory Group LLC purchased a new position in Mind Medicine (MindMed) during the 1st quarter valued at about $25,000. Bailard Inc. acquired a new stake in shares of Mind Medicine (MindMed) during the fourth quarter worth about $63,000. Mitchell Mcleod Pugh & Williams Inc. purchased a new position in shares of Mind Medicine (MindMed) in the fourth quarter valued at approximately $73,000. Jump Financial LLC grew its holdings in shares of Mind Medicine (MindMed) by 8.3% in the fourth quarter. Jump Financial LLC now owns 36,826 shares of the company’s stock valued at $135,000 after purchasing an additional 2,826 shares in the last quarter. Finally, Sequoia Financial Advisors LLC purchased a new stake in Mind Medicine (MindMed) during the 1st quarter worth approximately $168,000. Hedge funds and other institutional investors own 27.91% of the company’s stock.

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.