Zurcher Kantonalbank Zurich Cantonalbank Acquires 4,079 Shares of Mind Medicine (MindMed) Inc. (NASDAQ:MNMD)

Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) by 22.5% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 22,226 shares of the company’s stock after buying an additional 4,079 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Mind Medicine (MindMed) were worth $126,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of MNMD. Tri Locum Partners LP boosted its holdings in Mind Medicine (MindMed) by 0.6% in the second quarter. Tri Locum Partners LP now owns 382,055 shares of the company’s stock worth $2,755,000 after acquiring an additional 2,459 shares in the last quarter. Cubist Systematic Strategies LLC boosted its stake in Mind Medicine (MindMed) by 24.1% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 35,508 shares of the company’s stock worth $256,000 after purchasing an additional 6,890 shares in the last quarter. Bridgewealth Advisory Group LLC purchased a new stake in Mind Medicine (MindMed) during the 2nd quarter worth approximately $72,000. Wealth Enhancement Advisory Services LLC acquired a new position in Mind Medicine (MindMed) during the 3rd quarter valued at approximately $58,000. Finally, Wealth Alliance purchased a new position in shares of Mind Medicine (MindMed) in the second quarter worth $79,000. Hedge funds and other institutional investors own 27.91% of the company’s stock.

Insider Buying and Selling at Mind Medicine (MindMed)

In other Mind Medicine (MindMed) news, insider Dan Karlin sold 6,871 shares of the firm’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $5.98, for a total value of $41,088.58. Following the sale, the insider now directly 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Robert Barrow sold 19,771 shares of the company’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $5.98, for a total value of $118,230.58. Following the transaction, the chief executive officer now directly owns 545,772 shares of the company’s stock, valued at approximately $3,263,716.56. The trade was a 3.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 28,994 shares of company stock valued at $173,384. Corporate insiders own 2.26% of the company’s stock.

Mind Medicine (MindMed) Trading Down 2.2 %

Shares of NASDAQ:MNMD opened at $7.28 on Tuesday. The business has a 50 day moving average of $6.82 and a two-hundred day moving average of $7.05. Mind Medicine has a 12-month low of $2.92 and a 12-month high of $12.22. The company has a market capitalization of $533.84 million, a PE ratio of -3.22 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.

Wall Street Analysts Forecast Growth

MNMD has been the topic of several research reports. Leerink Partners initiated coverage on Mind Medicine (MindMed) in a research report on Monday, October 14th. They issued an “outperform” rating and a $20.00 target price on the stock. Leerink Partnrs raised Mind Medicine (MindMed) to a “strong-buy” rating in a report on Friday, October 11th. HC Wainwright reaffirmed a “buy” rating and set a $55.00 target price on shares of Mind Medicine (MindMed) in a report on Monday, November 11th. Finally, Canaccord Genuity Group dropped their target price on Mind Medicine (MindMed) from $16.00 to $14.00 and set a “buy” rating on the stock in a research report on Monday, September 16th. Eight equities research analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $27.71.

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.