SLT Holdings LLC Makes New $91,000 Investment in Mind Medicine (MindMed) Inc. (NASDAQ:MNMD)

SLT Holdings LLC acquired a new position in shares of Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 13,100 shares of the company’s stock, valued at approximately $91,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC purchased a new position in Mind Medicine (MindMed) during the 3rd quarter worth approximately $58,000. Sanctuary Advisors LLC purchased a new position in shares of Mind Medicine (MindMed) during the 3rd quarter valued at $91,000. Foundations Investment Advisors LLC purchased a new position in shares of Mind Medicine (MindMed) during the 4th quarter valued at $91,000. China Universal Asset Management Co. Ltd. purchased a new position in shares of Mind Medicine (MindMed) during the 4th quarter valued at $108,000. Finally, Raymond James Financial Inc. purchased a new position in shares of Mind Medicine (MindMed) during the 4th quarter valued at $111,000. 27.91% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on MNMD. Oppenheimer restated an “outperform” rating and set a $20.00 price target on shares of Mind Medicine (MindMed) in a report on Tuesday, December 17th. Evercore ISI began coverage on shares of Mind Medicine (MindMed) in a report on Tuesday, January 28th. They set an “outperform” rating and a $23.00 price target on the stock. Chardan Capital assumed coverage on shares of Mind Medicine (MindMed) in a report on Friday, December 20th. They set a “buy” rating and a $20.00 price target on the stock. Robert W. Baird reduced their price objective on shares of Mind Medicine (MindMed) from $27.00 to $16.00 and set an “outperform” rating for the company in a research note on Friday. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $55.00 price objective on shares of Mind Medicine (MindMed) in a research note on Friday. Ten analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $25.11.

Mind Medicine (MindMed) Stock Up 3.3 %

Mind Medicine (MindMed) stock opened at $6.83 on Friday. The firm has a market cap of $500.86 million, a price-to-earnings ratio of -3.02 and a beta of 2.57. The company has a debt-to-equity ratio of 0.09, a current ratio of 9.00 and a quick ratio of 9.00. Mind Medicine has a fifty-two week low of $5.03 and a fifty-two week high of $12.22. The firm has a fifty day moving average price of $7.42 and a two-hundred day moving average price of $6.91.

Mind Medicine (MindMed) (NASDAQ:MNMD) last released its earnings results on Thursday, March 6th. The company reported ($0.41) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.08). During the same period in the previous year, the business earned ($0.59) EPS. As a group, analysts forecast that Mind Medicine will post -1.35 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Robert Barrow sold 19,106 shares of the company’s stock in a transaction dated Thursday, December 26th. The shares were sold at an average price of $7.43, for a total transaction of $141,957.58. Following the completion of the transaction, the chief executive officer now owns 526,666 shares of the company’s stock, valued at approximately $3,913,128.38. This represents a 3.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Dan Karlin sold 6,643 shares of the company’s stock in a transaction dated Thursday, December 26th. The shares were sold at an average price of $7.43, for a total transaction of $49,357.49. Following the transaction, the insider now directly owns 338,013 shares of the company’s stock, valued at $2,511,436.59. This represents a 1.93 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 28,022 shares of company stock valued at $208,203 in the last quarter. Insiders own 2.26% of the company’s stock.

Mind Medicine (MindMed) 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.