Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) CEO Sells $142,941.92 in Stock

Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) CEO Robert Barrow sold 21,208 shares of the stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $6.74, for a total transaction of $142,941.92. Following the completion of the transaction, the chief executive officer now directly owns 856,556 shares of the company’s stock, valued at approximately $5,773,187.44. The trade was a 2.42 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Robert Barrow also recently made the following trade(s):

• On Thursday, December 26th, Robert Barrow sold 19,106 shares of Mind Medicine (MindMed) stock. The stock was sold at an average price of $7.43, for a total transaction of $141,957.58.

Mind Medicine (MindMed) Trading Down 2.9 %

Shares of MNMD traded down $0.20 during trading hours on Wednesday, hitting $6.58. 1,384,819 shares of the stock were exchanged, compared to its average volume of 1,421,332. Mind Medicine has a fifty-two week low of $5.03 and a fifty-two week high of $12.22. The business has a 50-day moving average of $7.29 and a 200-day moving average of $6.96. The firm has a market capitalization of $495.92 million, a P/E ratio of -2.91 and a beta of 2.57. The company has a debt-to-equity ratio of 0.09, a current ratio of 9.00 and a quick ratio of 9.00.

Mind Medicine (MindMed) (NASDAQ:MNMD) last issued its quarterly earnings results on Thursday, March 6th. The company reported ($0.41) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.08). During the same period in the previous year, the business posted ($0.59) earnings per share. On average, research analysts expect that Mind Medicine will post -1.35 EPS for the current year.

Wall Street Analyst Weigh In

MNMD has been the topic of a number of research reports. Chardan Capital assumed coverage on Mind Medicine (MindMed) in a research report on Friday, December 20th. They set a “buy” rating and a $20.00 price objective on the stock. Evercore ISI began coverage on Mind Medicine (MindMed) in a research note on Tuesday, January 28th. They issued an “outperform” rating and a $23.00 price objective for the company. Robert W. Baird cut their target price on shares of Mind Medicine (MindMed) from $27.00 to $16.00 and set an “outperform” rating on the stock in a research report on Friday, March 7th. HC Wainwright restated a “buy” rating and issued a $55.00 price target on shares of Mind Medicine (MindMed) in a research report on Friday, March 7th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $20.00 price target on shares of Mind Medicine (MindMed) in a research note on Tuesday, December 17th. Ten research analysts have rated the stock with a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $25.11.

Institutional Investors Weigh In On Mind Medicine (MindMed)

Several large investors have recently added to or reduced their stakes in MNMD. Diadema Partners LP acquired a new stake in shares of Mind Medicine (MindMed) during the 4th quarter worth approximately $33,000. Hollencrest Capital Management boosted its stake in Mind Medicine (MindMed) by 10,833.3% during the fourth quarter. Hollencrest Capital Management now owns 7,216 shares of the company’s stock worth $50,000 after acquiring an additional 7,150 shares in the last quarter. King Wealth Management Group acquired a new stake in Mind Medicine (MindMed) in the fourth quarter worth $70,000. Virtus ETF Advisers LLC bought a new stake in Mind Medicine (MindMed) in the fourth quarter valued at $70,000. Finally, Sharpepoint LLC acquired a new position in shares of Mind Medicine (MindMed) during the fourth quarter valued at about $71,000. Institutional investors and hedge funds own 27.91% 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.