Carrie Liao Sells 2,352 Shares of Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) Stock

Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) CAO Carrie Liao sold 2,352 shares of the firm’s stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $5.98, for a total value of $14,064.96. Following the transaction, the chief accounting officer now owns 99,543 shares of the company’s stock, valued at $595,267.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Mind Medicine (MindMed) Trading Down 1.2 %

NASDAQ:MNMD opened at $5.89 on Friday. Mind Medicine has a 1 year low of $2.41 and a 1 year high of $12.22. The stock has a market cap of $423.33 million, a P/E ratio of -2.00 and a beta of 2.53. The company has a debt-to-equity ratio of 0.12, a quick ratio of 5.92 and a current ratio of 5.92. The stock has a 50-day simple moving average of $6.85 and a 200-day simple moving average of $8.01.

Mind Medicine (MindMed) (NASDAQ:MNMD) last issued its quarterly earnings data on Tuesday, August 13th. The company reported ($0.48) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.30) by ($0.18). As a group, analysts anticipate that Mind Medicine will post -1.27 earnings per share for the current fiscal year.

Analyst Ratings Changes

MNMD has been the topic of several research reports. Roth Mkm started coverage on Mind Medicine (MindMed) in a research note on Wednesday, July 24th. They set a “buy” rating and a $36.00 target price on the stock. HC Wainwright increased their price target on shares of Mind Medicine (MindMed) from $35.00 to $55.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Canaccord Genuity Group dropped their price objective on shares of Mind Medicine (MindMed) from $16.00 to $14.00 and set a “buy” rating for the company in a report on Monday, September 16th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Mind Medicine (MindMed) in a report on Friday, June 21st. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $22.00 price target on shares of Mind Medicine (MindMed) in a research report on Wednesday, June 5th. Ten analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Mind Medicine (MindMed) currently has an average rating of “Buy” and an average target price of $25.38.

Hedge Funds Weigh In On Mind Medicine (MindMed)

Several institutional investors have recently added to or reduced their stakes in MNMD. Cubist Systematic Strategies LLC lifted its position in Mind Medicine (MindMed) by 24.1% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 35,508 shares of the company’s stock worth $256,000 after acquiring an additional 6,890 shares during the period. The Manufacturers Life Insurance Company purchased a new stake in shares of Mind Medicine (MindMed) during the second quarter worth approximately $197,000. Marshall Wace LLP lifted its holdings in shares of Mind Medicine (MindMed) by 8.1% during the second quarter. Marshall Wace LLP now owns 2,160,203 shares of the company’s stock worth $15,575,000 after purchasing an additional 161,659 shares during the period. Tri Locum Partners LP grew its position in Mind Medicine (MindMed) by 0.6% in the 2nd quarter. Tri Locum Partners LP now owns 382,055 shares of the company’s stock valued at $2,755,000 after buying an additional 2,459 shares during the last quarter. Finally, Bridgewealth Advisory Group LLC acquired a new position in Mind Medicine (MindMed) in the 2nd quarter valued at $72,000. Institutional investors and hedge funds own 27.91% of the company’s stock.

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.