Moloney Securities Asset Management LLC Reduces Holdings in Mind Medicine (MindMed) Inc. $MNMD

Moloney Securities Asset Management LLC reduced its holdings in shares of Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) by 12.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,511 shares of the company’s stock after selling 4,500 shares during the quarter. Moloney Securities Asset Management LLC’s holdings in Mind Medicine (MindMed) were worth $205,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. CWM LLC grew its holdings in shares of Mind Medicine (MindMed) by 67.4% during the second quarter. CWM LLC now owns 4,459 shares of the company’s stock worth $29,000 after buying an additional 1,796 shares in the last quarter. Black Swift Group LLC purchased a new stake in shares of Mind Medicine (MindMed) during the first quarter worth about $63,000. CreativeOne Wealth LLC purchased a new stake in shares of Mind Medicine (MindMed) during the first quarter worth about $67,000. Blair William & Co. IL purchased a new stake in shares of Mind Medicine (MindMed) during the first quarter worth about $73,000. Finally, Bay Rivers Group purchased a new stake in shares of Mind Medicine (MindMed) during the second quarter worth about $75,000. 27.91% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Mind Medicine (MindMed)

In other Mind Medicine (MindMed) news, CEO Robert Barrow sold 25,797 shares of Mind Medicine (MindMed) stock in a transaction that occurred on Thursday, September 25th. The shares were sold at an average price of $9.77, for a total transaction of $252,036.69. Following the transaction, the chief executive officer directly owned 804,268 shares of the company’s stock, valued at $7,857,698.36. The trade was a 3.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Mark Sullivan sold 11,278 shares of the business’s stock in a transaction on Thursday, September 25th. The stock was sold at an average price of $9.77, for a total transaction of $110,186.06. Following the transaction, the insider directly owned 293,852 shares in the company, valued at approximately $2,870,934.04. The trade was a 3.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 44,779 shares of company stock valued at $437,491 over the last ninety days. Corporate insiders own 2.26% of the company’s stock.

Mind Medicine (MindMed) Trading Down 0.7%

Shares of MNMD stock opened at $12.38 on Monday. The stock has a market cap of $941.99 million, a price-to-earnings ratio of -8.09 and a beta of 2.55. The company has a quick ratio of 4.98, a current ratio of 4.98 and a debt-to-equity ratio of 0.22. Mind Medicine has a fifty-two week low of $4.70 and a fifty-two week high of $14.30. The firm’s 50 day moving average price is $10.71 and its two-hundred day moving average price is $8.62.

Mind Medicine (MindMed) (NASDAQ:MNMD) last announced its quarterly earnings results on Thursday, July 31st. The company reported ($0.50) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.12). On average, analysts anticipate that Mind Medicine will post -1.35 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Mind Medicine (MindMed) in a report on Saturday. Oppenheimer assumed coverage on shares of Mind Medicine (MindMed) in a report on Monday, August 4th. They set an “outperform” rating and a $25.00 price target for the company. Chardan Capital reiterated a “buy” rating and set a $20.00 price target on shares of Mind Medicine (MindMed) in a report on Friday, August 1st. Lifesci Capital raised shares of Mind Medicine (MindMed) to a “strong-buy” rating in a research report on Tuesday, October 14th. Finally, Needham & Company LLC set a $28.00 target price on shares of Mind Medicine (MindMed) and gave the stock a “buy” rating in a research report on Monday, October 13th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $27.83.

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.