Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) CAO Sells $14,064.96 in Stock

Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) CAO Carrie Liao sold 2,352 shares of the business’s stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $5.98, for a total value of $14,064.96. Following the sale, the chief accounting officer now owns 99,543 shares of the company’s stock, valued at approximately $595,267.14. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Mind Medicine (MindMed) Stock Down 1.7 %

Shares of Mind Medicine (MindMed) stock traded down $0.10 on Wednesday, hitting $5.96. 588,328 shares of the company’s stock traded hands, compared to its average volume of 1,506,363. Mind Medicine has a 52-week low of $2.41 and a 52-week high of $12.22. The company has a quick ratio of 5.92, a current ratio of 5.92 and a debt-to-equity ratio of 0.12. The stock has a market cap of $428.36 million, a P/E ratio of -2.06 and a beta of 2.53. The firm’s 50-day moving average is $6.94 and its 200 day moving average is $8.04.

Mind Medicine (MindMed) (NASDAQ:MNMD) last posted its quarterly earnings data on Tuesday, August 13th. The company reported ($0.48) EPS for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.18). Equities analysts anticipate that Mind Medicine will post -1.27 earnings per share for the current year.

Analysts Set New Price Targets

MNMD has been the subject of several recent research reports. Royal Bank of Canada reissued an “outperform” rating and issued a $22.00 price objective on shares of Mind Medicine (MindMed) in a research report on Wednesday, June 5th. Robert W. Baird assumed coverage on Mind Medicine (MindMed) in a research report on Tuesday, May 28th. They issued an “outperform” rating and a $27.00 price objective on the stock. Roth Capital upgraded Mind Medicine (MindMed) to a “strong-buy” rating in a research note on Wednesday, July 24th. Baird R W upgraded Mind Medicine (MindMed) to a “strong-buy” rating in a research note on Wednesday, May 29th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Mind Medicine (MindMed) in a research report on Friday, June 21st. Ten research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $25.38.

Institutional Trading of Mind Medicine (MindMed)

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of New York Mellon Corp grew its position in shares of Mind Medicine (MindMed) by 472.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 246,208 shares of the company’s stock worth $1,775,000 after acquiring an additional 203,216 shares in the last quarter. Tidal Investments LLC bought a new position in Mind Medicine (MindMed) during the first quarter worth $1,698,000. Jump Financial LLC lifted its stake in Mind Medicine (MindMed) by 8.3% during the fourth quarter. Jump Financial LLC now owns 36,826 shares of the company’s stock worth $135,000 after purchasing an additional 2,826 shares during the last quarter. Janus Henderson Group PLC acquired a new position in Mind Medicine (MindMed) in the first quarter worth $8,964,000. Finally, Rhumbline Advisers bought a new stake in Mind Medicine (MindMed) during the second quarter valued at $679,000. 27.91% of the stock is owned by institutional investors.

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.