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Mind Medicine (MindMed) Inc. (NASDAQ:MNMD - Get Free Report) CAO Carrie Liao sold 2,352 shares of the business's stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $5.98, for a total transaction of $14,064.96. Following the transaction, the chief accounting officer now owns 99,543 shares of the company's stock, valued at approximately $595,267.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Mind Medicine (MindMed) Stock Performance
Shares of MNMD opened at $5.96 on Thursday. The company has a market cap of $428.36 million, a PE ratio of -2.03 and a beta of 2.53. The firm has a 50-day moving average of $6.90 and a 200-day moving average of $8.02. Mind Medicine has a one year low of $2.41 and a one year high of $12.22. The company has a debt-to-equity ratio of 0.12, a current ratio of 5.92 and a quick ratio of 5.92.
Mind Medicine (MindMed) (NASDAQ:MNMD - Get Free Report) last posted its quarterly earnings results on Tuesday, August 13th. The company reported ($0.48) EPS for the quarter, missing analysts' consensus estimates of ($0.30) by ($0.18). As a group, equities analysts forecast that Mind Medicine will post -1.27 earnings per share for the current year.
Institutional Investors Weigh In On Mind Medicine (MindMed)
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A number of large investors have recently added to or reduced their stakes in the business. Cubist Systematic Strategies LLC grew its position in shares of Mind Medicine (MindMed) by 24.1% in the second quarter. Cubist Systematic Strategies LLC now owns 35,508 shares of the company's stock valued at $256,000 after purchasing an additional 6,890 shares during the last quarter. The Manufacturers Life Insurance Company acquired a new position in Mind Medicine (MindMed) in the 2nd quarter valued at $197,000. Marshall Wace LLP increased its position in Mind Medicine (MindMed) by 8.1% during the 2nd quarter. Marshall Wace LLP now owns 2,160,203 shares of the company's stock worth $15,575,000 after buying an additional 161,659 shares during the period. Tri Locum Partners LP lifted its holdings in shares of Mind Medicine (MindMed) by 0.6% during the second quarter. Tri Locum Partners LP now owns 382,055 shares of the company's stock worth $2,755,000 after buying an additional 2,459 shares in the last quarter. Finally, Bridgewealth Advisory Group LLC bought a new stake in shares of Mind Medicine (MindMed) in the second quarter valued at about $72,000. Institutional investors own 27.91% of the company's stock.
Analyst Upgrades and Downgrades
Several research firms have weighed in on MNMD. Roth Capital upgraded Mind Medicine (MindMed) to a "strong-buy" rating in a report on Wednesday, July 24th. Royal Bank of Canada reiterated an "outperform" rating and set a $22.00 target price on shares of Mind Medicine (MindMed) in a report on Wednesday, June 5th. Roth Mkm began coverage on Mind Medicine (MindMed) in a report on Wednesday, July 24th. They issued a "buy" rating and a $36.00 price target on the stock. Cantor Fitzgerald reissued an "overweight" rating on shares of Mind Medicine (MindMed) in a research report on Friday, June 21st. Finally, Baird R W raised shares of Mind Medicine (MindMed) to a "strong-buy" rating in a research report on Wednesday, May 29th. Ten research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $25.38.
Get Our Latest Research Report on MNMD
Mind Medicine (MindMed) Company Profile
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Get Free Report)
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.
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