Geode Capital Management LLC Has $9.55 Million Stock Holdings in Mind Medicine (MindMed) Inc. (NASDAQ:MNMD)

Geode Capital Management LLC grew its stake in shares of Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) by 10.8% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,677,702 shares of the company’s stock after purchasing an additional 162,933 shares during the quarter. Geode Capital Management LLC owned about 2.33% of Mind Medicine (MindMed) worth $9,548,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in MNMD. Tri Locum Partners LP increased its holdings in Mind Medicine (MindMed) by 0.6% during the second quarter. Tri Locum Partners LP now owns 382,055 shares of the company’s stock worth $2,755,000 after buying an additional 2,459 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Mind Medicine (MindMed) by 22.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,226 shares of the company’s stock valued at $126,000 after acquiring an additional 4,079 shares during the period. Cubist Systematic Strategies LLC increased its stake in shares of Mind Medicine (MindMed) by 24.1% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 35,508 shares of the company’s stock worth $256,000 after purchasing an additional 6,890 shares during the last quarter. State Street Corp raised 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 during the period. Finally, Bridgewealth Advisory Group LLC acquired a new stake in Mind Medicine (MindMed) in the 2nd quarter valued at about $72,000. Institutional investors own 27.91% of the company’s stock.

Mind Medicine (MindMed) Trading Up 3.9 %

MNMD stock opened at $6.96 on Thursday. Mind Medicine has a 52 week low of $3.49 and a 52 week high of $12.22. The company has a market capitalization of $510.39 million, a PE ratio of -3.08 and a beta of 2.58. The company’s 50-day simple moving average is $7.26 and its 200 day simple moving average is $6.95. The company has a debt-to-equity ratio of 0.09, a quick ratio of 9.00 and a current ratio of 9.00.

Insider Buying and Selling at Mind Medicine (MindMed)

In other news, CEO Robert Barrow sold 19,106 shares of Mind Medicine (MindMed) stock in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $7.43, for a total value of $141,957.58. Following the completion of the sale, the chief executive officer now directly owns 526,666 shares in the company, valued at approximately $3,913,128.38. The trade was a 3.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Dan Karlin sold 6,643 shares of the stock in a transaction that occurred on Thursday, December 26th. The stock was sold at an average price of $7.43, for a total value of $49,357.49. Following the sale, the insider now directly owns 338,013 shares in the company, valued at $2,511,436.59. This represents a 1.93 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 28,022 shares of company stock valued at $208,203 in the last quarter. Company insiders own 2.26% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.