Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) CEO Robert Barrow Sells 19,771 Shares of Stock

Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) CEO Robert Barrow sold 19,771 shares of the firm’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $5.98, for a total value of $118,230.58. Following the transaction, the chief executive officer now owns 545,772 shares in the company, valued at $3,263,716.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Robert Barrow also recently made the following trade(s):

• On Monday, August 19th, Robert Barrow bought 500 shares of Mind Medicine (MindMed) stock. The shares were bought at an average price of $6.31 per share, with a total value of $3,155.00.

Mind Medicine (MindMed) Stock Down 1.7 %

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

Mind Medicine (MindMed) (NASDAQ:MNMD) last issued its earnings results on Tuesday, August 13th. The company reported ($0.48) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.18). As a group, analysts expect that Mind Medicine will post -1.27 EPS for the current fiscal year.

Wall Street Analyst Weigh In

MNMD has been the topic of several recent research reports. Roth Capital upgraded shares of Mind Medicine (MindMed) to a “strong-buy” rating in a research report on Wednesday, July 24th. Canaccord Genuity Group cut their price target on Mind Medicine (MindMed) from $16.00 to $14.00 and set a “buy” rating on the stock in a research note on Monday, September 16th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $22.00 target price on shares of Mind Medicine (MindMed) in a report on Wednesday, June 5th. Baird R W raised Mind Medicine (MindMed) to a “strong-buy” rating in a research note on Wednesday, May 29th. Finally, Robert W. Baird initiated coverage on Mind Medicine (MindMed) in a report on Tuesday, May 28th. They set an “outperform” rating and a $27.00 target price on the stock. Ten investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $25.38.

Institutional Investors Weigh In On Mind Medicine (MindMed)

Hedge funds have recently bought and sold shares of the stock. Tri Locum Partners LP grew its stake in shares of Mind Medicine (MindMed) by 0.6% during the second quarter. Tri Locum Partners LP now owns 382,055 shares of the company’s stock worth $2,755,000 after buying an additional 2,459 shares during the last quarter. SageView Advisory Group LLC bought a new stake in Mind Medicine (MindMed) in the first quarter worth approximately $25,000. Jump Financial LLC lifted its position in shares of Mind Medicine (MindMed) by 8.3% during the 4th quarter. Jump Financial LLC now owns 36,826 shares of the company’s stock valued at $135,000 after acquiring an additional 2,826 shares during the period. Cubist Systematic Strategies LLC raised its stake in Mind Medicine (MindMed) by 24.1% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 35,508 shares of the company’s stock worth $256,000 after buying an additional 6,890 shares during the period. Finally, Bridgewealth Advisory Group LLC acquired a new position in shares of Mind Medicine (MindMed) during the second quarter worth approximately $72,000. 27.91% of the stock is currently owned by institutional investors and hedge funds.

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.