Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) CEO Robert Barrow Sells 15,659 Shares of Stock

Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) CEO Robert Barrow sold 15,659 shares of the company’s stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $7.22, for a total transaction of $113,057.98. Following the completion of the transaction, the chief executive officer now owns 564,543 shares in the company, valued at $4,076,000.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Mind Medicine (MindMed) Price Performance

Shares of NASDAQ:MNMD opened at $7.07 on Wednesday. The stock’s 50-day moving average price is $8.41 and its 200-day moving average price is $6.81. The company has a quick ratio of 3.91, a current ratio of 3.91 and a debt-to-equity ratio of 0.07. Mind Medicine has a 12-month low of $2.41 and a 12-month high of $12.22.

Mind Medicine (MindMed) (NASDAQ:MNMD) last posted its quarterly earnings results on Wednesday, May 8th. The company reported ($0.60) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.66) by $0.06. Sell-side analysts expect that Mind Medicine will post -1.36 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have recently commented on MNMD shares. Cantor Fitzgerald reissued an “overweight” rating on shares of Mind Medicine (MindMed) in a report on Friday, June 21st. Oppenheimer reissued an “outperform” rating and issued a $20.00 target price (down previously from $29.00) on shares of Mind Medicine (MindMed) in a research note on Monday, May 13th. Baird R W raised Mind Medicine (MindMed) to a “strong-buy” rating in a research note on Wednesday, May 29th. SVB Leerink started coverage on Mind Medicine (MindMed) in a research report on Monday, April 15th. They set an “outperform” rating and a $20.00 price objective on the stock. Finally, HC Wainwright reissued a “buy” rating and set a $35.00 price objective on shares of Mind Medicine (MindMed) in a report on Friday, May 24th. Eight analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Mind Medicine (MindMed) presently has a consensus rating of “Buy” and a consensus price target of $20.00.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Blackstone Inc. bought a new stake in Mind Medicine (MindMed) during the 1st quarter valued at $11,749,000. Janus Henderson Group PLC bought a new position in shares of Mind Medicine (MindMed) during the first quarter valued at about $8,964,000. AWM Investment Company Inc. purchased a new stake in shares of Mind Medicine (MindMed) during the first quarter worth about $7,830,000. Tidal Investments LLC bought a new stake in shares of Mind Medicine (MindMed) in the first quarter worth about $1,698,000. Finally, Scotia Capital Inc. purchased a new position in Mind Medicine (MindMed) during the 4th quarter valued at about $441,000. Institutional investors own 27.91% of the company’s stock.

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.