Robert Barrow Sells 16,519 Shares of Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) Stock

Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) CEO Robert Barrow sold 16,519 shares of the business’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $9.50, for a total transaction of $156,930.50. Following the completion of the sale, the chief executive officer now owns 580,202 shares in the company, valued at $5,511,919. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Mind Medicine (MindMed) Trading Down 3.7 %

MNMD opened at $9.50 on Thursday. The firm has a 50 day moving average price of $5.99 and a 200 day moving average price of $4.23. Mind Medicine has a 1 year low of $2.41 and a 1 year high of $11.10. The company has a debt-to-equity ratio of 0.18, a current ratio of 3.22 and a quick ratio of 3.22.

Mind Medicine (MindMed) (NASDAQ:MNMD) last posted its earnings results on Wednesday, February 28th. The company reported ($0.59) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.11). Analysts forecast that Mind Medicine will post -1.7 EPS for the current year.

Institutional Trading of Mind Medicine (MindMed)

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Goldman Sachs Group Inc. grew its position in Mind Medicine (MindMed) by 316.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 111,931 shares of the company’s stock valued at $410,000 after acquiring an additional 85,025 shares in the last quarter. Scotia Capital Inc. acquired a new stake in Mind Medicine (MindMed) in the fourth quarter valued at approximately $441,000. Jump Financial LLC grew its position in Mind Medicine (MindMed) by 8.3% in the fourth 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 in the last quarter. Charles Schwab Investment Management Inc. grew its position in Mind Medicine (MindMed) by 1.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 191,874 shares of the company’s stock valued at $702,000 after acquiring an additional 3,338 shares in the last quarter. Finally, Mitchell Mcleod Pugh & Williams Inc. acquired a new stake in Mind Medicine (MindMed) in the fourth quarter valued at approximately $73,000. Institutional investors and hedge funds own 27.91% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on MNMD. HC Wainwright restated a “buy” rating and issued a $75.00 target price on shares of Mind Medicine (MindMed) in a report on Thursday, March 14th. Royal Bank of Canada upped their target price on shares of Mind Medicine (MindMed) from $14.00 to $15.00 and gave the company an “outperform” rating in a report on Thursday, February 29th. Finally, Canaccord Genuity Group started coverage on shares of Mind Medicine (MindMed) in a report on Tuesday, December 5th. They issued a “buy” rating and a $9.00 target price on the stock. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $24.83.

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 for the treatment of core symptoms of autism spectrum disorder.