Carrie Liao Sells 2,273 Shares of Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) Stock

Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) CAO Carrie Liao sold 2,273 shares of the business’s stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $7.43, for a total transaction of $16,888.39. Following the sale, the chief accounting officer now directly owns 97,270 shares of the company’s stock, valued at $722,716.10. This represents a 2.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Mind Medicine (MindMed) Trading Down 10.4 %

Shares of NASDAQ:MNMD opened at $6.84 on Friday. The company has a market capitalization of $501.59 million, a PE ratio of -3.03 and a beta of 2.58. Mind Medicine has a 12-month low of $3.49 and a 12-month high of $12.22. The business has a 50 day moving average of $7.25 and a two-hundred day moving average of $6.97. The company has a current ratio of 9.00, a quick ratio of 9.00 and a debt-to-equity ratio of 0.09.

Analyst Ratings Changes

MNMD has been the subject of several research reports. Chardan Capital initiated coverage on shares of Mind Medicine (MindMed) in a research report on Friday, December 20th. They issued a “buy” rating and a $20.00 price objective for the company. Leerink Partners started coverage on Mind Medicine (MindMed) in a report on Monday, October 14th. They issued an “outperform” rating and a $20.00 price target for the company. HC Wainwright reissued a “buy” rating and issued a $55.00 price objective on shares of Mind Medicine (MindMed) in a research note on Monday, November 11th. Leerink Partnrs raised Mind Medicine (MindMed) to a “strong-buy” rating in a research report on Friday, October 11th. Finally, Oppenheimer reissued an “outperform” rating and set a $20.00 price target on shares of Mind Medicine (MindMed) in a research report on Tuesday, December 17th. Nine analysts have rated the stock with a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, Mind Medicine (MindMed) has a consensus rating of “Buy” and a consensus price target of $26.75.

Institutional Trading of Mind Medicine (MindMed)

Hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its position in shares of Mind Medicine (MindMed) by 8.2% in the third quarter. JPMorgan Chase & Co. now owns 36,995 shares of the company’s stock worth $211,000 after acquiring an additional 2,797 shares during the period. Sanctuary Advisors LLC acquired a new position in Mind Medicine (MindMed) in the 3rd quarter worth about $91,000. Barclays PLC boosted its position in Mind Medicine (MindMed) by 203.6% during the third quarter. Barclays PLC now owns 136,098 shares of the company’s stock worth $775,000 after purchasing an additional 91,271 shares in the last quarter. Geode Capital Management LLC grew its holdings in Mind Medicine (MindMed) by 10.8% in the third quarter. Geode Capital Management LLC now owns 1,677,702 shares of the company’s stock valued at $9,548,000 after purchasing an additional 162,933 shares during the period. Finally, XTX Topco Ltd purchased a new stake in shares of Mind Medicine (MindMed) in the third quarter valued at approximately $337,000. 27.91% of the stock is owned by hedge funds and other institutional investors.

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.