UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 7,726 Shares of Mind Medicine (MindMed) Inc. (NASDAQ:MNMD)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its holdings in Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) by 9.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 70,353 shares of the company’s stock after selling 7,726 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Mind Medicine (MindMed) were worth $400,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in MNMD. Bank of New York Mellon Corp boosted its position in shares of Mind Medicine (MindMed) by 472.7% in the second quarter. Bank of New York Mellon Corp now owns 246,208 shares of the company’s stock valued at $1,775,000 after acquiring an additional 203,216 shares during the period. Marshall Wace LLP boosted its stake in shares of Mind Medicine (MindMed) by 8.1% during the second quarter. Marshall Wace LLP now owns 2,160,203 shares of the company’s stock valued at $15,575,000 after purchasing an additional 161,659 shares during the period. Rhumbline Advisers bought a new position in shares of Mind Medicine (MindMed) during the second quarter valued at about $679,000. Oppenheimer & Co. Inc. bought a new stake in shares of Mind Medicine (MindMed) in the 3rd quarter worth approximately $298,000. Finally, Charles Schwab Investment Management Inc. increased its position in Mind Medicine (MindMed) by 8.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 602,544 shares of the company’s stock valued at $3,428,000 after purchasing an additional 46,187 shares during the period. 27.91% of the stock is owned by hedge funds and other institutional investors.

Mind Medicine (MindMed) Stock Performance

Mind Medicine (MindMed) stock opened at $7.16 on Friday. The company has a 50 day moving average price of $7.15 and a 200-day moving average price of $6.99. The company has a market capitalization of $525.06 million, a PE ratio of -3.17 and a beta of 2.58. Mind Medicine has a fifty-two week low of $3.37 and a fifty-two week high of $12.22. The company has a debt-to-equity ratio of 0.09, a quick ratio of 9.00 and a current ratio of 9.00.

Insider Activity at Mind Medicine (MindMed)

In related news, insider Dan Karlin sold 6,871 shares of the firm’s stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $5.98, for a total transaction of $41,088.58. Following the sale, the insider now owns 344,656 shares of the company’s stock, valued at $2,061,042.88. This trade represents a 1.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Robert Barrow sold 19,771 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 transaction of $118,230.58. Following the completion of the transaction, the chief executive officer now owns 545,772 shares of the company’s stock, valued at $3,263,716.56. This represents a 3.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 28,994 shares of company stock worth $173,384 over the last three months. 2.26% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts recently commented on MNMD shares. HC Wainwright reissued a “buy” rating and set a $55.00 price objective on shares of Mind Medicine (MindMed) in a research note on Monday, November 11th. Canaccord Genuity Group cut their price target on Mind Medicine (MindMed) from $16.00 to $14.00 and set a “buy” rating for the company in a research note on Monday, September 16th. Oppenheimer reissued an “outperform” rating and set a $20.00 price target on shares of Mind Medicine (MindMed) in a report on Tuesday. Chardan Capital initiated coverage on shares of Mind Medicine (MindMed) in a report on Friday. They set a “buy” rating and a $20.00 price target on the stock. Finally, Leerink Partners initiated 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 on the stock. Nine investment analysts have rated the stock with a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $26.75.

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.