Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) Insider Daniel Karlin Sells 6,836 Shares

Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) insider Daniel Karlin sold 6,836 shares of the company’s stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $6.74, for a total value of $46,074.64. Following the sale, the insider now directly owns 446,177 shares in the company, valued at $3,007,232.98. This trade represents a 1.51 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Mind Medicine (MindMed) Trading Down 2.3 %

Shares of NASDAQ MNMD opened at $6.43 on Friday. The business’s 50 day moving average price is $7.28 and its 200-day moving average price is $6.95. Mind Medicine has a fifty-two week low of $5.03 and a fifty-two week high of $12.22. The company has a debt-to-equity ratio of 0.09, a quick ratio of 9.00 and a current ratio of 9.00. The company has a market cap of $484.62 million, a price-to-earnings ratio of -2.85 and a beta of 2.57.

Mind Medicine (MindMed) (NASDAQ:MNMD) last released its earnings results on Thursday, March 6th. The company reported ($0.41) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.08). During the same period last year, the firm posted ($0.59) earnings per share. On average, sell-side analysts expect that Mind Medicine will post -1.35 earnings per share for the current year.

Institutional Investors Weigh In On Mind Medicine (MindMed)

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Diadema Partners LP bought a new position in Mind Medicine (MindMed) in the 4th quarter worth about $33,000. Hollencrest Capital Management boosted its holdings in shares of Mind Medicine (MindMed) by 10,833.3% in the fourth quarter. Hollencrest Capital Management now owns 7,216 shares of the company’s stock valued at $50,000 after purchasing an additional 7,150 shares during the period. King Wealth Management Group bought a new position in Mind Medicine (MindMed) in the fourth quarter worth approximately $70,000. Virtus ETF Advisers LLC purchased a new position in Mind Medicine (MindMed) during the 4th quarter worth $70,000. Finally, Sharpepoint LLC purchased a new stake in shares of Mind Medicine (MindMed) in the 4th quarter worth $71,000. Institutional investors own 27.91% of the company’s stock.

Analyst Upgrades and Downgrades

MNMD has been the topic of a number of recent research reports. 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 target on the stock. Oppenheimer reaffirmed an “outperform” rating and issued a $20.00 price target on shares of Mind Medicine (MindMed) in a report on Tuesday, December 17th. Evercore ISI started coverage on Mind Medicine (MindMed) in a research report on Tuesday, January 28th. They issued an “outperform” rating and a $23.00 price target for the company. Robert W. Baird decreased their price objective on Mind Medicine (MindMed) from $27.00 to $16.00 and set an “outperform” rating on the stock in a research report on Friday, March 7th. Finally, HC Wainwright reiterated a “buy” rating and issued a $55.00 target price on shares of Mind Medicine (MindMed) in a report on Friday, March 7th. Ten 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 MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $25.11.

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.