Insider Selling: Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) CEO Sells 21,208 Shares of Stock

Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) CEO Robert Barrow sold 21,208 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 transaction of $142,941.92. Following the transaction, the chief executive officer now directly owns 856,556 shares of the company’s stock, valued at $5,773,187.44. This trade represents a 2.42 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available 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 shares were sold at an average price of $7.43, for a total transaction of $141,957.58.

Mind Medicine (MindMed) Trading Down 2.9 %

NASDAQ MNMD opened at $6.58 on Thursday. The stock has a market cap of $495.92 million, a P/E ratio of -2.91 and a beta of 2.57. The company’s fifty day simple moving average is $7.28 and its 200-day simple moving average is $6.96. The company has a current ratio of 9.00, a quick ratio of 9.00 and a debt-to-equity ratio of 0.09. Mind Medicine has a 52 week low of $5.03 and a 52 week high of $12.22.

Mind Medicine (MindMed) (NASDAQ:MNMD) last issued 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 business posted ($0.59) EPS. Equities research analysts predict that Mind Medicine will post -1.35 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently weighed in on MNMD shares. Evercore ISI started coverage on Mind Medicine (MindMed) in a report on Tuesday, January 28th. They issued an “outperform” rating and a $23.00 target price on the stock. Robert W. Baird decreased their target price 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. Chardan Capital started coverage on shares of Mind Medicine (MindMed) in a report on Friday, December 20th. They issued a “buy” rating and a $20.00 price target on the stock. Oppenheimer reaffirmed an “outperform” rating and set a $20.00 price target on shares of Mind Medicine (MindMed) in a research report on Tuesday, December 17th. Finally, HC Wainwright reissued a “buy” rating and issued a $55.00 target price on shares of Mind Medicine (MindMed) in a research note on Friday, March 7th. Ten research analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $25.11.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of MNMD. Wellington Management Group LLP increased its holdings 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 worth $1,354,000 after purchasing an additional 8,769 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position 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 worth $94,000 after buying an additional 3,350 shares in the last quarter. AWM Investment Company Inc. increased its stake 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 worth $8,304,000 after buying an additional 340,162 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings 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 valued at $592,000 after acquiring an additional 14,691 shares in the last quarter. Finally, Woodline Partners LP boosted its stake 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 valued at $6,996,000 after acquiring an additional 2,654 shares during the last quarter. Institutional investors and hedge funds own 27.91% of the company’s stock.

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.