Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) CEO Robert Barrow Sells 21,208 Shares

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 shares were sold at an average price of $6.74, for a total value of $142,941.92. Following the transaction, the chief executive officer now owns 856,556 shares of the company’s stock, valued at $5,773,187.44. This represents a 2.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

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 shares were sold at an average price of $7.43, for a total transaction of $141,957.58.

Mind Medicine (MindMed) Stock Down 2.3 %

NASDAQ:MNMD opened at $6.43 on Friday. The stock has a fifty day simple moving average of $7.28 and a 200-day simple moving average of $6.95. The company has a current ratio of 9.00, a quick ratio of 9.00 and a debt-to-equity ratio of 0.09. 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 has a twelve month low of $5.03 and a twelve month high of $12.22.

Mind Medicine (MindMed) (NASDAQ:MNMD) last released its quarterly earnings data on Thursday, March 6th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.33) by ($0.08). During the same quarter in the prior year, the firm earned ($0.59) EPS. Analysts anticipate that Mind Medicine will post -1.35 EPS for the current year.

Analysts Set New Price Targets

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

Institutional Trading of Mind Medicine (MindMed)

A number of large investors have recently modified their holdings of the company. Wellington Management Group LLP raised its position in Mind Medicine (MindMed) by 4.7% during the 4th quarter. Wellington Management Group LLP now owns 194,491 shares of the company’s stock valued at $1,354,000 after purchasing an additional 8,769 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of Mind Medicine (MindMed) by 32.8% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 13,550 shares of the company’s stock valued at $94,000 after buying an additional 3,350 shares during the period. AWM Investment Company Inc. raised its holdings in shares of Mind Medicine (MindMed) by 39.9% in the fourth quarter. AWM Investment Company Inc. now owns 1,193,162 shares of the company’s stock valued at $8,304,000 after acquiring an additional 340,162 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Mind Medicine (MindMed) by 20.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 85,044 shares of the company’s stock worth $592,000 after acquiring an additional 14,691 shares during the period. Finally, Woodline Partners LP grew its holdings in Mind Medicine (MindMed) by 0.3% during the 4th quarter. Woodline Partners LP now owns 1,005,198 shares of the company’s stock worth $6,996,000 after acquiring an additional 2,654 shares in 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.