Insider Selling: Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) CEO Sells $141,957.58 in Stock

Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) CEO Robert Barrow sold 19,106 shares of the firm’s stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $7.43, for a total value of $141,957.58. Following the completion of the sale, the chief executive officer now directly owns 526,666 shares of the company’s stock, valued at approximately $3,913,128.38. This trade represents a 3.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Mind Medicine (MindMed) Trading Down 10.4 %

Shares of NASDAQ:MNMD opened at $6.84 on Monday. The company has a current ratio of 9.00, a quick ratio of 9.00 and a debt-to-equity ratio of 0.09. The stock has a market capitalization of $501.59 million, a PE ratio of -3.03 and a beta of 2.58. Mind Medicine has a 1 year low of $3.49 and a 1 year high of $12.22. The firm has a fifty day moving average price of $7.25 and a 200 day moving average price of $6.97.

Analyst Upgrades and Downgrades

MNMD has been the subject of a number of research reports. Leerink Partners started coverage on Mind Medicine (MindMed) in a research report on Monday, October 14th. They set an “outperform” rating and a $20.00 price objective for the company. Leerink Partnrs raised shares of Mind Medicine (MindMed) to a “strong-buy” rating in a research report on Friday, October 11th. Oppenheimer reiterated an “outperform” rating and issued a $20.00 price objective on shares of Mind Medicine (MindMed) in a research note on Tuesday, December 17th. Canaccord Genuity Group decreased their target price on shares of Mind Medicine (MindMed) from $16.00 to $14.00 and set a “buy” rating for the company in a research note on Monday, September 16th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $55.00 price target on shares of Mind Medicine (MindMed) in a research note on Monday, November 11th. Nine equities 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, Mind Medicine (MindMed) has a consensus rating of “Buy” and a consensus price target of $26.75.

Institutional Trading of Mind Medicine (MindMed)

Large investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp lifted its holdings in Mind Medicine (MindMed) by 472.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 246,208 shares of the company’s stock worth $1,775,000 after purchasing an additional 203,216 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of Mind Medicine (MindMed) by 142.6% in the third quarter. Wellington Management Group LLP now owns 185,722 shares of the company’s stock worth $1,057,000 after buying an additional 109,152 shares during the last quarter. Rhumbline Advisers bought a new stake in shares of Mind Medicine (MindMed) during the 2nd quarter worth $679,000. State Street Corp grew its stake in Mind Medicine (MindMed) by 0.5% in the 3rd quarter. State Street Corp now owns 1,814,829 shares of the company’s stock valued at $10,326,000 after buying an additional 9,782 shares during the last quarter. Finally, Marshall Wace LLP raised its holdings in Mind Medicine (MindMed) by 8.1% in the 2nd quarter. Marshall Wace LLP now owns 2,160,203 shares of the company’s stock worth $15,575,000 after acquiring an additional 161,659 shares during the period. Institutional investors own 27.91% of the company’s stock.

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.