Sanctuary Advisors LLC Acquires Shares of 16,002 Mind Medicine (MindMed) Inc. (NASDAQ:MNMD)

Sanctuary Advisors LLC acquired a new stake in Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 16,002 shares of the company’s stock, valued at approximately $91,000.

Other institutional investors have also recently made changes to their positions in the company. Bank of New York Mellon Corp boosted its holdings in 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 purchasing an additional 203,216 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Mind Medicine (MindMed) by 10.8% in the 3rd quarter. Geode Capital Management LLC now owns 1,677,702 shares of the company’s stock valued at $9,548,000 after buying an additional 162,933 shares during the period. Marshall Wace LLP boosted its stake in shares of Mind Medicine (MindMed) by 8.1% in the second quarter. Marshall Wace LLP now owns 2,160,203 shares of the company’s stock worth $15,575,000 after buying an additional 161,659 shares during the last quarter. Wellington Management Group LLP grew its holdings in Mind Medicine (MindMed) by 142.6% during the third quarter. Wellington Management Group LLP now owns 185,722 shares of the company’s stock worth $1,057,000 after acquiring an additional 109,152 shares during the period. Finally, Rhumbline Advisers purchased a new position in Mind Medicine (MindMed) during the second quarter valued at approximately $679,000. Hedge funds and other institutional investors own 27.91% of the company’s stock.

Insider Transactions at Mind Medicine (MindMed)

In related news, insider Dan Karlin sold 6,643 shares of the business’s stock in a transaction dated Thursday, December 26th. The shares were sold at an average price of $7.43, for a total transaction of $49,357.49. Following the transaction, the insider now directly owns 338,013 shares in the company, valued at approximately $2,511,436.59. The trade was a 1.93 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Robert Barrow sold 19,106 shares of the company’s stock in a transaction dated Thursday, December 26th. The shares were sold at an average price of $7.43, for a total transaction of $141,957.58. Following the sale, the chief executive officer now directly owns 526,666 shares of the company’s stock, valued at approximately $3,913,128.38. This represents a 3.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 28,022 shares of company stock valued at $208,203 over the last ninety days. Insiders own 2.26% of the company’s stock.

Wall Street Analyst Weigh In

MNMD has been the topic of several recent research reports. Chardan Capital began coverage on Mind Medicine (MindMed) in a research report on Friday, December 20th. They issued a “buy” rating and a $20.00 price objective on the stock. Leerink Partnrs raised shares of Mind Medicine (MindMed) to a “strong-buy” rating in a report on Friday, October 11th. Oppenheimer reaffirmed an “outperform” rating and issued a $20.00 price objective on shares of Mind Medicine (MindMed) in a report on Tuesday, December 17th. 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 on the stock. Finally, HC Wainwright restated a “buy” rating and issued a $55.00 price target on shares of Mind Medicine (MindMed) in a research note on Monday, November 11th. Nine equities research analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $26.75.

Mind Medicine (MindMed) Trading Down 2.0 %

MNMD stock opened at $6.70 on Tuesday. The business’s 50-day moving average is $7.25 and its 200 day moving average is $6.97. Mind Medicine has a 12-month low of $3.49 and a 12-month high of $12.22. The stock has a market cap of $491.32 million, a price-to-earnings ratio of -2.96 and a beta of 2.58. The company has a current ratio of 9.00, a quick ratio of 9.00 and a debt-to-equity ratio of 0.09.

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.