Insider Selling: Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) CEO Sells 16,519 Shares of Stock

Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) CEO Robert Barrow sold 16,519 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $9.50, for a total transaction of $156,930.50. Following the sale, the chief executive officer now owns 580,202 shares in the company, valued at approximately $5,511,919. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Mind Medicine (MindMed) Trading Down 1.1 %

Mind Medicine (MindMed) stock opened at $9.40 on Friday. The stock has a market cap of $388.54 million, a P/E ratio of -3.84 and a beta of 2.65. The company has a debt-to-equity ratio of 0.18, a current ratio of 3.22 and a quick ratio of 3.22. Mind Medicine has a 1 year low of $2.41 and a 1 year high of $11.10. The firm’s 50 day moving average price is $6.11 and its 200-day moving average price is $4.26.

Mind Medicine (MindMed) (NASDAQ:MNMD) last released its quarterly earnings data on Wednesday, February 28th. The company reported ($0.59) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.48) by ($0.11). On average, equities analysts predict that Mind Medicine will post -1.7 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Mind Medicine (MindMed)

Several large investors have recently bought and sold shares of the business. Goldman Sachs Group Inc. increased its position in Mind Medicine (MindMed) by 316.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 111,931 shares of the company’s stock worth $410,000 after purchasing an additional 85,025 shares during the last quarter. Scotia Capital Inc. bought a new stake in Mind Medicine (MindMed) in the fourth quarter worth $441,000. Jump Financial LLC increased its position in Mind Medicine (MindMed) by 8.3% in 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 during the last quarter. Charles Schwab Investment Management Inc. increased its position in Mind Medicine (MindMed) by 1.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 191,874 shares of the company’s stock worth $702,000 after purchasing an additional 3,338 shares during the last quarter. Finally, Mitchell Mcleod Pugh & Williams Inc. bought a new stake in Mind Medicine (MindMed) in the fourth quarter worth $73,000. Institutional investors own 27.91% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on MNMD shares. Royal Bank of Canada raised their target price on shares of Mind Medicine (MindMed) from $14.00 to $15.00 and gave the stock an “outperform” rating in a research note on Thursday, February 29th. HC Wainwright restated a “buy” rating and set a $75.00 target price on shares of Mind Medicine (MindMed) in a research note on Thursday, March 14th. Finally, Canaccord Genuity Group initiated coverage on shares of Mind Medicine (MindMed) in a research note on Tuesday, December 5th. They set a “buy” rating and a $9.00 target price on the stock. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $24.83.

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 for the treatment of core symptoms of autism spectrum disorder.