Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) CEO Sells $142,941.92 in Stock

Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) CEO Robert Barrow sold 21,208 shares of the 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 $142,941.92. Following the sale, the chief executive officer now directly owns 856,556 shares of the company’s stock, valued at $5,773,187.44. The trade was a 2.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Robert Barrow also recently made the following trade(s):

• On Thursday, December 26th, Robert Barrow sold 19,106 shares of Mind Medicine (MindMed) stock. The stock was sold at an average price of $7.43, for a total value of $141,957.58.

Mind Medicine (MindMed) Price Performance

Shares of NASDAQ:MNMD opened at $6.19 on Friday. 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 business’s fifty day moving average price is $7.26 and its two-hundred day moving average price is $6.95. The stock has a market cap of $466.53 million, a PE ratio of -2.74 and a beta of 2.57. Mind Medicine has a one year low of $5.03 and a one year high of $12.22.

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

Analyst Upgrades and Downgrades

A number of equities analysts have commented on MNMD shares. Oppenheimer restated an “outperform” rating and set a $20.00 price objective on shares of Mind Medicine (MindMed) in a research report on Tuesday, December 17th. Chardan Capital initiated coverage on shares of Mind Medicine (MindMed) in a research report on Friday, December 20th. They issued a “buy” rating and a $20.00 price objective for the company. Robert W. Baird reduced their price target on Mind Medicine (MindMed) from $27.00 to $16.00 and set an “outperform” rating for the company in a report on Friday, March 7th. Evercore ISI began coverage on Mind Medicine (MindMed) in a report on Tuesday, January 28th. They set an “outperform” rating and a $23.00 price objective on the stock. Finally, HC Wainwright restated a “buy” rating and set a $55.00 target price on shares of Mind Medicine (MindMed) in a research report on Friday, March 7th. Ten analysts have rated the stock with a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $25.11.

Hedge Funds Weigh In On Mind Medicine (MindMed)

Institutional investors and hedge funds have recently modified their holdings of the company. Intech Investment Management LLC purchased a new position in shares of Mind Medicine (MindMed) during the 3rd quarter worth $134,000. Charles Schwab Investment Management Inc. lifted its position in Mind Medicine (MindMed) by 8.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 602,544 shares of the company’s stock worth $3,428,000 after buying an additional 46,187 shares during the period. MetLife Investment Management LLC acquired a new stake in Mind Medicine (MindMed) in the 3rd quarter worth about $242,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Mind Medicine (MindMed) by 22.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,226 shares of the company’s stock valued at $126,000 after buying an additional 4,079 shares during the period. Finally, State Street Corp increased its stake in shares of Mind Medicine (MindMed) by 0.5% during the 3rd quarter. State Street Corp now owns 1,814,829 shares of the company’s stock valued at $10,326,000 after acquiring an additional 9,782 shares during the last quarter. Hedge funds and other institutional investors own 27.91% of the company’s stock.

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.