Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) Director David W. Gryska Acquires 3,500 Shares

Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) Director David W. Gryska bought 3,500 shares of the stock in a transaction on Friday, August 23rd. The shares were bought at an average price of $5.98 per share, with a total value of $20,930.00. Following the acquisition, the director now owns 17,351 shares of the company’s stock, valued at $103,758.98. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Mind Medicine (MindMed) Stock Performance

Shares of MNMD stock opened at $6.12 on Tuesday. The business’s fifty day simple moving average is $7.46 and its 200-day simple moving average is $7.96. The company has a market cap of $439.86 million, a PE ratio of -2.08 and a beta of 2.58. The company has a current ratio of 3.91, a quick ratio of 3.91 and a debt-to-equity ratio of 0.07. Mind Medicine has a 12-month low of $2.41 and a 12-month high of $12.22.

Hedge Funds Weigh In On Mind Medicine (MindMed)

Large investors have recently made changes to their positions in the business. Bailard Inc. acquired a new position in shares of Mind Medicine (MindMed) in the 4th quarter valued at $63,000. Mitchell Mcleod Pugh & Williams Inc. acquired a new position in shares of Mind Medicine (MindMed) in the 4th quarter valued at $73,000. Jump Financial LLC increased its position in shares of 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 period. Scotia Capital Inc. acquired a new position in shares of Mind Medicine (MindMed) in the 4th quarter valued at $441,000. Finally, Sequoia Financial Advisors LLC acquired a new position in shares of Mind Medicine (MindMed) in the 1st quarter valued at $168,000. 27.91% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

MNMD has been the subject of a number of analyst reports. Robert W. Baird initiated coverage on Mind Medicine (MindMed) in a report on Tuesday, May 28th. They set an “outperform” rating and a $27.00 target price for the company. Roth Mkm initiated coverage on Mind Medicine (MindMed) in a report on Wednesday, July 24th. They set a “buy” rating and a $36.00 target price for the company. Baird R W upgraded Mind Medicine (MindMed) to a “strong-buy” rating in a report on Wednesday, May 29th. Oppenheimer restated an “outperform” rating and set a $20.00 target price (down previously from $29.00) on shares of Mind Medicine (MindMed) in a report on Monday, May 13th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Mind Medicine (MindMed) in a report on Friday, June 21st. Nine analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $24.14.

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.