Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) CEO Robert Barrow Sells 21,208 Shares of Stock

Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) CEO Robert Barrow sold 21,208 shares of the company’s stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $6.74, for a total value of $142,941.92. Following the sale, the chief executive officer now owns 856,556 shares of the company’s stock, valued at $5,773,187.44. This represents a 2.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Robert Barrow also recently made the following trade(s):

• On Thursday, December 26th, Robert Barrow sold 19,106 shares of Mind Medicine (MindMed) stock. The stock was sold at an average price of $7.43, for a total transaction of $141,957.58.

Mind Medicine (MindMed) Price Performance

MNMD opened at $6.19 on Friday. The company has a market capitalization of $466.53 million, a P/E ratio of -2.74 and a beta of 2.57. The company has a 50-day moving average of $7.26 and a 200-day moving average of $6.95. The company has a debt-to-equity ratio of 0.09, a quick ratio of 9.00 and a current ratio of 9.00. Mind Medicine has a 1-year low of $5.03 and a 1-year high of $12.22.

Mind Medicine (MindMed) (NASDAQ:MNMD) last announced its quarterly earnings data on Thursday, March 6th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.33) by ($0.08). During the same quarter in the previous year, the business posted ($0.59) earnings per share. Equities analysts expect that Mind Medicine will post -1.35 EPS for the current fiscal year.

Hedge Funds Weigh In On Mind Medicine (MindMed)

A number of hedge funds have recently added to or reduced their stakes in the business. Diadema Partners LP acquired a new stake in shares of Mind Medicine (MindMed) during the fourth quarter worth $33,000. Hollencrest Capital Management boosted its stake in Mind Medicine (MindMed) by 10,833.3% in the fourth quarter. Hollencrest Capital Management now owns 7,216 shares of the company’s stock valued at $50,000 after acquiring an additional 7,150 shares during the period. King Wealth Management Group bought a new position in shares of Mind Medicine (MindMed) during the fourth quarter valued at approximately $70,000. Virtus ETF Advisers LLC acquired a new stake in shares of Mind Medicine (MindMed) during the 4th quarter worth approximately $70,000. Finally, Sharpepoint LLC bought a new stake in shares of Mind Medicine (MindMed) in the 4th quarter worth approximately $71,000. Institutional investors and hedge funds own 27.91% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Evercore ISI assumed coverage on shares of Mind Medicine (MindMed) in a research report on Tuesday, January 28th. They issued an “outperform” rating and a $23.00 price objective for the company. Robert W. Baird cut their price objective on Mind Medicine (MindMed) from $27.00 to $16.00 and set an “outperform” rating on the stock in a research report on Friday, March 7th. Chardan Capital initiated coverage on Mind Medicine (MindMed) in a research note on Friday, December 20th. They set a “buy” rating and a $20.00 price objective on the stock. HC Wainwright reiterated a “buy” rating and set a $55.00 target price on shares of Mind Medicine (MindMed) in a report on Friday, March 7th. Finally, Oppenheimer restated an “outperform” rating and issued a $20.00 price target on shares of Mind Medicine (MindMed) in a report on Tuesday, December 17th. Ten research analysts have rated the stock with a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $25.11.

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, which is in phase I clinical trials for the treatment of core symptoms of autism spectrum disorder.