Insider Selling: Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) CAO Sells 2,352 Shares of Stock

Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) CAO Carrie Liao sold 2,352 shares of the business’s stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $5.98, for a total transaction of $14,064.96. Following the sale, the chief accounting officer now directly owns 99,543 shares in the company, valued at approximately $595,267.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Mind Medicine (MindMed) Price Performance

Shares of MNMD traded down $0.10 during trading hours on Wednesday, reaching $5.96. 588,328 shares of the company traded hands, compared to its average volume of 1,506,363. The stock has a fifty day simple moving average of $6.94 and a 200 day simple moving average of $8.04. Mind Medicine has a fifty-two week low of $2.41 and a fifty-two week high of $12.22. The stock has a market capitalization of $428.36 million, a PE ratio of -2.06 and a beta of 2.53. The company has a quick ratio of 5.92, a current ratio of 5.92 and a debt-to-equity ratio of 0.12.

Mind Medicine (MindMed) (NASDAQ:MNMD) last issued its quarterly earnings results on Tuesday, August 13th. The company reported ($0.48) EPS for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.18). As a group, research analysts predict that Mind Medicine will post -1.27 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on MNMD. Royal Bank of Canada reiterated an “outperform” rating and set a $22.00 price target on shares of Mind Medicine (MindMed) in a research report on Wednesday, June 5th. Canaccord Genuity Group reduced their price objective on Mind Medicine (MindMed) from $16.00 to $14.00 and set a “buy” rating for the company in a report on Monday, September 16th. HC Wainwright upped their target price on Mind Medicine (MindMed) from $35.00 to $55.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Baird R W upgraded Mind Medicine (MindMed) to a “strong-buy” rating in a research report on Wednesday, May 29th. Finally, Robert W. Baird assumed coverage on shares of Mind Medicine (MindMed) in a research report on Tuesday, May 28th. They issued an “outperform” rating and a $27.00 price objective on the stock. Ten equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $25.38.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of MNMD. Jump Financial LLC lifted its holdings in shares of Mind Medicine (MindMed) by 8.3% during the 4th quarter. Jump Financial LLC now owns 36,826 shares of the company’s stock worth $135,000 after acquiring an additional 2,826 shares during the period. Scotia Capital Inc. purchased a new position in Mind Medicine (MindMed) during the fourth quarter worth approximately $441,000. Sequoia Financial Advisors LLC acquired a new position in shares of Mind Medicine (MindMed) in the 1st quarter valued at $168,000. Moloney Securities Asset Management LLC grew its stake in shares of Mind Medicine (MindMed) by 133.0% during the 1st quarter. Moloney Securities Asset Management LLC now owns 161,961 shares of the company’s stock valued at $1,522,000 after buying an additional 92,450 shares during the period. Finally, SageView Advisory Group LLC acquired a new stake in shares of Mind Medicine (MindMed) during the 1st quarter worth $25,000. 27.91% of the stock is currently owned by institutional investors and hedge funds.

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.