XTX Topco Ltd Sells 6,595 Shares of Mind Medicine (MindMed) Inc. (NASDAQ:MNMD)

XTX Topco Ltd cut its stake in Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) by 18.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,544 shares of the company’s stock after selling 6,595 shares during the quarter. XTX Topco Ltd’s holdings in Mind Medicine (MindMed) were worth $173,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Mind Medicine (MindMed) by 6.1% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 28,867 shares of the company’s stock valued at $169,000 after purchasing an additional 1,669 shares during the period. Black Swift Group LLC bought a new position in shares of Mind Medicine (MindMed) in the first quarter valued at about $63,000. Cerity Partners LLC bought a new position in shares of Mind Medicine (MindMed) in the first quarter valued at about $284,000. Capital Advisors Inc. OK bought a new position in shares of Mind Medicine (MindMed) in the first quarter valued at about $292,000. Finally, Oppenheimer & Co. Inc. raised its position in shares of Mind Medicine (MindMed) by 8.5% in the first quarter. Oppenheimer & Co. Inc. now owns 71,115 shares of the company’s stock valued at $416,000 after purchasing an additional 5,574 shares during the period. 27.91% of the stock is owned by institutional investors.

Mind Medicine (MindMed) Price Performance

NASDAQ:MNMD opened at $9.97 on Thursday. Mind Medicine has a 52 week low of $4.70 and a 52 week high of $10.49. The firm has a market cap of $758.62 million, a price-to-earnings ratio of -6.52 and a beta of 2.49. The firm’s 50-day simple moving average is $8.22 and its 200 day simple moving average is $7.27. The company has a debt-to-equity ratio of 0.22, a quick ratio of 4.98 and a current ratio of 4.98.

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

Insider Buying and Selling at Mind Medicine (MindMed)

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

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Chardan Capital reaffirmed a “buy” rating and set a $20.00 price target on shares of Mind Medicine (MindMed) in a research report on Friday, August 1st. Cantor Fitzgerald raised shares of Mind Medicine (MindMed) to a “strong-buy” rating in a research report on Tuesday, May 13th. Finally, Oppenheimer assumed coverage on shares of Mind Medicine (MindMed) in a research report on Monday, August 4th. They set an “outperform” rating and a $25.00 price target on the stock. Seven equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $24.71.

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.