Mind Medicine (MindMed) (NASDAQ:MNMD) Coverage Initiated at SVB Leerink

SVB Leerink started coverage on shares of Mind Medicine (MindMed) (NASDAQ:MNMD) in a research report sent to investors on Monday morning, Marketbeat reports. The firm issued an outperform rating and a $20.00 target price on the stock.

Several other research firms have also issued reports on MNMD. HC Wainwright restated a buy rating and issued a $75.00 price target on shares of Mind Medicine (MindMed) in a research report on Thursday, March 14th. Royal Bank of Canada raised their price target on shares of Mind Medicine (MindMed) from $14.00 to $15.00 and gave the stock an outperform rating in a research report on Thursday, February 29th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, Mind Medicine (MindMed) has a consensus rating of Buy and a consensus price target of $25.20.

Mind Medicine (MindMed) Stock Performance

Shares of MNMD opened at $9.53 on Monday. The company has a market capitalization of $669.65 million, a PE ratio of -3.89 and a beta of 2.81. Mind Medicine has a one year low of $2.41 and a one year high of $12.22. The company has a debt-to-equity ratio of 0.18, a current ratio of 3.22 and a quick ratio of 3.22. The company’s fifty day moving average price is $7.89 and its 200 day moving average price is $4.89.

Mind Medicine (MindMed) (NASDAQ:MNMD) last announced its earnings results on Wednesday, February 28th. The company reported ($0.59) EPS for the quarter, missing the consensus estimate of ($0.48) by ($0.11). As a group, analysts expect that Mind Medicine will post -1.7 earnings per share for the current year.

Insider Activity

In other news, insider Dan Karlin sold 6,578 shares of Mind Medicine (MindMed) stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $9.50, for a total transaction of $62,491.00. Following the sale, the insider now directly owns 358,452 shares in the company, valued at approximately $3,405,294. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, insider Dan Karlin sold 6,578 shares of Mind Medicine (MindMed) stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $9.50, for a total transaction of $62,491.00. Following the sale, the insider now directly owns 358,452 shares in the company, valued at approximately $3,405,294. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Robert Barrow sold 16,519 shares of Mind Medicine (MindMed) stock in a transaction dated Monday, March 25th. The shares were 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 $5,511,919. The disclosure for this sale can be found here. 2.11% of the stock is owned by company insiders.

Institutional Investors Weigh In On Mind Medicine (MindMed)

A number of large investors have recently bought and sold shares of MNMD. Royal Bank of Canada raised its position in Mind Medicine (MindMed) by 60.7% in the 2nd quarter. Royal Bank of Canada now owns 7,474 shares of the company’s stock valued at $27,000 after purchasing an additional 2,824 shares during the last quarter. Jump Financial LLC raised its holdings in shares of Mind Medicine (MindMed) by 8.3% in the fourth quarter. Jump Financial LLC now owns 36,826 shares of the company’s stock valued at $135,000 after buying an additional 2,826 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of 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 valued at $702,000 after buying an additional 3,338 shares during the last quarter. Northern Trust Corp lifted its position in Mind Medicine (MindMed) by 6.2% during the 2nd quarter. Northern Trust Corp now owns 62,032 shares of the company’s stock worth $221,000 after buying an additional 3,641 shares in the last quarter. Finally, FMR LLC grew its holdings in Mind Medicine (MindMed) by 40.0% during the 3rd quarter. FMR LLC now owns 17,256 shares of the company’s stock worth $54,000 after acquiring an additional 4,928 shares during the last quarter. 27.91% of the stock is currently owned by institutional investors.

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 for the treatment of core symptoms of autism spectrum disorder.