Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) Insider Dan Karlin Sells 6,578 Shares

Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) insider Dan Karlin sold 6,578 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $9.50, for a total value of $62,491.00. Following the sale, the insider now directly owns 358,452 shares in the company, valued at approximately $3,405,294. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Mind Medicine (MindMed) Trading Down 5.5 %

Shares of Mind Medicine (MindMed) stock opened at $9.86 on Wednesday. The business has a 50 day moving average price of $5.88 and a 200 day moving average price of $4.19. The company has a debt-to-equity ratio of 0.18, a current ratio of 3.22 and a quick ratio of 3.22. The company has a market capitalization of $407.51 million, a P/E ratio of -4.02 and a beta of 2.65. Mind Medicine has a 1 year low of $2.41 and a 1 year high of $11.10.

Mind Medicine (MindMed) (NASDAQ:MNMD) last issued its quarterly earnings results on Wednesday, February 28th. The company reported ($0.59) earnings per share for the quarter, missing the consensus estimate of ($0.48) by ($0.11). Sell-side analysts anticipate that Mind Medicine will post -1.7 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Goldman Sachs Group Inc. raised its holdings in Mind Medicine (MindMed) by 316.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 111,931 shares of the company’s stock valued at $410,000 after acquiring an additional 85,025 shares during the last quarter. Scotia Capital Inc. acquired a new position in Mind Medicine (MindMed) in the 4th quarter valued at $441,000. Jump Financial LLC grew its stake in shares of Mind Medicine (MindMed) by 8.3% during the 4th quarter. Jump Financial LLC now owns 36,826 shares of the company’s stock valued at $135,000 after buying an additional 2,826 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Mind Medicine (MindMed) by 1.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 191,874 shares of the company’s stock valued at $702,000 after buying an additional 3,338 shares during the period. Finally, Mitchell Mcleod Pugh & Williams Inc. purchased a new stake in shares of Mind Medicine (MindMed) during the 4th quarter valued at $73,000. 27.91% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently commented on MNMD. Royal Bank of Canada boosted their price target on Mind Medicine (MindMed) from $14.00 to $15.00 and gave the stock an “outperform” rating in a research note on Thursday, February 29th. HC Wainwright restated a “buy” rating and set a $75.00 price objective on shares of Mind Medicine (MindMed) in a research report on Thursday, March 14th. Finally, Canaccord Genuity Group assumed coverage on Mind Medicine (MindMed) in a research report on Tuesday, December 5th. They set a “buy” rating and a $9.00 price objective for the company. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $24.83.

About Mind Medicine (MindMed)

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 for the treatment of core symptoms of autism spectrum disorder.