XTX Topco Ltd Purchases Shares of 59,222 Mind Medicine (MindMed) Inc. (NASDAQ:MNMD)

XTX Topco Ltd acquired a new position in Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 59,222 shares of the company’s stock, valued at approximately $337,000.

A number of other large investors have also recently made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC purchased a new stake in Mind Medicine (MindMed) in the 3rd quarter worth approximately $58,000. Bridgewealth Advisory Group LLC bought a new position in shares of Mind Medicine (MindMed) in the second quarter worth approximately $72,000. Wealth Alliance purchased a new stake in shares of Mind Medicine (MindMed) in the second quarter worth $79,000. SG Americas Securities LLC bought a new stake in shares of Mind Medicine (MindMed) during the 3rd quarter valued at $93,000. Finally, Stoneridge Investment Partners LLC purchased a new position in shares of Mind Medicine (MindMed) during the 3rd quarter valued at $93,000. 27.91% of the stock is owned by hedge funds and other institutional investors.

Mind Medicine (MindMed) Stock Performance

NASDAQ:MNMD opened at $7.40 on Tuesday. 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 company has a market cap of $542.66 million, a price-to-earnings ratio of -3.27 and a beta of 2.58. Mind Medicine has a 1 year low of $3.27 and a 1 year high of $12.22. The stock’s 50 day simple moving average is $6.99 and its two-hundred day simple moving average is $7.01.

Insider Activity at Mind Medicine (MindMed)

In other news, insider Dan Karlin sold 6,871 shares of the business’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $5.98, for a total transaction of $41,088.58. Following the transaction, the insider now owns 344,656 shares of the company’s stock, valued at approximately $2,061,042.88. The trade was a 1.95 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Robert Barrow sold 19,771 shares of the stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $5.98, for a total value of $118,230.58. Following the sale, the chief executive officer now owns 545,772 shares in the company, valued at $3,263,716.56. The trade was a 3.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 28,994 shares of company stock valued at $173,384 over the last 90 days. 2.26% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

MNMD has been the subject of a number of analyst reports. Leerink Partners assumed coverage on Mind Medicine (MindMed) in a research note on Monday, October 14th. They issued an “outperform” rating and a $20.00 price target for the company. Leerink Partnrs upgraded Mind Medicine (MindMed) to a “strong-buy” rating in a research report on Friday, October 11th. HC Wainwright reissued a “buy” rating and issued a $55.00 price target on shares of Mind Medicine (MindMed) in a report on Monday, November 11th. Finally, Canaccord Genuity Group dropped their price target on 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. Eight 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, the company has an average rating of “Buy” and an average target price of $27.71.

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.