China Universal Asset Management Co. Ltd. Acquires New Stake in Mind Medicine (MindMed) Inc. (NASDAQ:MNMD)

China Universal Asset Management Co. Ltd. acquired a new stake in shares of Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 15,549 shares of the company’s stock, valued at approximately $108,000.

A number of other large investors also recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC boosted its holdings in Mind Medicine (MindMed) by 21.9% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 12,430 shares of the company’s stock valued at $87,000 after acquiring an additional 2,230 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Mind Medicine (MindMed) by 8.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 36,995 shares of the company’s stock worth $211,000 after buying an additional 2,797 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Mind Medicine (MindMed) by 22.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,226 shares of the company’s stock worth $126,000 after buying an additional 4,079 shares during the period. Cubist Systematic Strategies LLC lifted its holdings in shares of Mind Medicine (MindMed) by 24.1% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 35,508 shares of the company’s stock worth $256,000 after buying an additional 6,890 shares during the period. Finally, SG Americas Securities LLC lifted its holdings in shares of Mind Medicine (MindMed) by 48.8% in the 4th quarter. SG Americas Securities LLC now owns 24,406 shares of the company’s stock worth $170,000 after buying an additional 8,004 shares during the period. Hedge funds and other institutional investors own 27.91% of the company’s stock.

Insider Activity

In other news, CEO Robert Barrow sold 19,106 shares of the company’s stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $7.43, for a total value of $141,957.58. Following the sale, the chief executive officer now owns 526,666 shares in the company, valued at $3,913,128.38. This represents a 3.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Dan Karlin sold 6,643 shares of the company’s stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $7.43, for a total value of $49,357.49. Following the completion of the sale, the insider now owns 338,013 shares in the company, valued at $2,511,436.59. The trade was a 1.93 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 28,022 shares of company stock valued at $208,203. Company insiders own 2.26% of the company’s stock.

Mind Medicine (MindMed) Trading Up 8.5 %

Shares of NASDAQ:MNMD opened at $7.37 on Tuesday. The business’s 50-day moving average is $7.26 and its 200 day moving average is $6.90. The company has a debt-to-equity ratio of 0.09, a current ratio of 9.00 and a quick ratio of 9.00. The firm has a market capitalization of $540.44 million, a P/E ratio of -3.26 and a beta of 2.59. Mind Medicine has a 1 year low of $3.85 and a 1 year high of $12.22.

Mind Medicine (MindMed) (NASDAQ:MNMD) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.27) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.02. During the same period last year, the business earned ($0.53) earnings per share. On average, research analysts predict that Mind Medicine will post -1.35 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Leerink Partners assumed coverage on Mind Medicine (MindMed) in a report on Monday, October 14th. They issued an “outperform” rating and a $20.00 target price for the company. HC Wainwright reiterated a “buy” rating and issued a $55.00 target price on shares of Mind Medicine (MindMed) in a report on Friday. Chardan Capital assumed coverage on Mind Medicine (MindMed) in a report on Friday, December 20th. They issued a “buy” rating and a $20.00 target price for the company. Evercore ISI started coverage on Mind Medicine (MindMed) in a report on Tuesday, January 28th. They issued an “outperform” rating and a $23.00 target price for the company. Finally, Leerink Partnrs raised Mind Medicine (MindMed) to a “strong-buy” rating in a research report on Friday, October 11th. Ten research analysts have rated the stock with a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, Mind Medicine (MindMed) has a consensus rating of “Buy” and a consensus price target of $26.33.

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.