MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Acquires 6,182 Shares of Mind Medicine (MindMed) Inc. (NASDAQ:MNMD)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) by 15.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,690 shares of the company’s stock after acquiring an additional 6,182 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 0.06% of Mind Medicine (MindMed) worth $318,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of MNMD. Marshall Wace LLP increased its stake in shares of Mind Medicine (MindMed) by 9.3% in the 4th quarter. Marshall Wace LLP now owns 2,501,391 shares of the company’s stock worth $17,410,000 after acquiring an additional 213,526 shares in the last quarter. Allostery Investments LP bought a new position in shares of Mind Medicine (MindMed) in the 4th quarter worth about $905,000. Wealthfront Advisers LLC bought a new position in shares of Mind Medicine (MindMed) in the 4th quarter worth about $717,000. Northern Trust Corp increased its stake in shares of Mind Medicine (MindMed) by 12.6% in the 4th quarter. Northern Trust Corp now owns 684,836 shares of the company’s stock worth $4,766,000 after acquiring an additional 76,559 shares in the last quarter. Finally, BIT Capital GmbH bought a new position in shares of Mind Medicine (MindMed) in the 4th quarter worth about $441,000. 27.91% of the stock is currently owned by institutional investors.

Mind Medicine (MindMed) Stock Performance

Shares of MNMD stock opened at $7.20 on Friday. The company has a 50 day moving average price of $6.24 and a 200-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 $543.98 million, a PE ratio of -3.19 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 announced its quarterly earnings results on Thursday, May 8th. The company reported ($0.35) EPS for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.01. As a group, equities research analysts expect that Mind Medicine will post -1.35 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Robert W. Baird reduced their price objective on shares of Mind Medicine (MindMed) from $27.00 to $16.00 and set an “outperform” rating for the company in a research note on Friday, March 7th. Chardan Capital restated a “buy” rating and set a $20.00 price objective on shares of Mind Medicine (MindMed) in a research note on Friday, May 9th. HC Wainwright restated a “buy” rating and set a $55.00 price objective on shares of Mind Medicine (MindMed) in a research note on Friday, March 7th. Finally, Cantor Fitzgerald upgraded shares of Mind Medicine (MindMed) to a “strong-buy” rating in a research note on Tuesday, May 13th. Nine research analysts have rated the stock with a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Mind Medicine (MindMed) currently has a consensus rating of “Buy” and an average target price of $25.11.

Insider Transactions at Mind Medicine (MindMed)

In other news, insider Daniel Karlin sold 6,836 shares of Mind Medicine (MindMed) 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 $46,074.64. Following the completion of the sale, the insider now directly owns 446,177 shares in the company, valued at $3,007,232.98. The trade was a 1.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Robert Barrow sold 21,208 shares of the business’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 $142,941.92. Following the sale, the chief executive officer now owns 856,556 shares of the company’s stock, valued at $5,773,187.44. This trade represents a 2.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 30,391 shares of company stock worth $204,835 over the last three months. 2.45% of the stock is currently owned by company insiders.

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.