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

Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) CEO Robert Barrow sold 21,208 shares of the business’s stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $6.74, for a total transaction of $142,941.92. Following the sale, the chief executive officer now owns 856,556 shares of the company’s stock, valued at approximately $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 SEC, which is available at this link.

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 value of $141,957.58.

Mind Medicine (MindMed) Stock Down 2.3 %

MNMD opened at $6.43 on Friday. The stock has a market cap of $484.62 million, a price-to-earnings ratio of -2.85 and a beta of 2.57. The company has a debt-to-equity ratio of 0.09, a quick ratio of 9.00 and a current ratio of 9.00. The firm’s fifty day moving average is $7.28 and its 200 day moving average is $6.95. Mind Medicine has a fifty-two week low of $5.03 and a fifty-two week high of $12.22.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Diadema Partners LP bought a new stake in shares of Mind Medicine (MindMed) during the fourth quarter valued at approximately $33,000. Hollencrest Capital Management grew its stake in Mind Medicine (MindMed) by 10,833.3% during 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 in the last quarter. King Wealth Management Group bought a new stake in Mind Medicine (MindMed) in the 4th quarter valued at $70,000. Virtus ETF Advisers LLC purchased a new stake in Mind Medicine (MindMed) in the 4th quarter worth $70,000. Finally, Sharpepoint LLC purchased a new stake in Mind Medicine (MindMed) in the 4th quarter worth $71,000. 27.91% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

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.