Robert Barrow Sells 19,771 Shares of Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) Stock

Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) CEO Robert Barrow sold 19,771 shares of the company’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $5.98, for a total value of $118,230.58. Following the completion of the transaction, the chief executive officer now owns 545,772 shares of the company’s stock, valued at approximately $3,263,716.56. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

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

• On Monday, August 19th, Robert Barrow bought 500 shares of Mind Medicine (MindMed) stock. The shares were purchased at an average cost of $6.31 per share, for a total transaction of $3,155.00.

Mind Medicine (MindMed) Trading Down 1.2 %

NASDAQ:MNMD opened at $5.89 on Friday. Mind Medicine has a 52 week low of $2.41 and a 52 week high of $12.22. The company has a quick ratio of 5.92, a current ratio of 5.92 and a debt-to-equity ratio of 0.12. The company has a market cap of $423.33 million, a PE ratio of -2.00 and a beta of 2.53. The business’s 50 day moving average is $6.85 and its two-hundred day moving average is $8.01.

Mind Medicine (MindMed) (NASDAQ:MNMD) last released its quarterly earnings data on Tuesday, August 13th. The company reported ($0.48) EPS for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.18). On average, analysts predict that Mind Medicine will post -1.27 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Blackstone Inc. acquired a new stake in shares of Mind Medicine (MindMed) during the 1st quarter worth approximately $11,749,000. Janus Henderson Group PLC acquired a new stake in Mind Medicine (MindMed) in the first quarter worth $8,964,000. AWM Investment Company Inc. bought a new stake in Mind Medicine (MindMed) in the first quarter valued at $7,830,000. Bank of New York Mellon Corp boosted its holdings in shares of Mind Medicine (MindMed) by 472.7% during the second quarter. Bank of New York Mellon Corp now owns 246,208 shares of the company’s stock valued at $1,775,000 after acquiring an additional 203,216 shares during the period. Finally, Tidal Investments LLC bought a new position in shares of Mind Medicine (MindMed) during the first quarter worth about $1,698,000. 27.91% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MNMD has been the topic of several analyst reports. HC Wainwright lifted their price target on shares of Mind Medicine (MindMed) from $35.00 to $55.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Mind Medicine (MindMed) in a research report on Friday, June 21st. Roth Capital raised Mind Medicine (MindMed) to a “strong-buy” rating in a report on Wednesday, July 24th. Roth Mkm assumed coverage on Mind Medicine (MindMed) in a research note on Wednesday, July 24th. They set a “buy” rating and a $36.00 price objective for the company. Finally, Canaccord Genuity Group cut their target price on Mind Medicine (MindMed) from $16.00 to $14.00 and set a “buy” rating on the stock in a research report on Monday, September 16th. Ten analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, Mind Medicine (MindMed) currently has an average rating of “Buy” and a consensus 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.