Barclays PLC Purchases 91,271 Shares of Mind Medicine (MindMed) Inc. (NASDAQ:MNMD)

Barclays PLC raised its position in shares of Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) by 203.6% during the third quarter, HoldingsChannel.com reports. The fund owned 136,098 shares of the company’s stock after buying an additional 91,271 shares during the quarter. Barclays PLC’s holdings in Mind Medicine (MindMed) were worth $775,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Bridgewealth Advisory Group LLC bought a new stake in Mind Medicine (MindMed) during the second quarter valued at $72,000. Wealth Enhancement Advisory Services LLC bought a new stake in Mind Medicine (MindMed) during the third quarter valued at $58,000. Wealth Alliance bought a new stake in Mind Medicine (MindMed) during the second quarter valued at $79,000. Arizona State Retirement System bought a new stake in Mind Medicine (MindMed) during the second quarter valued at $114,000. Finally, Stoneridge Investment Partners LLC bought a new stake in Mind Medicine (MindMed) during the third quarter valued at $93,000. Institutional investors own 27.91% of the company’s stock.

Mind Medicine (MindMed) Trading Up 5.8 %

MNMD opened at $6.76 on Thursday. The company has a debt-to-equity ratio of 0.09, a current ratio of 9.00 and a quick ratio of 9.00. Mind Medicine has a fifty-two week low of $3.49 and a fifty-two week high of $12.22. The firm has a market capitalization of $495.72 million, a PE ratio of -2.99 and a beta of 2.60. The company’s 50-day moving average is $7.44 and its 200 day moving average is $6.94.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on MNMD. HC Wainwright reissued a “buy” rating and set a $55.00 price objective on shares of Mind Medicine (MindMed) in a research report on Monday, November 11th. Oppenheimer reissued an “outperform” rating and set a $20.00 price objective on shares of Mind Medicine (MindMed) in a research report on Tuesday, December 17th. Leerink Partners began coverage on shares of Mind Medicine (MindMed) in a research report on Monday, October 14th. They set an “outperform” 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 research report on Friday, October 11th. Finally, Chardan Capital began coverage on shares of Mind Medicine (MindMed) in a research report on Friday, December 20th. They set a “buy” rating and a $20.00 price objective on the stock. Nine 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, Mind Medicine (MindMed) presently has a consensus rating of “Buy” and a consensus target price of $26.75.

Insider Buying and Selling

In related news, insider Dan Karlin sold 6,643 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 value of $49,357.49. Following the sale, the insider now owns 338,013 shares in the company, valued at $2,511,436.59. This represents a 1.93 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Robert Barrow sold 19,106 shares of the 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 completion of the sale, 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 position. The disclosure for this sale can be found here. Insiders have sold 28,022 shares of company stock worth $208,203 in the last quarter. Insiders own 2.26% of the company’s stock.

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.