JPMorgan Chase & Co. Buys 2,797 Shares of Mind Medicine (MindMed) Inc. (NASDAQ:MNMD)

JPMorgan Chase & Co. raised its position in shares of Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) by 8.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 36,995 shares of the company’s stock after purchasing an additional 2,797 shares during the period. JPMorgan Chase & Co. owned 0.05% of Mind Medicine (MindMed) worth $211,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of the company. Geode Capital Management LLC grew its position in shares of Mind Medicine (MindMed) by 10.8% in the third quarter. Geode Capital Management LLC now owns 1,677,702 shares of the company’s stock valued at $9,548,000 after purchasing an additional 162,933 shares in the last quarter. Wellington Management Group LLP boosted its stake in Mind Medicine (MindMed) by 142.6% in the 3rd quarter. Wellington Management Group LLP now owns 185,722 shares of the company’s stock worth $1,057,000 after purchasing an additional 109,152 shares during the period. Barclays PLC grew its holdings in Mind Medicine (MindMed) by 203.6% during the 3rd quarter. Barclays PLC now owns 136,098 shares of the company’s stock valued at $775,000 after buying an additional 91,271 shares in the last quarter. XTX Topco Ltd bought a new stake in shares of Mind Medicine (MindMed) during the third quarter valued at about $337,000. Finally, Oppenheimer & Co. Inc. purchased a new stake in shares of Mind Medicine (MindMed) in the third quarter worth about $298,000. 27.91% of the stock is owned by hedge funds and other institutional investors.

Mind Medicine (MindMed) Stock Down 4.8 %

Shares of NASDAQ:MNMD opened at $6.79 on Friday. Mind Medicine has a 12-month low of $3.82 and a 12-month high of $12.22. The company has a current ratio of 9.00, a quick ratio of 9.00 and a debt-to-equity ratio of 0.09. The stock’s 50-day moving average price is $7.26 and its 200-day moving average price is $6.93. The stock has a market capitalization of $497.92 million, a P/E ratio of -3.00 and a beta of 2.60.

Mind Medicine (MindMed) (NASDAQ:MNMD) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.27) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.02. During the same period in the previous year, the company posted ($0.53) EPS. On average, equities analysts anticipate that Mind Medicine will post -1.35 earnings per share for the current year.

Insider Activity at Mind Medicine (MindMed)

In other Mind Medicine (MindMed) news, insider Dan Karlin sold 6,643 shares of the business’s stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $7.43, for a total transaction of $49,357.49. Following the completion of the sale, the insider now directly owns 338,013 shares in the company, valued at approximately $2,511,436.59. The trade was a 1.93 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Robert Barrow sold 19,106 shares of the business’s stock in a transaction dated Thursday, December 26th. The shares were sold at an average price of $7.43, for a total value of $141,957.58. Following the sale, the chief executive officer now owns 526,666 shares of the company’s stock, valued at approximately $3,913,128.38. This represents a 3.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 28,022 shares of company stock valued at $208,203 in the last 90 days. Corporate insiders own 2.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on MNMD. HC Wainwright reaffirmed a “buy” rating and issued a $55.00 price target on shares of Mind Medicine (MindMed) in a report on Friday. Chardan Capital began coverage on Mind Medicine (MindMed) in a research note on Friday, December 20th. They issued a “buy” rating and a $20.00 target price on the stock. Evercore ISI started coverage on Mind Medicine (MindMed) in a research report on Tuesday. They set an “outperform” rating and a $23.00 price target for the company. Oppenheimer restated an “outperform” rating and issued a $20.00 price objective on shares of Mind Medicine (MindMed) in a research report on Tuesday, December 17th. Finally, Leerink Partnrs upgraded shares of Mind Medicine (MindMed) to a “strong-buy” rating in a research report on Friday, October 11th. Ten research analysts have rated the stock with a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, Mind Medicine (MindMed) presently has an average rating of “Buy” and a consensus price target of $26.33.

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.