Voya Investment Management LLC Trims Position in Mind Medicine (MindMed) Inc. $MNMD

Voya Investment Management LLC lessened its position in shares of Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) by 10.8% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 21,115 shares of the company’s stock after selling 2,551 shares during the quarter. Voya Investment Management LLC’s holdings in Mind Medicine (MindMed) were worth $124,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC increased its position in Mind Medicine (MindMed) by 32.8% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 13,550 shares of the company’s stock worth $94,000 after buying an additional 3,350 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Mind Medicine (MindMed) by 20.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 85,044 shares of the company’s stock worth $592,000 after buying an additional 14,691 shares in the last quarter. Rhumbline Advisers increased its position in Mind Medicine (MindMed) by 7.7% in the first quarter. Rhumbline Advisers now owns 108,457 shares of the company’s stock worth $634,000 after buying an additional 7,762 shares in the last quarter. Millennium Management LLC increased its position in Mind Medicine (MindMed) by 134.5% in the fourth quarter. Millennium Management LLC now owns 185,721 shares of the company’s stock worth $1,293,000 after buying an additional 106,511 shares in the last quarter. Finally, Ameriprise Financial Inc. purchased a new stake in Mind Medicine (MindMed) in the fourth quarter worth about $88,000. Hedge funds and other institutional investors own 27.91% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on MNMD. Chardan Capital restated a “buy” rating and issued a $20.00 price target on shares of Mind Medicine (MindMed) in a research report on Friday, August 1st. Oppenheimer began coverage on Mind Medicine (MindMed) in a research report on Monday, August 4th. They set an “outperform” rating and a $25.00 target price 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, the stock presently has an average rating of “Buy” and an average target price of $26.50.

Insider Activity at Mind Medicine (MindMed)

In related news, insider Daniel Karlin sold 7,704 shares of the stock in a transaction that occurred on Thursday, September 25th. The stock was sold at an average price of $9.77, for a total transaction of $75,268.08. Following the completion of the transaction, the insider directly owned 430,625 shares of the company’s stock, valued at approximately $4,207,206.25. This represents a 1.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Robert Barrow sold 25,797 shares of the stock in a transaction that occurred on Thursday, September 25th. The shares were sold at an average price of $9.77, for a total value of $252,036.69. Following the transaction, the chief executive officer directly owned 804,268 shares of the company’s stock, valued at approximately $7,857,698.36. The trade was a 3.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 44,779 shares of company stock valued at $437,491. Insiders own 2.45% of the company’s stock.

Mind Medicine (MindMed) Stock Performance

NASDAQ:MNMD opened at $12.33 on Thursday. The stock has a 50-day moving average price of $9.73 and a 200 day moving average price of $7.83. Mind Medicine has a 12-month low of $4.70 and a 12-month high of $12.70. The stock has a market capitalization of $938.19 million, a P/E ratio of -8.06 and a beta of 2.54. The company has a current ratio of 4.98, a quick ratio of 4.98 and a debt-to-equity ratio of 0.22.

Mind Medicine (MindMed) (NASDAQ:MNMD) last announced its quarterly earnings results on Thursday, July 31st. The company reported ($0.50) EPS for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.12). Equities research analysts forecast that Mind Medicine will post -1.35 EPS for the current fiscal year.

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.