Mind Medicine (MindMed) (NASDAQ:MNMD) Trading 3% Higher

Mind Medicine (MindMed) Inc. (NASDAQ:MNMDGet Free Report)’s stock price was up 3% during trading on Tuesday . The company traded as high as $8.47 and last traded at $8.37. Approximately 384,529 shares were traded during mid-day trading, a decline of 78% from the average daily volume of 1,760,393 shares. The stock had previously closed at $8.13.

Analyst Ratings Changes

MNMD has been the topic of several research reports. Leerink Partnrs reiterated an “outperform” rating on shares of Mind Medicine (MindMed) in a report on Monday, April 15th. SVB Leerink began coverage on shares of Mind Medicine (MindMed) in a research note on Monday, April 15th. They set an “outperform” rating and a $20.00 price target for the company. Royal Bank of Canada upped their target price on shares of Mind Medicine (MindMed) from $14.00 to $15.00 and gave the stock an “outperform” rating in a report on Thursday, February 29th. Oppenheimer restated an “outperform” rating and set a $20.00 price objective (down from $29.00) on shares of Mind Medicine (MindMed) in a research note on Monday, May 13th. Finally, HC Wainwright reduced their target price on shares of Mind Medicine (MindMed) from $75.00 to $35.00 and set a “buy” rating for the company in a research note on Friday, May 10th. Seven analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $17.67.

Read Our Latest Analysis on Mind Medicine (MindMed)

Mind Medicine (MindMed) Price Performance

The business’s fifty day moving average is $9.43 and its 200-day moving average is $5.96. The company has a current ratio of 3.91, a quick ratio of 3.91 and a debt-to-equity ratio of 0.07.

Mind Medicine (MindMed) (NASDAQ:MNMDGet Free Report) last announced its quarterly earnings data on Wednesday, February 28th. The company reported ($0.59) earnings per share for the quarter, missing the consensus estimate of ($0.48) by ($0.11). On average, equities research analysts anticipate that Mind Medicine will post -1.36 EPS for the current year.

Insider Activity

In other Mind Medicine (MindMed) news, CEO Robert Barrow sold 16,519 shares of the stock in a transaction on Monday, March 25th. The stock was sold at an average price of $9.50, for a total transaction of $156,930.50. Following the sale, the chief executive officer now owns 580,202 shares in the company, valued at $5,511,919. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Mind Medicine (MindMed) news, CEO Robert Barrow sold 16,519 shares of the company’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $9.50, for a total value of $156,930.50. Following the transaction, the chief executive officer now directly owns 580,202 shares in the company, valued at approximately $5,511,919. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Dan Karlin sold 6,578 shares of Mind Medicine (MindMed) 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 sale, the insider now owns 358,452 shares of the company’s stock, valued at approximately $3,405,294. The disclosure for this sale can be found here. Insiders own 2.26% of the company’s stock.

Institutional Trading of Mind Medicine (MindMed)

Hedge funds and other institutional investors have recently bought and sold shares of the company. SageView Advisory Group LLC bought a new stake in shares of Mind Medicine (MindMed) in the 1st quarter valued at about $25,000. Jump Financial LLC boosted its position in Mind Medicine (MindMed) by 8.3% during the 4th quarter. Jump Financial LLC now owns 36,826 shares of the company’s stock valued at $135,000 after buying an additional 2,826 shares during the period. Regal Investment Advisors LLC purchased a new stake in shares of Mind Medicine (MindMed) during the third quarter worth about $46,000. Commonwealth Equity Services LLC bought a new stake in shares of Mind Medicine (MindMed) in the third quarter worth about $53,000. Finally, Bailard Inc. bought a new position in Mind Medicine (MindMed) during the 4th quarter valued at approximately $63,000. Hedge funds and other institutional investors own 27.91% of the company’s stock.

About Mind Medicine (MindMed)

(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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