Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) Shares Purchased by Barclays PLC

Barclays PLC grew its position in shares of Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) by 203.6% during the 3rd quarter, Holdings Channel reports. The firm owned 136,098 shares of the company’s stock after purchasing an additional 91,271 shares during the period. Barclays PLC’s holdings in Mind Medicine (MindMed) were worth $775,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Tri Locum Partners LP boosted its stake in Mind Medicine (MindMed) by 0.6% during the second quarter. Tri Locum Partners LP now owns 382,055 shares of the company’s stock valued at $2,755,000 after buying an additional 2,459 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Mind Medicine (MindMed) by 22.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,226 shares of the company’s stock valued at $126,000 after purchasing an additional 4,079 shares in the last quarter. Cubist Systematic Strategies LLC raised 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 purchasing an additional 6,890 shares in the last quarter. State Street Corp lifted its stake in Mind Medicine (MindMed) by 0.5% during the third quarter. State Street Corp now owns 1,814,829 shares of the company’s stock valued at $10,326,000 after purchasing an additional 9,782 shares during the last quarter. Finally, Bridgewealth Advisory Group LLC bought a new stake in Mind Medicine (MindMed) during the second quarter worth approximately $72,000. 27.91% of the stock is currently owned by institutional investors and hedge funds.

Mind Medicine (MindMed) Stock Performance

MNMD stock opened at $6.96 on Wednesday. The firm has a 50 day simple moving average of $7.25 and a 200 day simple moving average of $6.96. 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 $510.39 million, a P/E ratio of -3.08 and a beta of 2.58. The company has a debt-to-equity ratio of 0.09, a quick ratio of 9.00 and a current ratio of 9.00.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on MNMD shares. Oppenheimer reiterated an “outperform” rating and set a $20.00 price objective on shares of Mind Medicine (MindMed) in a research report on Tuesday, December 17th. Leerink Partners began coverage on Mind Medicine (MindMed) in a report on Monday, October 14th. They set an “outperform” rating and a $20.00 target price for the company. Leerink Partnrs upgraded Mind Medicine (MindMed) to a “strong-buy” rating in a report on Friday, October 11th. Chardan Capital began coverage on shares of Mind Medicine (MindMed) in a research note on Friday, December 20th. They set a “buy” rating and a $20.00 price objective for the company. Finally, HC Wainwright reissued a “buy” rating and issued a $55.00 target price on shares of Mind Medicine (MindMed) in a research report on Monday, November 11th. Nine equities research analysts have rated the stock with a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Mind Medicine (MindMed) currently has an average rating of “Buy” and a consensus price target of $26.75.

Insiders Place Their Bets

In other Mind Medicine (MindMed) news, 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 transaction, the insider now directly owns 338,013 shares of the company’s stock, valued at $2,511,436.59. This represents a 1.93 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Robert Barrow sold 19,106 shares of Mind Medicine (MindMed) stock in a transaction dated Thursday, December 26th. The shares were 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 of the company’s stock, valued at approximately $3,913,128.38. This represents a 3.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 28,022 shares of company stock worth $208,203 in the last quarter. 2.26% of the stock is currently owned by corporate insiders.

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.