Barclays PLC Buys 91,271 Shares of Mind Medicine (MindMed) Inc. (NASDAQ:MNMD)

Barclays PLC lifted its stake in Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) by 203.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 136,098 shares of the company’s stock after buying an additional 91,271 shares during the period. Barclays PLC owned approximately 0.19% of Mind Medicine (MindMed) worth $775,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in MNMD. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Mind Medicine (MindMed) in the third quarter valued at approximately $58,000. Bridgewealth Advisory Group LLC acquired a new position in Mind Medicine (MindMed) during the second quarter valued at approximately $72,000. Wealth Alliance acquired a new position in Mind Medicine (MindMed) during the second quarter valued at approximately $79,000. Stoneridge Investment Partners LLC acquired a new position in Mind Medicine (MindMed) during the third quarter valued at approximately $93,000. Finally, SG Americas Securities LLC acquired a new position in Mind Medicine (MindMed) during the third quarter valued at approximately $93,000. 27.91% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on MNMD. Oppenheimer restated an “outperform” rating and set a $20.00 price objective on shares of Mind Medicine (MindMed) in a research report on Tuesday, December 17th. Leerink Partnrs upgraded shares of Mind Medicine (MindMed) to a “strong-buy” rating in a research report on Friday, October 11th. HC Wainwright restated a “buy” rating and set a $55.00 price objective on shares of Mind Medicine (MindMed) in a research report on Monday, November 11th. Chardan Capital began coverage on shares of Mind Medicine (MindMed) in a research report on Friday, December 20th. They set a “buy” rating and a $20.00 price objective for the company. Finally, Leerink Partners started coverage on shares of Mind Medicine (MindMed) in a research report on Monday, October 14th. They set an “outperform” rating and a $20.00 price objective for the company. Nine investment analysts have rated the stock with a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, Mind Medicine (MindMed) presently has an average rating of “Buy” and a consensus target price of $26.75.

Insider Activity at Mind Medicine (MindMed)

In related news, CEO Robert Barrow sold 19,106 shares of the stock in a transaction on Thursday, December 26th. The stock was 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 $3,913,128.38. This represents a 3.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Dan Karlin sold 6,643 shares of the stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $7.43, for a total value of $49,357.49. Following the completion of the sale, the insider now owns 338,013 shares of the company’s stock, valued at $2,511,436.59. The trade was a 1.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 28,022 shares of company stock worth $208,203 over the last three months. Company insiders own 2.26% of the company’s stock.

Mind Medicine (MindMed) Stock Up 5.8 %

Shares of NASDAQ:MNMD opened at $6.76 on Thursday. The company has a fifty day moving average of $7.44 and a 200-day moving average of $6.94. The company has a market capitalization of $495.72 million, a PE ratio of -2.99 and a beta of 2.60. The company has a debt-to-equity ratio of 0.09, a quick ratio of 9.00 and a current ratio of 9.00. Mind Medicine has a 52-week low of $3.49 and a 52-week high of $12.22.

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.