Dan Karlin Sells 6,871 Shares of Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) Stock

Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) insider Dan Karlin sold 6,871 shares of the firm’s stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $5.98, for a total transaction of $41,088.58. Following the completion of the sale, the insider now owns 344,656 shares of the company’s stock, valued at $2,061,042.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Mind Medicine (MindMed) Stock Down 0.7 %

Mind Medicine (MindMed) stock opened at $5.85 on Friday. Mind Medicine has a 1-year low of $2.41 and a 1-year high of $12.22. The firm has a market capitalization of $420.45 million, a price-to-earnings ratio of -1.99 and a beta of 2.53. The firm’s fifty day moving average price is $6.81 and its two-hundred day moving average price is $7.99. The company has a current ratio of 5.92, a quick ratio of 5.92 and a debt-to-equity ratio of 0.12.

Mind Medicine (MindMed) (NASDAQ:MNMD) last released its quarterly earnings data on Tuesday, August 13th. The company reported ($0.48) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.18). On average, equities research analysts predict that Mind Medicine will post -1.27 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. Cubist Systematic Strategies LLC lifted its position in shares of Mind Medicine (MindMed) by 24.1% during the second quarter. Cubist Systematic Strategies LLC now owns 35,508 shares of the company’s stock valued at $256,000 after purchasing an additional 6,890 shares in the last quarter. The Manufacturers Life Insurance Company bought a new position in shares of Mind Medicine (MindMed) during the second quarter valued at about $197,000. Marshall Wace LLP lifted its position in shares of Mind Medicine (MindMed) by 8.1% during the second quarter. Marshall Wace LLP now owns 2,160,203 shares of the company’s stock valued at $15,575,000 after purchasing an additional 161,659 shares in the last quarter. Tri Locum Partners LP lifted its position in shares of Mind Medicine (MindMed) by 0.6% during the second quarter. Tri Locum Partners LP now owns 382,055 shares of the company’s stock valued at $2,755,000 after purchasing an additional 2,459 shares in the last quarter. Finally, Bridgewealth Advisory Group LLC bought a new position in shares of Mind Medicine (MindMed) during the second quarter valued at about $72,000. 27.91% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have commented on MNMD. HC Wainwright raised their price target on shares of Mind Medicine (MindMed) from $35.00 to $55.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Royal Bank of Canada restated an “outperform” rating and issued a $22.00 price target on shares of Mind Medicine (MindMed) in a report on Wednesday, June 5th. Roth Mkm began coverage on shares of Mind Medicine (MindMed) in a report on Wednesday, July 24th. They issued a “buy” rating and a $36.00 price target for the company. Cantor Fitzgerald restated an “overweight” rating on shares of Mind Medicine (MindMed) in a report on Friday, June 21st. Finally, Roth Capital upgraded shares of Mind Medicine (MindMed) to a “strong-buy” rating in a report on Wednesday, July 24th. Ten equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Mind Medicine (MindMed) presently has a consensus rating of “Buy” and an average target price of $25.38.

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.