SLT Holdings LLC Buys New Stake in Mind Medicine (MindMed) Inc. (NASDAQ:MNMD)

SLT Holdings LLC bought a new stake in Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 13,100 shares of the company’s stock, valued at approximately $91,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. State Street Corp increased its stake in Mind Medicine (MindMed) by 0.5% in the third quarter. State Street Corp now owns 1,814,829 shares of the company’s stock valued at $10,326,000 after acquiring an additional 9,782 shares during the period. Geode Capital Management LLC increased its stake in Mind Medicine (MindMed) by 10.8% in the third quarter. Geode Capital Management LLC now owns 1,677,702 shares of the company’s stock valued at $9,548,000 after acquiring an additional 162,933 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Mind Medicine (MindMed) by 8.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 602,544 shares of the company’s stock valued at $3,428,000 after acquiring an additional 46,187 shares during the period. Bank of New York Mellon Corp grew its stake in Mind Medicine (MindMed) by 5.4% during the fourth quarter. Bank of New York Mellon Corp now owns 200,121 shares of the company’s stock worth $1,393,000 after buying an additional 10,338 shares during the last quarter. Finally, Wellington Management Group LLP grew its stake in Mind Medicine (MindMed) by 142.6% during the third quarter. Wellington Management Group LLP now owns 185,722 shares of the company’s stock worth $1,057,000 after buying an additional 109,152 shares during the last quarter. Institutional investors own 27.91% of the company’s stock.

Mind Medicine (MindMed) Price Performance

Shares of MNMD stock opened at $6.83 on Friday. Mind Medicine has a 1 year low of $5.03 and a 1 year high of $12.22. The firm’s 50 day moving average is $7.42 and its 200-day moving average is $6.91. The firm has a market capitalization of $500.86 million, a price-to-earnings ratio of -3.02 and a beta of 2.57. The company has a current ratio of 9.00, a quick ratio of 9.00 and a debt-to-equity ratio of 0.09.

Mind Medicine (MindMed) (NASDAQ:MNMD) last announced its quarterly earnings data on Thursday, March 6th. The company reported ($0.41) earnings per share for the quarter, missing the consensus estimate of ($0.33) by ($0.08). During the same quarter last year, the business posted ($0.59) EPS. Sell-side analysts forecast that Mind Medicine will post -1.35 EPS for the current fiscal year.

Analysts Set New Price Targets

MNMD has been the topic of several research analyst reports. Evercore ISI initiated coverage on shares of Mind Medicine (MindMed) in a research note on Tuesday, January 28th. They set an “outperform” rating and a $23.00 price objective on the stock. Oppenheimer reaffirmed an “outperform” rating and set a $20.00 price objective on shares of Mind Medicine (MindMed) in a research note on Tuesday, December 17th. Robert W. Baird decreased their price objective on shares of Mind Medicine (MindMed) from $27.00 to $16.00 and set an “outperform” rating on the stock in a research note on Friday. HC Wainwright reaffirmed a “buy” rating and set a $55.00 price objective on shares of Mind Medicine (MindMed) in a research note on Friday. Finally, Chardan Capital assumed coverage on shares of Mind Medicine (MindMed) in a research note on Friday, December 20th. They set a “buy” rating and a $20.00 price objective on the stock. Ten equities research analysts have rated the stock with a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, Mind Medicine (MindMed) presently has a consensus rating of “Buy” and a consensus price target of $25.11.

Insider Activity at Mind Medicine (MindMed)

In related news, CEO Robert Barrow sold 19,106 shares of the stock in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $7.43, for a total value of $141,957.58. Following the transaction, the chief executive officer now directly owns 526,666 shares in the company, valued at $3,913,128.38. This represents a 3.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Dan Karlin sold 6,643 shares of the stock in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $7.43, for a total transaction of $49,357.49. Following the completion of the transaction, the insider now owns 338,013 shares in the company, valued at $2,511,436.59. This represents a 1.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 28,022 shares of company stock worth $208,203 over the last ninety days. Company insiders own 2.26% of the company’s stock.

About Mind Medicine (MindMed)

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.