Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) CEO Sells $142,941.92 in Stock

Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) CEO Robert Barrow sold 21,208 shares of the firm’s stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $6.74, for a total transaction of $142,941.92. Following the completion of the transaction, the chief executive officer now directly owns 856,556 shares of the company’s stock, valued at $5,773,187.44. This represents a 2.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Robert Barrow also recently made the following trade(s):

• On Thursday, December 26th, Robert Barrow sold 19,106 shares of Mind Medicine (MindMed) stock. The shares were sold at an average price of $7.43, for a total transaction of $141,957.58.

Mind Medicine (MindMed) Stock Performance

Mind Medicine (MindMed) stock traded down $0.20 during midday trading on Wednesday, hitting $6.58. The company’s stock had a trading volume of 1,384,819 shares, compared to its average volume of 1,421,332. The company has a 50-day moving average price of $7.29 and a two-hundred day moving average price of $6.96. Mind Medicine has a 1-year low of $5.03 and a 1-year high of $12.22. The company has a market cap of $495.92 million, a price-to-earnings ratio of -2.91 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 (MindMed) (NASDAQ:MNMD) last released its quarterly 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 quarter in the prior year, the business posted ($0.59) EPS. As a group, sell-side analysts predict that Mind Medicine will post -1.35 earnings per share for the current year.

Institutional Trading of Mind Medicine (MindMed)

A number of institutional investors have recently modified their holdings of the stock. Intech Investment Management LLC bought a new stake in Mind Medicine (MindMed) during the third quarter worth about $134,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Mind Medicine (MindMed) by 8.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 602,544 shares of the company’s stock worth $3,428,000 after acquiring an additional 46,187 shares during the period. MetLife Investment Management LLC acquired a new stake in shares of Mind Medicine (MindMed) during the 3rd quarter worth approximately $242,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Mind Medicine (MindMed) by 22.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,226 shares of the company’s stock valued at $126,000 after purchasing an additional 4,079 shares in the last quarter. Finally, State Street Corp boosted its holdings in shares of Mind Medicine (MindMed) by 0.5% in the 3rd quarter. State Street Corp now owns 1,814,829 shares of the company’s stock valued at $10,326,000 after purchasing an additional 9,782 shares in the last quarter. 27.91% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on MNMD. Chardan Capital assumed coverage on Mind Medicine (MindMed) in a research note on Friday, December 20th. They issued a “buy” rating and a $20.00 price objective on the stock. Evercore ISI initiated coverage on Mind Medicine (MindMed) in a research note on Tuesday, January 28th. They issued an “outperform” rating and a $23.00 price target on the stock. Robert W. Baird decreased their price objective on shares of Mind Medicine (MindMed) from $27.00 to $16.00 and set an “outperform” rating on the stock in a report on Friday, March 7th. HC Wainwright reissued a “buy” rating and issued a $55.00 price objective on shares of Mind Medicine (MindMed) in a research report on Friday, March 7th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $20.00 price target on shares of Mind Medicine (MindMed) in a research note on Tuesday, December 17th. Ten analysts have rated the stock with a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $25.11.

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.