State Street Corp Raises Holdings in Mind Medicine (MindMed) Inc. (NASDAQ:MNMD)

State Street Corp raised its holdings in Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) by 0.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,814,829 shares of the company’s stock after purchasing an additional 9,782 shares during the quarter. State Street Corp owned about 2.52% of Mind Medicine (MindMed) worth $10,326,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Mind Medicine (MindMed) during the 3rd quarter worth $58,000. Bridgewealth Advisory Group LLC acquired a new position in shares of Mind Medicine (MindMed) during the 2nd quarter worth approximately $72,000. Wealth Alliance purchased a new position in Mind Medicine (MindMed) in the 2nd quarter valued at about $79,000. SG Americas Securities LLC purchased a new stake in Mind Medicine (MindMed) in the 3rd quarter worth approximately $93,000. Finally, Stoneridge Investment Partners LLC acquired a new position in Mind Medicine (MindMed) in the third quarter valued at $93,000. 27.91% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on MNMD shares. Chardan Capital initiated coverage on shares of Mind Medicine (MindMed) in a research report on Friday, December 20th. They set a “buy” rating and a $20.00 target price for the company. Leerink Partners began coverage on shares of Mind Medicine (MindMed) in a research report on Monday, October 14th. They set an “outperform” rating and a $20.00 target price on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $55.00 target price on shares of Mind Medicine (MindMed) in a research report on Monday, November 11th. Oppenheimer reaffirmed an “outperform” rating and set a $20.00 price target on shares of Mind Medicine (MindMed) in a research report on Tuesday, December 17th. Finally, Canaccord Genuity Group lowered their target price on shares of Mind Medicine (MindMed) from $16.00 to $14.00 and set a “buy” rating for the company in a research note on Monday, September 16th. Nine research analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $26.75.

Mind Medicine (MindMed) Price Performance

Shares of NASDAQ:MNMD opened at $7.63 on Friday. Mind Medicine has a one year low of $3.49 and a one year high of $12.22. The company has a market capitalization of $559.52 million, a PE ratio of -3.38 and a beta of 2.58. The company has a debt-to-equity ratio of 0.09, a quick ratio of 9.00 and a current ratio of 9.00. The stock has a fifty day moving average of $7.24 and a 200-day moving average of $6.98.

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.