Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) Insider Daniel Karlin Sells 6,836 Shares of Stock

Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) insider Daniel Karlin sold 6,836 shares of the company’s stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $6.74, for a total transaction of $46,074.64. Following the transaction, the insider now directly owns 446,177 shares in the company, valued at approximately $3,007,232.98. This trade represents a 1.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Mind Medicine (MindMed) Trading Down 2.9 %

Shares of MNMD stock opened at $6.58 on Thursday. Mind Medicine has a twelve month low of $5.03 and a twelve month high of $12.22. The company has a market capitalization of $495.92 million, a price-to-earnings ratio of -2.91 and a beta of 2.57. The firm has a 50-day moving average price of $7.28 and a 200 day moving average price of $6.96. The company has a current ratio of 9.00, a quick ratio of 9.00 and a debt-to-equity ratio of 0.09.

Mind Medicine (MindMed) (NASDAQ:MNMD) last announced its quarterly earnings data on Thursday, March 6th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.33) by ($0.08). During the same quarter last year, the firm earned ($0.59) EPS. Research analysts forecast that Mind Medicine will post -1.35 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Mind Medicine (MindMed)

Several hedge funds have recently made changes to their positions in MNMD. Diadema Partners LP purchased a new position in Mind Medicine (MindMed) during the fourth quarter worth about $33,000. Hollencrest Capital Management increased its stake in shares of Mind Medicine (MindMed) by 10,833.3% during the 4th quarter. Hollencrest Capital Management now owns 7,216 shares of the company’s stock valued at $50,000 after acquiring an additional 7,150 shares during the last quarter. King Wealth Management Group purchased a new position in shares of Mind Medicine (MindMed) during the 4th quarter worth about $70,000. Virtus ETF Advisers LLC acquired a new stake in shares of Mind Medicine (MindMed) in the fourth quarter worth approximately $70,000. Finally, Sharpepoint LLC purchased a new stake in Mind Medicine (MindMed) in the fourth quarter valued at approximately $71,000. Institutional investors and hedge funds own 27.91% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Mind Medicine (MindMed) Company 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.