Mind Medicine (MindMed) Inc. (NASDAQ:MNMD – Get Free Report) traded up 4.4% during mid-day trading on Wednesday . The stock traded as high as $9.30 and last traded at $9.23. 377,695 shares changed hands during trading, a decline of 78% from the average session volume of 1,686,270 shares. The stock had previously closed at $8.84.
Analysts Set New Price Targets
Several analysts have recently issued reports on the stock. HC Wainwright reissued a “buy” rating and set a $35.00 price objective on shares of Mind Medicine (MindMed) in a research note on Friday, May 24th. Oppenheimer reissued 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. Baird R W upgraded shares of Mind Medicine (MindMed) to a “strong-buy” rating in a report on Wednesday, May 29th. Royal Bank of Canada restated an “outperform” rating and set a $22.00 target price on shares of Mind Medicine (MindMed) in a report on Wednesday, June 5th. Finally, Roth Mkm initiated coverage on shares of Mind Medicine (MindMed) in a report on Wednesday. They set a “buy” rating and a $36.00 target price on the stock. Nine equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Mind Medicine (MindMed) currently has a consensus rating of “Buy” and a consensus target price of $22.00.
Check Out Our Latest Stock Report on Mind Medicine (MindMed)
Mind Medicine (MindMed) Price Performance
Mind Medicine (MindMed) (NASDAQ:MNMD – Get Free Report) last issued its quarterly earnings data on Wednesday, May 8th. The company reported ($0.60) EPS for the quarter, topping analysts’ consensus estimates of ($0.66) by $0.06. Research analysts predict that Mind Medicine will post -1.36 EPS for the current fiscal year.
Insider Transactions at Mind Medicine (MindMed)
In other news, CEO Robert Barrow sold 15,659 shares of the business’s stock in a transaction dated Tuesday, June 25th. The shares were sold at an average price of $7.22, for a total value of $113,057.98. Following the completion of the sale, the chief executive officer now owns 564,543 shares of the company’s stock, valued at approximately $4,076,000.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Dan Karlin sold 6,925 shares of the business’s stock in a transaction dated Tuesday, June 25th. The shares were sold at an average price of $7.22, for a total value of $49,998.50. Following the completion of the sale, the insider now owns 351,527 shares of the company’s stock, valued at approximately $2,538,024.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Robert Barrow sold 15,659 shares of the business’s stock in a transaction dated Tuesday, June 25th. The shares were sold at an average price of $7.22, for a total transaction of $113,057.98. Following the sale, the chief executive officer now directly owns 564,543 shares of the company’s stock, valued at approximately $4,076,000.46. The disclosure for this sale can be found here. Insiders own 2.26% of the company’s stock.
Institutional Investors Weigh In On Mind Medicine (MindMed)
A number of institutional investors have recently modified their holdings of the business. SageView Advisory Group LLC bought a new stake in shares of Mind Medicine (MindMed) during the 1st quarter valued at about $25,000. Jump Financial LLC grew its position in shares of 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 last quarter. Bailard Inc. bought a new stake in shares of Mind Medicine (MindMed) during the 4th quarter valued at about $63,000. Sequoia Financial Advisors LLC bought a new stake in shares of Mind Medicine (MindMed) during the 1st quarter valued at about $168,000. Finally, Mitchell Mcleod Pugh & Williams Inc. bought a new stake in shares of Mind Medicine (MindMed) during the 4th quarter valued at about $73,000. Institutional investors 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.
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