China Universal Asset Management Co. Ltd. Buys Shares of 15,549 Mind Medicine (MindMed) Inc. (NASDAQ:MNMD)

China Universal Asset Management Co. Ltd. bought a new stake in shares of Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) in the fourth quarter, Holdings Channel reports. The fund bought 15,549 shares of the company’s stock, valued at approximately $108,000.

A number of other hedge funds have also made changes to their positions in the company. Foundations Investment Advisors LLC acquired a new position in shares of Mind Medicine (MindMed) during the fourth quarter valued at approximately $91,000. SG Americas Securities LLC raised its holdings in shares of Mind Medicine (MindMed) by 48.8% during the fourth quarter. SG Americas Securities LLC now owns 24,406 shares of the company’s stock valued at $170,000 after acquiring an additional 8,004 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Mind Medicine (MindMed) by 21.9% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 12,430 shares of the company’s stock valued at $87,000 after acquiring an additional 2,230 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Mind Medicine (MindMed) by 8.2% in the third quarter. JPMorgan Chase & Co. now owns 36,995 shares of the company’s stock valued at $211,000 after purchasing an additional 2,797 shares during the last quarter. Finally, Sanctuary Advisors LLC acquired a new stake in shares of Mind Medicine (MindMed) in the third quarter valued at approximately $91,000. Institutional investors and hedge funds own 27.91% of the company’s stock.

Wall Street Analysts Forecast Growth

MNMD has been the subject of several recent research reports. HC Wainwright reaffirmed a “buy” rating and issued a $55.00 price target on shares of Mind Medicine (MindMed) in a report on Friday. Oppenheimer reaffirmed an “outperform” rating and issued a $20.00 price target on shares of Mind Medicine (MindMed) in a report on Tuesday, December 17th. Leerink Partners initiated coverage on Mind Medicine (MindMed) in a report on Monday, October 14th. They issued an “outperform” rating and a $20.00 price target for the company. Chardan Capital initiated coverage on Mind Medicine (MindMed) in a report on Friday, December 20th. They issued a “buy” rating and a $20.00 price target for the company. Finally, Evercore ISI assumed coverage on Mind Medicine (MindMed) in a report on Tuesday, January 28th. They issued an “outperform” rating and a $23.00 price target for the company. Ten research analysts have rated the stock with a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $26.33.

Mind Medicine (MindMed) Trading Up 8.5 %

MNMD opened at $7.37 on Tuesday. Mind Medicine has a 52 week low of $3.85 and a 52 week high of $12.22. The business has a fifty day simple moving average of $7.26 and a 200-day simple moving average of $6.90. The firm has a market cap of $540.44 million, a P/E ratio of -3.26 and a beta of 2.59. The company has a quick ratio of 9.00, a current ratio of 9.00 and a debt-to-equity ratio of 0.09.

Mind Medicine (MindMed) (NASDAQ:MNMD) last released its quarterly earnings results on Thursday, November 7th. The company reported ($0.27) EPS for the quarter, topping the consensus estimate of ($0.29) by $0.02. During the same period in the previous year, the business earned ($0.53) EPS. On average, equities analysts expect that Mind Medicine will post -1.35 earnings per share for the current year.

Insider Transactions at Mind Medicine (MindMed)

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

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.