Blair William & Co. IL Invests $73,000 in Mind Medicine (MindMed) Inc. (NASDAQ:MNMD)

Blair William & Co. IL purchased a new position in Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 12,500 shares of the company’s stock, valued at approximately $73,000.

Other hedge funds have also recently modified their holdings of the company. Diadema Partners LP purchased a new position in shares of Mind Medicine (MindMed) in the fourth quarter worth $33,000. Black Swift Group LLC purchased a new position in shares of Mind Medicine (MindMed) in the first quarter worth $63,000. Virtus ETF Advisers LLC purchased a new position in shares of Mind Medicine (MindMed) in the fourth quarter worth $70,000. Sharpepoint LLC purchased a new position in shares of Mind Medicine (MindMed) in the fourth quarter worth $71,000. Finally, Bank of Montreal Can purchased a new position in shares of Mind Medicine (MindMed) in the fourth quarter worth $74,000. Hedge funds and other institutional investors own 27.91% of the company’s stock.

Insider Buying and Selling at Mind Medicine (MindMed)

In other Mind Medicine (MindMed) news, insider Mark Sullivan sold 11,491 shares of the business’s stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $6.80, for a total transaction of $78,138.80. Following the completion of the sale, the insider owned 305,130 shares of the company’s stock, valued at approximately $2,074,884. The trade was a 3.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Robert Barrow sold 26,491 shares of the business’s stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $6.80, for a total value of $180,138.80. Following the sale, the chief executive officer directly owned 830,065 shares of the company’s stock, valued at $5,644,442. This represents a 3.09% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 45,830 shares of company stock valued at $311,644. Company insiders own 2.45% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Oppenheimer started coverage on Mind Medicine (MindMed) in a research note on Monday, August 4th. They issued an “outperform” rating and a $25.00 price target for the company. Chardan Capital reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Mind Medicine (MindMed) in a report on Friday, August 1st. Finally, Cantor Fitzgerald raised Mind Medicine (MindMed) to a “strong-buy” rating in a report on Tuesday, May 13th. Seven analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $24.71.

Mind Medicine (MindMed) Stock Performance

NASDAQ:MNMD opened at $9.97 on Thursday. The stock has a 50-day simple moving average of $8.22 and a two-hundred day simple moving average of $7.27. Mind Medicine has a 52-week low of $4.70 and a 52-week high of $10.49. The company has a debt-to-equity ratio of 0.22, a quick ratio of 4.98 and a current ratio of 4.98. The firm has a market capitalization of $758.62 million, a PE ratio of -6.52 and a beta of 2.49.

Mind Medicine (MindMed) (NASDAQ:MNMD) last released its quarterly earnings results on Thursday, July 31st. The company reported ($0.50) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.38) by ($0.12). Analysts forecast that Mind Medicine will post -1.35 EPS for the current year.

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.