Robert Barrow Sells 19,106 Shares of Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) Stock

Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) CEO Robert Barrow sold 19,106 shares of the stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $7.43, for a total transaction of $141,957.58. Following the sale, the chief executive officer now owns 526,666 shares of the company’s stock, valued at $3,913,128.38. This trade represents a 3.50 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Mind Medicine (MindMed) Trading Down 10.4 %

Mind Medicine (MindMed) stock traded down $0.79 during trading hours on Friday, reaching $6.84. 1,788,905 shares of the company’s stock traded hands, compared to its average volume of 1,424,540. The firm has a market capitalization of $501.59 million, a price-to-earnings ratio of -3.03 and a beta of 2.58. The company has a debt-to-equity ratio of 0.09, a quick ratio of 9.00 and a current ratio of 9.00. Mind Medicine has a fifty-two week low of $3.49 and a fifty-two week high of $12.22. The firm’s 50 day moving average is $7.24 and its 200-day moving average is $6.98.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Leerink Partnrs raised shares of Mind Medicine (MindMed) to a “strong-buy” rating in a report on Friday, October 11th. Leerink Partners began coverage on Mind Medicine (MindMed) in a research note on Monday, October 14th. They issued an “outperform” rating and a $20.00 price objective on the stock. HC Wainwright restated a “buy” rating and issued a $55.00 target price on shares of Mind Medicine (MindMed) in a research note on Monday, November 11th. Oppenheimer reiterated an “outperform” rating and set a $20.00 price target on shares of Mind Medicine (MindMed) in a research report on Tuesday, December 17th. Finally, Canaccord Genuity Group lowered their price objective on shares of Mind Medicine (MindMed) from $16.00 to $14.00 and set a “buy” rating for the company in a research report on Monday, September 16th. Nine 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 company currently has an average rating of “Buy” and a consensus price target of $26.75.

Hedge Funds Weigh In On Mind Medicine (MindMed)

Large investors have recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC acquired a new stake in Mind Medicine (MindMed) during the 3rd quarter worth $58,000. Bridgewealth Advisory Group LLC bought a new stake in Mind Medicine (MindMed) in the second quarter valued at about $72,000. Wealth Alliance bought a new stake in Mind Medicine (MindMed) in the second quarter valued at about $79,000. Sanctuary Advisors LLC acquired a new position in Mind Medicine (MindMed) in the third quarter valued at about $91,000. Finally, SG Americas Securities LLC bought a new position in Mind Medicine (MindMed) during the third quarter worth about $93,000. 27.91% of the stock is currently owned by institutional investors and hedge funds.

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.