Carrie Liao Sells 2,352 Shares of Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) Stock

Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) CAO Carrie Liao sold 2,352 shares of the firm’s stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $5.98, for a total value of $14,064.96. Following the completion of the sale, the chief accounting officer now directly owns 99,543 shares of the company’s stock, valued at $595,267.14. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Mind Medicine (MindMed) Stock Performance

Mind Medicine (MindMed) stock opened at $5.89 on Friday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 5.92 and a current ratio of 5.92. Mind Medicine has a fifty-two week low of $2.41 and a fifty-two week high of $12.22. The stock has a fifty day moving average of $6.85 and a two-hundred day moving average of $8.01. The company has a market capitalization of $423.33 million, a price-to-earnings ratio of -2.00 and a beta of 2.53.

Mind Medicine (MindMed) (NASDAQ:MNMD) last announced its earnings results on Tuesday, August 13th. The company reported ($0.48) earnings per share for the quarter, missing the consensus estimate of ($0.30) by ($0.18). On average, analysts anticipate that Mind Medicine will post -1.27 EPS for the current fiscal year.

Hedge Funds Weigh In On Mind Medicine (MindMed)

A number of institutional investors have recently modified their holdings of MNMD. SageView Advisory Group LLC purchased a new stake in Mind Medicine (MindMed) in the 1st quarter worth approximately $25,000. Bridgewealth Advisory Group LLC purchased a new stake in shares of Mind Medicine (MindMed) in the second quarter valued at $72,000. Wealth Alliance acquired a new position in Mind Medicine (MindMed) in the second quarter valued at $79,000. Arizona State Retirement System acquired a new position in Mind Medicine (MindMed) in the second quarter valued at $114,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in Mind Medicine (MindMed) during the second quarter worth about $131,000. Institutional investors and hedge funds own 27.91% of the company’s stock.

Wall Street Analysts Forecast Growth

MNMD has been the subject of a number of recent analyst reports. Roth Mkm started coverage on Mind Medicine (MindMed) in a report on Wednesday, July 24th. They issued a “buy” rating and a $36.00 target price for the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $22.00 price objective on shares of Mind Medicine (MindMed) in a research note on Wednesday, June 5th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Mind Medicine (MindMed) in a report on Friday, June 21st. Roth Capital upgraded Mind Medicine (MindMed) to a “strong-buy” rating in a report on Wednesday, July 24th. Finally, Canaccord Genuity Group reduced their price objective on Mind Medicine (MindMed) from $16.00 to $14.00 and set a “buy” rating for the company in a report on Monday, September 16th. Ten research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $25.38.

Mind Medicine (MindMed) Company 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.