Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) Shares Acquired by MetLife Investment Management LLC

MetLife Investment Management LLC boosted its stake in Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) by 16.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,662 shares of the company’s stock after acquiring an additional 7,113 shares during the period. MetLife Investment Management LLC owned 0.07% of Mind Medicine (MindMed) worth $346,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in MNMD. Barclays PLC raised its stake in shares of Mind Medicine (MindMed) by 203.6% in the 3rd quarter. Barclays PLC now owns 136,098 shares of the company’s stock valued at $775,000 after purchasing an additional 91,271 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Mind Medicine (MindMed) by 8.2% during the third quarter. JPMorgan Chase & Co. now owns 36,995 shares of the company’s stock valued at $211,000 after buying an additional 2,797 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in Mind Medicine (MindMed) by 21.9% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 12,430 shares of the company’s stock worth $87,000 after buying an additional 2,230 shares during the last quarter. SG Americas Securities LLC grew its position in shares of Mind Medicine (MindMed) by 48.8% in the 4th quarter. SG Americas Securities LLC now owns 24,406 shares of the company’s stock worth $170,000 after acquiring an additional 8,004 shares in the last quarter. Finally, Foundations Investment Advisors LLC bought a new stake in shares of Mind Medicine (MindMed) in the 4th quarter valued at approximately $91,000. 27.91% of the stock is currently owned by institutional investors.

Insider Transactions at Mind Medicine (MindMed)

In other news, CEO Robert Barrow sold 21,208 shares of the company’s stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $6.74, for a total value of $142,941.92. Following the completion of the sale, the chief executive officer now directly owns 856,556 shares of the company’s stock, valued at approximately $5,773,187.44. This represents a 2.42 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Daniel Karlin sold 6,836 shares of the firm’s stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $6.74, for a total transaction of $46,074.64. Following 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 quarter, insiders sold 30,391 shares of company stock valued at $204,835. 2.26% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

MNMD has been the topic of several research analyst reports. Robert W. Baird reduced their price objective on Mind Medicine (MindMed) from $27.00 to $16.00 and set an “outperform” rating on the stock in a research note on Friday, March 7th. Evercore ISI initiated coverage on shares of Mind Medicine (MindMed) in a research report on Tuesday, January 28th. They issued an “outperform” rating and a $23.00 price target on the stock. Finally, HC Wainwright reaffirmed a “buy” rating and set a $55.00 price objective on shares of Mind Medicine (MindMed) in a research report 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 company’s stock. According to data from MarketBeat.com, Mind Medicine (MindMed) presently has a consensus rating of “Buy” and a consensus price target of $25.11.

Mind Medicine (MindMed) Trading Down 3.6 %

Mind Medicine (MindMed) stock opened at $6.32 on Wednesday. The firm has a 50-day moving average price of $6.12 and a two-hundred day moving average price of $6.95. Mind Medicine has a 52-week low of $4.70 and a 52-week high of $10.44. The firm has a market capitalization of $475.95 million, a price-to-earnings ratio of -2.79 and a beta of 2.52. The company has a quick ratio of 9.00, a current ratio of 9.00 and a debt-to-equity ratio of 0.09.

Mind Medicine (MindMed) (NASDAQ:MNMD) last issued its quarterly earnings data 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 last year, the company earned ($0.59) earnings per share. Sell-side analysts expect that Mind Medicine will post -1.35 earnings per share for the current year.

Mind Medicine (MindMed) 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.