Carrie Liao Sells 2,347 Shares of Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) Stock

Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) CAO Carrie Liao sold 2,347 shares of the stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $6.74, for a total value of $15,818.78. Following the sale, the chief accounting officer now directly owns 144,923 shares of the company’s stock, valued at $976,781.02. The trade was a 1.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Carrie Liao also recently made the following trade(s):

• On Thursday, December 26th, Carrie Liao sold 2,273 shares of Mind Medicine (MindMed) stock. The stock was sold at an average price of $7.43, for a total value of $16,888.39.

Mind Medicine (MindMed) Price Performance

Shares of MNMD stock traded down $0.20 during midday trading on Wednesday, reaching $6.58. 1,384,819 shares of the company traded hands, compared to its average volume of 1,421,332. The firm’s 50 day simple moving average is $7.29 and its two-hundred day simple moving average is $6.96. The firm has a market cap of $495.92 million, a PE 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 has a 1-year low of $5.03 and a 1-year high of $12.22.

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

Institutional Investors Weigh In On Mind Medicine (MindMed)

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Evercore ISI started coverage on shares of Mind Medicine (MindMed) in a research report on Tuesday, January 28th. They issued an “outperform” rating and a $23.00 price objective on the stock. Oppenheimer reiterated an “outperform” rating and set a $20.00 price target on shares of Mind Medicine (MindMed) in a research note on Tuesday, December 17th. Chardan Capital started coverage on shares of Mind Medicine (MindMed) in a research report on Friday, December 20th. They issued a “buy” rating and a $20.00 price objective for the company. Robert W. Baird lowered their price objective on Mind Medicine (MindMed) from $27.00 to $16.00 and set an “outperform” rating on the stock in a report on Friday, March 7th. Finally, HC Wainwright reissued a “buy” rating and set a $55.00 target price on shares of Mind Medicine (MindMed) in a research note on Friday, March 7th. Ten analysts have rated the stock with a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $25.11.

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.