Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) CEO Sells $113,057.98 in Stock

Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) CEO Robert Barrow sold 15,659 shares of the firm’s stock in a transaction dated Tuesday, June 25th. The shares were sold at an average price of $7.22, for a total value of $113,057.98. Following the sale, the chief executive officer now owns 564,543 shares of the company’s stock, valued at $4,076,000.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Mind Medicine (MindMed) Stock Performance

MNMD stock opened at $7.25 on Friday. The company has a 50-day simple moving average of $8.33 and a 200 day simple moving average of $6.82. The company has a quick ratio of 3.91, a current ratio of 3.91 and a debt-to-equity ratio of 0.07. Mind Medicine has a fifty-two week low of $2.41 and a fifty-two week high of $12.22.

Mind Medicine (MindMed) (NASDAQ:MNMD) last posted its quarterly earnings data on Wednesday, May 8th. The company reported ($0.60) EPS for the quarter, beating analysts’ consensus estimates of ($0.66) by $0.06. As a group, research analysts predict that Mind Medicine will post -1.36 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Cantor Fitzgerald restated an “overweight” rating on shares of Mind Medicine (MindMed) in a research note on Friday, June 21st. Leerink Partnrs reaffirmed an “outperform” rating on shares of Mind Medicine (MindMed) in a research report on Monday, April 15th. Royal Bank of Canada reissued an “outperform” rating and issued a $22.00 price objective on shares of Mind Medicine (MindMed) in a report on Wednesday, June 5th. HC Wainwright reissued a “buy” rating and set a $35.00 price target on shares of Mind Medicine (MindMed) in a research report on Friday, May 24th. Finally, Baird R W raised shares of Mind Medicine (MindMed) to a “strong-buy” rating in a report on Wednesday, May 29th. Eight investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Mind Medicine (MindMed) currently has a consensus rating of “Buy” and an average target price of $20.00.

Institutional Trading of Mind Medicine (MindMed)

Hedge funds and other institutional investors have recently modified their holdings of the company. Jump Financial LLC lifted its holdings in Mind Medicine (MindMed) by 8.3% in the 4th quarter. Jump Financial LLC now owns 36,826 shares of the company’s stock valued at $135,000 after acquiring an additional 2,826 shares during the last quarter. Citigroup Inc. bought a new stake in Mind Medicine (MindMed) during the third quarter worth approximately $273,000. Scotia Capital Inc. acquired a new position in Mind Medicine (MindMed) in the fourth quarter worth approximately $441,000. Mitchell Mcleod Pugh & Williams Inc. bought a new position in shares of Mind Medicine (MindMed) in the fourth quarter valued at $73,000. Finally, Bailard Inc. acquired a new stake in shares of Mind Medicine (MindMed) during the 4th quarter valued at $63,000. 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.