Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) CAO Carrie Liao Sells 2,273 Shares

Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) CAO Carrie Liao sold 2,273 shares of Mind Medicine (MindMed) stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $7.43, for a total value of $16,888.39. Following the sale, the chief accounting officer now directly owns 97,270 shares in the company, valued at approximately $722,716.10. This trade represents a 2.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Mind Medicine (MindMed) Price Performance

Shares of MNMD stock opened at $6.84 on Friday. The firm’s 50 day moving average price is $7.25 and its two-hundred day moving average price is $6.98. The company has a debt-to-equity ratio of 0.09, a quick ratio of 9.00 and a current ratio of 9.00. Mind Medicine has a 52-week low of $3.49 and a 52-week high of $12.22. The stock has a market cap of $501.59 million, a PE ratio of -3.03 and a beta of 2.58.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on MNMD shares. Canaccord Genuity Group reduced their target price on Mind Medicine (MindMed) from $16.00 to $14.00 and set a “buy” rating for the company in a research report on Monday, September 16th. Chardan Capital assumed coverage on shares of Mind Medicine (MindMed) in a report on Friday, December 20th. They issued a “buy” rating and a $20.00 target price on the stock. Oppenheimer reaffirmed an “outperform” rating and set a $20.00 price objective on shares of Mind Medicine (MindMed) in a report on Tuesday, December 17th. HC Wainwright reissued a “buy” rating and issued a $55.00 target price on shares of Mind Medicine (MindMed) in a report on Monday, November 11th. Finally, Leerink Partnrs upgraded Mind Medicine (MindMed) to a “strong-buy” rating in a report on Friday, October 11th. Nine research analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Mind Medicine (MindMed) presently has a consensus rating of “Buy” and an average price target of $26.75.

Institutional Investors Weigh In On Mind Medicine (MindMed)

A number of institutional investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp lifted its stake in Mind Medicine (MindMed) by 472.7% in the second quarter. Bank of New York Mellon Corp now owns 246,208 shares of the company’s stock valued at $1,775,000 after buying an additional 203,216 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Mind Medicine (MindMed) during the second quarter valued at approximately $131,000. Rhumbline Advisers bought a new stake in Mind Medicine (MindMed) in the second quarter valued at approximately $679,000. Arizona State Retirement System bought a new stake in Mind Medicine (MindMed) in the second quarter valued at approximately $114,000. Finally, AdvisorShares Investments LLC raised its holdings in Mind Medicine (MindMed) by 13.4% in the second quarter. AdvisorShares Investments LLC now owns 124,166 shares of the company’s stock worth $878,000 after purchasing an additional 14,659 shares during the period. 27.91% of the stock is owned by institutional investors and hedge funds.

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.