Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) Shares Purchased by SG Americas Securities LLC

SG Americas Securities LLC increased its holdings in shares of Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) by 48.8% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 24,406 shares of the company’s stock after acquiring an additional 8,004 shares during the period. SG Americas Securities LLC’s holdings in Mind Medicine (MindMed) were worth $170,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Wealth Enhancement Advisory Services LLC boosted its position in Mind Medicine (MindMed) by 21.9% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 12,430 shares of the company’s stock worth $87,000 after acquiring an additional 2,230 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Mind Medicine (MindMed) by 8.2% during the third quarter. JPMorgan Chase & Co. now owns 36,995 shares of the company’s stock worth $211,000 after purchasing an additional 2,797 shares in the last quarter. Sanctuary Advisors LLC purchased a new position in Mind Medicine (MindMed) in the third quarter valued at $91,000. Barclays PLC raised its holdings in Mind Medicine (MindMed) by 203.6% in the third quarter. Barclays PLC now owns 136,098 shares of the company’s stock valued at $775,000 after acquiring an additional 91,271 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Mind Medicine (MindMed) by 10.8% during the 3rd quarter. Geode Capital Management LLC now owns 1,677,702 shares of the company’s stock worth $9,548,000 after acquiring an additional 162,933 shares in the last quarter. Hedge funds and other institutional investors own 27.91% of the company’s stock.

Mind Medicine (MindMed) Stock Performance

Shares of Mind Medicine (MindMed) stock opened at $8.26 on Monday. The stock has a market cap of $605.71 million, a PE ratio of -3.65 and a beta of 2.59. The company has a quick ratio of 9.00, a current ratio of 9.00 and a debt-to-equity ratio of 0.09. The business has a fifty day simple moving average of $7.30 and a 200-day simple moving average of $6.91. Mind Medicine has a 12 month low of $4.18 and a 12 month high of $12.22.

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

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. HC Wainwright reiterated a “buy” rating and issued a $55.00 price target on shares of Mind Medicine (MindMed) in a research report on Friday, January 31st. Chardan Capital assumed coverage on Mind Medicine (MindMed) in a research note on Friday, December 20th. They set a “buy” rating and a $20.00 price target on the stock. 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. Evercore ISI initiated coverage on Mind Medicine (MindMed) in a research note on Tuesday, January 28th. They set an “outperform” rating and a $23.00 price objective on the stock. Finally, Leerink Partners initiated coverage on shares of Mind Medicine (MindMed) in a research note on Monday, October 14th. They set an “outperform” rating and a $20.00 target price for the company. Ten equities research analysts have rated the stock with a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $26.33.

Insider Buying and Selling

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

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.