Nuveen Asset Management LLC Acquires 8,856 Shares of Mind Medicine (MindMed) Inc. (NASDAQ:MNMD)

Nuveen Asset Management LLC raised its holdings in Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) by 3.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 286,334 shares of the company’s stock after purchasing an additional 8,856 shares during the quarter. Nuveen Asset Management LLC owned 0.39% of Mind Medicine (MindMed) worth $1,993,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the business. Diadema Partners LP bought a new position in shares of Mind Medicine (MindMed) during the 4th quarter worth $33,000. Hollencrest Capital Management grew its stake in shares of Mind Medicine (MindMed) by 10,833.3% during the 4th quarter. Hollencrest Capital Management now owns 7,216 shares of the company’s stock worth $50,000 after acquiring an additional 7,150 shares during the period. King Wealth Management Group bought a new position in shares of Mind Medicine (MindMed) during the 4th quarter worth $70,000. Virtus ETF Advisers LLC bought a new position in Mind Medicine (MindMed) in the 4th quarter worth about $70,000. Finally, Sharpepoint LLC bought a new position in Mind Medicine (MindMed) in the 4th quarter worth about $71,000. Institutional investors own 27.91% of the company’s stock.

Mind Medicine (MindMed) Trading Up 2.8%

NASDAQ MNMD opened at $7.69 on Wednesday. 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 has a twelve month low of $4.70 and a twelve month high of $10.44. The firm has a market capitalization of $581.00 million, a PE ratio of -3.40 and a beta of 2.52. The stock’s 50 day moving average is $6.29 and its 200 day moving average is $6.94.

Mind Medicine (MindMed) (NASDAQ:MNMD) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($0.35) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.01. Research analysts forecast that Mind Medicine will post -1.35 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have weighed in on MNMD. HC Wainwright reaffirmed a “buy” rating and issued a $55.00 price target on shares of Mind Medicine (MindMed) in a report on Friday, March 7th. Chardan Capital reissued a “buy” rating and set a $20.00 price objective on shares of Mind Medicine (MindMed) in a report on Friday, May 9th. Robert W. Baird reduced their price target on Mind Medicine (MindMed) from $27.00 to $16.00 and set an “outperform” rating on the stock in a research report on Friday, March 7th. Finally, Cantor Fitzgerald upgraded Mind Medicine (MindMed) to a “strong-buy” rating in a research report on Tuesday, May 13th. Nine equities research analysts have rated the stock with a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $25.11.

Insider Transactions at Mind Medicine (MindMed)

In other news, CEO Robert Barrow sold 21,208 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 transaction of $142,941.92. Following the sale, the chief executive officer now owns 856,556 shares in the company, valued at $5,773,187.44. This trade represents a 2.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Daniel Karlin sold 6,836 shares of the business’s stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $6.74, for a total transaction of $46,074.64. Following the completion of the sale, 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. Insiders sold 30,391 shares of company stock worth $204,835 over the last quarter. 2.45% of the stock is currently owned by 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.