Dan Karlin Sells 6,925 Shares of Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) Stock

Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) insider Dan Karlin sold 6,925 shares of Mind Medicine (MindMed) stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $7.22, for a total transaction of $49,998.50. Following the sale, the insider now owns 351,527 shares of the company’s stock, valued at $2,538,024.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Mind Medicine (MindMed) Stock Down 0.3 %

Shares of MNMD stock opened at $7.25 on Friday. The company has a quick ratio of 3.91, a current ratio of 3.91 and a debt-to-equity ratio of 0.07. Mind Medicine has a fifty-two week low of $2.41 and a fifty-two week high of $12.22. The firm’s 50 day moving average price is $8.33 and its two-hundred day moving average price is $6.82.

Mind Medicine (MindMed) (NASDAQ:MNMD) last announced its quarterly earnings results on Wednesday, May 8th. The company reported ($0.60) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.66) by $0.06. Research analysts predict that Mind Medicine will post -1.36 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. SageView Advisory Group LLC acquired a new position in Mind Medicine (MindMed) during the first quarter valued at approximately $25,000. Jump Financial LLC lifted its position in shares of Mind Medicine (MindMed) by 8.3% during the fourth quarter. Jump Financial LLC now owns 36,826 shares of the company’s stock worth $135,000 after purchasing an additional 2,826 shares in the last quarter. Bailard Inc. acquired a new position in shares of Mind Medicine (MindMed) during the fourth quarter worth $63,000. Sequoia Financial Advisors LLC acquired a new position in shares of Mind Medicine (MindMed) during the first quarter worth $168,000. Finally, Mitchell Mcleod Pugh & Williams Inc. acquired a new position in shares of Mind Medicine (MindMed) during the fourth quarter worth $73,000. 27.91% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MNMD has been the subject of a number of recent research reports. Cantor Fitzgerald reiterated an “overweight” rating on shares of Mind Medicine (MindMed) in a report on Friday, June 21st. HC Wainwright reissued a “buy” rating and issued a $35.00 target price on shares of Mind Medicine (MindMed) in a research report on Friday, May 24th. SVB Leerink started coverage on shares of Mind Medicine (MindMed) in a research report on Monday, April 15th. They issued an “outperform” rating and a $20.00 target price on the stock. Leerink Partnrs reissued an “outperform” rating on shares of Mind Medicine (MindMed) in a research report on Monday, April 15th. Finally, Robert W. Baird started coverage on shares of Mind Medicine (MindMed) in a research report on Tuesday, May 28th. They issued an “outperform” rating and a $27.00 target price on the stock. Eight investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $20.00.

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.