Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) Shares Bought by JPMorgan Chase & Co.

JPMorgan Chase & Co. increased its position in Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) by 30.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 48,158 shares of the company’s stock after buying an additional 11,163 shares during the quarter. JPMorgan Chase & Co. owned about 0.07% of Mind Medicine (MindMed) worth $335,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of MNMD. Corebridge Financial Inc. raised its position in Mind Medicine (MindMed) by 4.1% in the fourth quarter. Corebridge Financial Inc. now owns 40,064 shares of the company’s stock worth $279,000 after acquiring an additional 1,569 shares in the last quarter. Commonwealth Equity Services LLC raised its holdings in shares of Mind Medicine (MindMed) by 9.9% in the 4th quarter. Commonwealth Equity Services LLC now owns 21,492 shares of the company’s stock worth $150,000 after purchasing an additional 1,928 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in Mind Medicine (MindMed) by 21.9% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 12,430 shares of the company’s stock valued at $87,000 after purchasing an additional 2,230 shares during the last quarter. Teacher Retirement System of Texas boosted its holdings in Mind Medicine (MindMed) by 19.1% during the fourth quarter. Teacher Retirement System of Texas now owns 18,205 shares of the company’s stock worth $127,000 after buying an additional 2,915 shares in the last quarter. Finally, Rhumbline Advisers grew its position in Mind Medicine (MindMed) by 5.1% in the fourth quarter. Rhumbline Advisers now owns 100,695 shares of the company’s stock worth $701,000 after buying an additional 4,868 shares during the last quarter. Institutional investors and hedge funds own 27.91% of the company’s stock.

Mind Medicine (MindMed) Price Performance

NASDAQ MNMD opened at $6.93 on Friday. The company has a debt-to-equity ratio of 0.09, a current ratio of 9.00 and a quick ratio of 9.00. The firm has a market capitalization of $522.30 million, a price-to-earnings ratio of -3.07 and a beta of 2.54. The company has a 50 day simple moving average of $6.13 and a 200-day simple moving average of $6.94. Mind Medicine has a 52-week low of $4.70 and a 52-week high of $10.44.

Mind Medicine (MindMed) (NASDAQ:MNMD) last released its earnings results on Thursday, March 6th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.08). During the same period in the prior year, the firm posted ($0.59) EPS. Equities research analysts predict that Mind Medicine will post -1.35 earnings per share for the current fiscal year.

Insider Activity at Mind Medicine (MindMed)

In other news, CEO Robert Barrow sold 21,208 shares of Mind Medicine (MindMed) stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $6.74, for a total transaction of $142,941.92. Following the completion of the sale, the chief executive officer now directly owns 856,556 shares in the company, valued at $5,773,187.44. The trade was a 2.42 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Daniel Karlin sold 6,836 shares of the stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $6.74, for a total value of $46,074.64. Following the completion of the transaction, the insider now owns 446,177 shares in the company, valued at $3,007,232.98. This represents a 1.51 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 30,391 shares of company stock valued at $204,835. Insiders own 2.26% of the company’s stock.

Analysts Set New Price Targets

MNMD has been the subject of a number of recent research reports. Evercore ISI began coverage on Mind Medicine (MindMed) in a research report on Tuesday, January 28th. They set an “outperform” rating and a $23.00 price objective for the company. Robert W. Baird decreased their price target on Mind Medicine (MindMed) from $27.00 to $16.00 and set an “outperform” rating for the company in a research report on Friday, March 7th. Finally, HC Wainwright restated a “buy” rating and set a $55.00 price objective on shares of Mind Medicine (MindMed) in a report on Friday, March 7th. Ten research analysts have rated the stock with a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, Mind Medicine (MindMed) presently has a consensus rating of “Buy” and a consensus target price of $25.11.

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.