Bank of New York Mellon Corp Boosts Stock Position in Mind Medicine (MindMed) Inc. (NASDAQ:MNMD)

Bank of New York Mellon Corp boosted its holdings in Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) by 5.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 200,121 shares of the company’s stock after buying an additional 10,338 shares during the quarter. Bank of New York Mellon Corp’s holdings in Mind Medicine (MindMed) were worth $1,393,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC increased its holdings in Mind Medicine (MindMed) by 21.9% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 12,430 shares of the company’s stock valued at $87,000 after buying an additional 2,230 shares during the last quarter. Foundations Investment Advisors LLC purchased a new position in Mind Medicine (MindMed) in the fourth quarter valued at $91,000. China Universal Asset Management Co. Ltd. purchased a new position in shares of Mind Medicine (MindMed) during the fourth quarter worth about $108,000. Sanctuary Advisors LLC purchased a new position in shares of Mind Medicine (MindMed) during the third quarter worth about $91,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Mind Medicine (MindMed) by 22.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,226 shares of the company’s stock worth $126,000 after purchasing an additional 4,079 shares during the last quarter. Hedge funds and other institutional investors own 27.91% of the company’s stock.

Insider Activity at Mind Medicine (MindMed)

In other news, CEO Robert Barrow sold 19,106 shares of Mind Medicine (MindMed) stock in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $7.43, for a total transaction of $141,957.58. Following the completion of the sale, the chief executive officer now directly owns 526,666 shares in the company, valued at approximately $3,913,128.38. This trade represents a 3.50 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Dan Karlin sold 6,643 shares of Mind Medicine (MindMed) stock in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $7.43, for a total transaction of $49,357.49. Following the sale, the insider now owns 338,013 shares of the company’s stock, valued at approximately $2,511,436.59. The trade was a 1.93 % 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 90 days. Company insiders own 2.26% of the company’s stock.

Mind Medicine (MindMed) Price Performance

Shares of MNMD opened at $6.72 on Monday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 9.00 and a current ratio of 9.00. The company has a market capitalization of $506.47 million, a price-to-earnings ratio of -2.97 and a beta of 2.57. Mind Medicine has a fifty-two week low of $5.03 and a fifty-two week high of $12.22. The firm has a 50-day simple moving average of $7.27 and a 200-day simple moving average of $6.95.

Mind Medicine (MindMed) (NASDAQ:MNMD) last announced its quarterly earnings data on Thursday, March 6th. The company reported ($0.41) EPS for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.08). During the same quarter in the previous year, the business posted ($0.59) EPS. On average, equities research analysts anticipate that Mind Medicine will post -1.35 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have issued reports on MNMD. HC Wainwright reaffirmed a “buy” rating and set a $55.00 price objective on shares of Mind Medicine (MindMed) in a report on Friday, March 7th. Evercore ISI began coverage on Mind Medicine (MindMed) in a report on Tuesday, January 28th. They set an “outperform” rating and a $23.00 price objective on the stock. Oppenheimer reaffirmed an “outperform” rating and set a $20.00 price objective on shares of Mind Medicine (MindMed) in a report on Tuesday, December 17th. Robert W. Baird dropped their price objective on Mind Medicine (MindMed) from $27.00 to $16.00 and set an “outperform” rating on the stock in a report on Friday, March 7th. Finally, Chardan Capital initiated coverage on Mind Medicine (MindMed) in a report on Friday, December 20th. They set a “buy” rating and a $20.00 price objective on the stock. Ten equities research analysts have rated the stock with a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, Mind Medicine (MindMed) presently has a consensus rating of “Buy” and a consensus target price of $25.11.

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.