Mind Medicine (MindMed) (NASDAQ:MNMD) CEO Robert Barrow Sells 25,791 Shares of Stock

Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) CEO Robert Barrow sold 25,791 shares of the business’s stock in a transaction on Friday, December 26th. The shares were sold at an average price of $13.15, for a total transaction of $339,151.65. Following the sale, the chief executive officer directly owned 778,477 shares in the company, valued at approximately $10,236,972.55. This trade represents a 3.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Mind Medicine (MindMed) Stock Performance

Shares of MNMD stock opened at $13.46 on Tuesday. Mind Medicine has a 1-year low of $4.70 and a 1-year high of $14.43. The company has a current ratio of 3.30, a quick ratio of 3.30 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $1.33 billion, a price-to-earnings ratio of -6.60 and a beta of 2.57. The stock’s fifty day simple moving average is $12.33 and its 200-day simple moving average is $10.47.

Mind Medicine (MindMed) (NASDAQ:MNMD) last announced its quarterly earnings data on Thursday, November 6th. The company reported ($0.78) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.52) by ($0.26). On average, sell-side analysts predict that Mind Medicine will post -1.35 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Jones Trading initiated coverage on shares of Mind Medicine (MindMed) in a research note on Tuesday, December 23rd. They issued a “buy” rating and a $61.00 price objective on the stock. Needham & Company LLC set a $28.00 price target on shares of Mind Medicine (MindMed) and gave the stock a “buy” rating in a research note on Monday, October 13th. Canaccord Genuity Group lifted their price objective on Mind Medicine (MindMed) from $16.00 to $25.00 and gave the company a “buy” rating in a research report on Friday, November 7th. Royal Bank Of Canada lowered their target price on Mind Medicine (MindMed) from $21.00 to $20.00 and set an “outperform” rating on the stock in a research note on Friday, November 7th. Finally, Chardan Capital raised Mind Medicine (MindMed) to a “strong-buy” rating in a research note on Wednesday, November 19th. Three investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $30.33.

Institutional Investors Weigh In On Mind Medicine (MindMed)

A number of large investors have recently bought and sold shares of MNMD. Commodore Capital LP raised its holdings in Mind Medicine (MindMed) by 10.5% during the second quarter. Commodore Capital LP now owns 5,000,000 shares of the company’s stock valued at $32,450,000 after buying an additional 475,000 shares in the last quarter. Marshall Wace LLP increased its holdings in shares of Mind Medicine (MindMed) by 31.9% during the 2nd quarter. Marshall Wace LLP now owns 3,421,224 shares of the company’s stock valued at $22,204,000 after acquiring an additional 828,067 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Mind Medicine (MindMed) by 11.0% in the 3rd quarter. Vanguard Group Inc. now owns 2,012,874 shares of the company’s stock valued at $23,732,000 after acquiring an additional 198,878 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Mind Medicine (MindMed) by 4.0% in the 2nd quarter. Geode Capital Management LLC now owns 1,733,454 shares of the company’s stock worth $11,252,000 after purchasing an additional 66,663 shares during the last quarter. Finally, AWM Investment Company Inc. lifted its holdings in Mind Medicine (MindMed) by 0.6% in the 2nd quarter. AWM Investment Company Inc. now owns 1,215,662 shares of the company’s stock worth $7,890,000 after purchasing an additional 7,500 shares during the last quarter. 27.91% of the stock is currently owned by institutional investors.

Mind Medicine (MindMed) Company Profile

Mind Medicine (MindMed) is a clinical-stage biopharmaceutical company focused on developing psychedelic-inspired therapies to address a range of mental health and neurological disorders. The company applies traditional drug development techniques to molecules derived from psychedelic compounds, with an emphasis on safety, efficacy and scalable manufacturing. Its research and development activities span small-molecule analogues, novel formulations and digital therapeutics designed to enhance or support pharmacological interventions.

The company’s lead development programs include MM-120, an investigational low-dose LSD formulation intended for treatment of anxiety; MM-310, an ibogaine-derived non-hallucinogenic compound targeting opioid withdrawal and addiction; and MM-402, a proprietary 5-MeO-DMT receptor agonist for mood and stress-related indications.