Goldman Sachs Group Inc. Has $1.12 Million Position in Mind Medicine (MindMed) Inc. $MNMD

Goldman Sachs Group Inc. lessened its holdings in Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) by 35.2% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 192,195 shares of the company’s stock after selling 104,611 shares during the period. Goldman Sachs Group Inc. owned approximately 0.25% of Mind Medicine (MindMed) worth $1,124,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of MNMD. Black Swift Group LLC acquired a new stake in shares of Mind Medicine (MindMed) during the first quarter worth approximately $63,000. CreativeOne Wealth LLC acquired a new position in shares of Mind Medicine (MindMed) in the 1st quarter valued at $67,000. Blair William & Co. IL acquired a new position in shares of Mind Medicine (MindMed) in the 1st quarter valued at $73,000. BNP Paribas Financial Markets acquired a new position in shares of Mind Medicine (MindMed) in the 4th quarter valued at approximately $74,000. Finally, Summit Securities Group LLC acquired a new position in Mind Medicine (MindMed) in the 1st quarter worth $81,000. 27.91% of the stock is currently owned by institutional investors and hedge funds.

Mind Medicine (MindMed) Price Performance

Shares of NASDAQ:MNMD opened at $9.04 on Monday. The firm’s fifty day moving average is $9.45 and its 200-day moving average is $7.61. 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 cap of $687.85 million, a PE ratio of -5.91 and a beta of 2.49. Mind Medicine has a 52 week low of $4.70 and a 52 week high of $11.02.

Mind Medicine (MindMed) (NASDAQ:MNMD) last posted its quarterly earnings data on Thursday, July 31st. The company reported ($0.50) EPS for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.12). Sell-side analysts predict that Mind Medicine will post -1.35 earnings per share for the current year.

Insider Transactions at Mind Medicine (MindMed)

In other news, insider Mark Sullivan sold 11,491 shares of the company’s stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $6.80, for a total transaction of $78,138.80. Following the transaction, the insider directly owned 305,130 shares of the company’s stock, valued at $2,074,884. This represents a 3.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Robert Barrow sold 26,491 shares of the company’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 $180,138.80. Following the completion of the sale, the chief executive officer owned 830,065 shares in the company, valued at $5,644,442. This represents a 3.09% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 45,830 shares of company stock valued at $311,644 over the last ninety days. 2.26% of the stock is owned by company insiders.

Analysts Set New Price Targets

MNMD has been the subject of a number of recent research reports. 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. Oppenheimer initiated coverage on Mind Medicine (MindMed) in a report on Monday, August 4th. They set an “outperform” rating and a $25.00 price target for the company. Two analysts have rated the stock with a Strong Buy rating and six have assigned a Buy rating to the stock. Based on data from MarketBeat.com, Mind Medicine (MindMed) has an average rating of “Buy” and an average target price of $26.50.

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.