Mind Medicine (MindMed) (NASDAQ:MNMD) Shares Down 1.7%

Mind Medicine (MindMed) Inc. (NASDAQ:MNMDGet Free Report)’s stock price traded down 1.7% during trading on Tuesday . The stock traded as low as $8.97 and last traded at $9.36. 489,301 shares traded hands during mid-day trading, a decline of 75% from the average session volume of 1,936,234 shares. The stock had previously closed at $9.52.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. HC Wainwright restated a “buy” rating and issued a $75.00 price objective on shares of Mind Medicine (MindMed) in a research note on Thursday, March 14th. Royal Bank of Canada upped their price objective 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. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Mind Medicine (MindMed) currently has an average rating of “Buy” and a consensus price target of $24.83.

View Our Latest Stock Report on Mind Medicine (MindMed)

Mind Medicine (MindMed) Stock Up 5.0 %

The company has a quick ratio of 3.22, a current ratio of 3.22 and a debt-to-equity ratio of 0.18. The stock has a 50 day simple moving average of $6.63 and a 200-day simple moving average of $4.43.

Mind Medicine (MindMed) (NASDAQ:MNMDGet Free Report) last released its quarterly earnings data on Wednesday, February 28th. The company reported ($0.59) EPS for the quarter, missing the consensus estimate of ($0.48) by ($0.11). Analysts expect that Mind Medicine will post -1.7 EPS for the current year.

Insider Buying and Selling at Mind Medicine (MindMed)

In other Mind Medicine (MindMed) news, insider Dan Karlin sold 6,578 shares of the stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $9.50, for a total transaction of $62,491.00. Following the completion of the transaction, the insider now owns 358,452 shares of the company’s stock, valued at approximately $3,405,294. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Dan Karlin sold 6,578 shares of the stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $9.50, for a total value of $62,491.00. Following the completion of the transaction, the insider now owns 358,452 shares of the company’s stock, valued at approximately $3,405,294. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Robert Barrow sold 16,519 shares of the stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $9.50, for a total transaction of $156,930.50. Following the completion of the transaction, the chief executive officer now directly owns 580,202 shares of the company’s stock, valued at approximately $5,511,919. The disclosure for this sale can be found here. Insiders own 2.11% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. State Street Corp lifted its stake in Mind Medicine (MindMed) by 7.3% in the first quarter. State Street Corp now owns 6,145,503 shares of the company’s stock worth $6,822,000 after purchasing an additional 416,765 shares during the last quarter. Millennium Management LLC lifted its stake in Mind Medicine (MindMed) by 1,063.1% in the second quarter. Millennium Management LLC now owns 5,075,110 shares of the company’s stock worth $3,249,000 after purchasing an additional 4,638,774 shares during the last quarter. Swiss National Bank lifted its stake in Mind Medicine (MindMed) by 23.1% in the first quarter. Swiss National Bank now owns 951,100 shares of the company’s stock worth $1,079,000 after purchasing an additional 178,300 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Mind Medicine (MindMed) by 1.8% in the first quarter. Bank of New York Mellon Corp now owns 936,388 shares of the company’s stock worth $1,039,000 after purchasing an additional 16,746 shares during the last quarter. Finally, LPL Financial LLC bought a new stake in Mind Medicine (MindMed) in the second quarter worth about $496,000. Institutional investors own 27.91% of the company’s stock.

Mind Medicine (MindMed) Company Profile

(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 for the treatment of core symptoms of autism spectrum disorder.

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