Nisa Investment Advisors LLC Acquires 45,000 Shares of Mind Medicine (MindMed) Inc. $MNMD

Nisa Investment Advisors LLC grew its holdings in Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) by 1,332.1% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 48,378 shares of the company’s stock after buying an additional 45,000 shares during the period. Nisa Investment Advisors LLC owned approximately 0.06% of Mind Medicine (MindMed) worth $570,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Russell Investments Group Ltd. lifted its holdings in shares of Mind Medicine (MindMed) by 110.4% in the 2nd quarter. Russell Investments Group Ltd. now owns 3,817 shares of the company’s stock valued at $25,000 after acquiring an additional 2,003 shares during the last quarter. CWM LLC lifted its stake in shares of Mind Medicine (MindMed) by 67.4% in the 2nd quarter. CWM LLC now owns 4,459 shares of the company’s stock valued at $29,000 after purchasing an additional 1,796 shares during the last quarter. Sound Income Strategies LLC purchased a new position in shares of Mind Medicine (MindMed) in the 3rd quarter worth approximately $46,000. BNP Paribas Financial Markets boosted its holdings in shares of Mind Medicine (MindMed) by 56.0% in the 2nd quarter. BNP Paribas Financial Markets now owns 8,417 shares of the company’s stock worth $55,000 after purchasing an additional 3,020 shares during the period. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of Mind Medicine (MindMed) during the 2nd quarter valued at approximately $95,000. 27.91% of the stock is currently owned by hedge funds and other institutional investors.

Mind Medicine (MindMed) Trading Up 0.6%

NASDAQ MNMD opened at $14.96 on Friday. The stock has a market cap of $1.47 billion, a PE ratio of -7.33 and a beta of 2.57. Mind Medicine has a 12 month low of $4.70 and a 12 month high of $15.29. The company’s 50-day moving average price is $12.70 and its 200-day moving average price is $11.06. The company has a current ratio of 3.30, a quick ratio of 3.30 and a debt-to-equity ratio of 0.31.

Mind Medicine (MindMed) (NASDAQ:MNMD) last released its quarterly earnings data on Thursday, November 6th. The company reported ($0.78) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.52) by ($0.26). Equities research analysts forecast that Mind Medicine will post -1.35 earnings per share for the current year.

Insider Activity at Mind Medicine (MindMed)

In related news, CEO Robert Barrow sold 25,791 shares of the business’s stock in a transaction that occurred on Friday, December 26th. The stock was sold at an average price of $13.15, for a total value of $339,151.65. Following the completion of the sale, the chief executive officer owned 778,477 shares in the company, valued at approximately $10,236,972.55. The trade was a 3.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Daniel Karlin sold 5,600 shares of the firm’s stock in a transaction on Friday, December 26th. The stock was sold at an average price of $13.15, for a total value of $73,640.00. Following the transaction, the insider owned 425,025 shares in the company, valued at $5,589,078.75. The trade was a 1.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 42,667 shares of company stock worth $561,071. Company insiders own 2.45% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on MNMD. Royal Bank Of Canada lowered their price target on Mind Medicine (MindMed) from $21.00 to $20.00 and set an “outperform” rating for the company in a research report on Friday, November 7th. Needham & Company LLC restated a “buy” rating on shares of Mind Medicine (MindMed) in a report on Monday, January 5th. Chardan Capital raised shares of Mind Medicine (MindMed) to a “strong-buy” rating in a research note on Wednesday, November 19th. Lifesci Capital raised shares of Mind Medicine (MindMed) to a “strong-buy” rating in a research report on Tuesday, October 14th. Finally, Canaccord Genuity Group raised their price objective on shares of Mind Medicine (MindMed) from $16.00 to $25.00 and gave the stock a “buy” rating in a research note on Friday, November 7th. Three investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $30.33.

Mind Medicine (MindMed) Profile

Mind Medicine (MindMed) is a clinical-stage biopharmaceutical company focused on developing psychedelic-inspired therapies to address a range of mental health and neurological disorders. The company applies traditional drug development techniques to molecules derived from psychedelic compounds, with an emphasis on safety, efficacy and scalable manufacturing. Its research and development activities span small-molecule analogues, novel formulations and digital therapeutics designed to enhance or support pharmacological interventions.

The company’s lead development programs include MM-120, an investigational low-dose LSD formulation intended for treatment of anxiety; MM-310, an ibogaine-derived non-hallucinogenic compound targeting opioid withdrawal and addiction; and MM-402, a proprietary 5-MeO-DMT receptor agonist for mood and stress-related indications.