Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) Position Increased by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. grew its holdings in shares of Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) by 8.3% during the third quarter, Holdings Channel reports. The firm owned 602,544 shares of the company’s stock after acquiring an additional 46,187 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Mind Medicine (MindMed) were worth $3,428,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Wealth Enhancement Advisory Services LLC acquired a new stake in Mind Medicine (MindMed) during the third quarter worth about $58,000. Bridgewealth Advisory Group LLC bought a new position in shares of Mind Medicine (MindMed) during the second quarter valued at approximately $72,000. Wealth Alliance acquired a new stake in shares of Mind Medicine (MindMed) during the 2nd quarter worth approximately $79,000. SG Americas Securities LLC bought a new stake in shares of Mind Medicine (MindMed) in the 3rd quarter worth approximately $93,000. Finally, Stoneridge Investment Partners LLC acquired a new position in Mind Medicine (MindMed) during the 3rd quarter valued at approximately $93,000. 27.91% of the stock is currently owned by institutional investors.

Mind Medicine (MindMed) Stock Performance

Shares of MNMD opened at $7.16 on Friday. The firm has a market capitalization of $525.06 million, a PE ratio of -3.17 and a beta of 2.58. The company has a quick ratio of 9.00, a current ratio of 9.00 and a debt-to-equity ratio of 0.09. The firm has a 50-day moving average price of $6.95 and a 200 day moving average price of $7.03. Mind Medicine has a 52-week low of $2.97 and a 52-week high of $12.22.

Insider Transactions at Mind Medicine (MindMed)

In other news, CEO Robert Barrow sold 19,771 shares of Mind Medicine (MindMed) stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $5.98, for a total transaction of $118,230.58. Following the transaction, the chief executive officer now directly owns 545,772 shares in the company, valued at approximately $3,263,716.56. This trade represents a 3.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Dan Karlin sold 6,871 shares of the company’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $5.98, for a total value of $41,088.58. Following the completion of the sale, the insider now owns 344,656 shares of the company’s stock, valued at approximately $2,061,042.88. This trade represents a 1.95 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 28,994 shares of company stock valued at $173,384. Company insiders own 2.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on MNMD. Leerink Partnrs raised Mind Medicine (MindMed) to a “strong-buy” rating in a research report on Friday, October 11th. Canaccord Genuity Group dropped their price objective on shares of Mind Medicine (MindMed) from $16.00 to $14.00 and set a “buy” rating on the stock in a report on Monday, September 16th. Leerink Partners assumed coverage on shares of Mind Medicine (MindMed) in a research note on Monday, October 14th. They set an “outperform” rating and a $20.00 target price for the company. Finally, HC Wainwright restated a “buy” rating and issued a $55.00 target price on shares of Mind Medicine (MindMed) in a research report on Monday, November 11th. Eight equities research analysts have rated the stock with a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $27.71.

Mind Medicine (MindMed) 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.