Oppenheimer & Co. Inc. Grows Stock Holdings in Mind Medicine (MindMed) Inc. (NASDAQ:MNMD)

Oppenheimer & Co. Inc. increased its stake in Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) by 25.1% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 65,541 shares of the company’s stock after buying an additional 13,160 shares during the period. Oppenheimer & Co. Inc. owned 0.09% of Mind Medicine (MindMed) worth $456,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Barclays PLC boosted 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 worth $775,000 after acquiring an additional 91,271 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 in the last quarter. Geode Capital Management LLC grew its position in 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 valued at $9,548,000 after purchasing an additional 162,933 shares during the last quarter. SG Americas Securities LLC increased its stake in Mind Medicine (MindMed) by 48.8% during the 4th quarter. SG Americas Securities LLC now owns 24,406 shares of the company’s stock valued at $170,000 after purchasing an additional 8,004 shares in the last quarter. Finally, State Street Corp increased its stake in Mind Medicine (MindMed) by 0.5% during 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 in the last quarter. Institutional investors own 27.91% of the company’s stock.

Mind Medicine (MindMed) Trading Up 3.3 %

Shares of NASDAQ:MNMD opened at $6.83 on Friday. Mind Medicine has a 52-week low of $5.03 and a 52-week high of $12.22. The stock has a market capitalization of $500.86 million, a price-to-earnings ratio of -3.02 and a beta of 2.57. 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’s 50-day simple moving average is $7.42 and its two-hundred day simple moving average is $6.90.

Mind Medicine (MindMed) (NASDAQ:MNMD) last posted its quarterly earnings data on Thursday, March 6th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.08). During the same period in the prior year, the firm earned ($0.59) EPS. Analysts expect that Mind Medicine will post -1.35 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on MNMD shares. HC Wainwright reiterated a “buy” rating and set a $55.00 price target on shares of Mind Medicine (MindMed) in a report on Friday. Oppenheimer reiterated an “outperform” rating and set a $20.00 target price on shares of Mind Medicine (MindMed) in a research note on Tuesday, December 17th. Evercore ISI began coverage on Mind Medicine (MindMed) in a research note on Tuesday, January 28th. They issued an “outperform” rating and a $23.00 price target for the company. Robert W. Baird dropped their price objective on Mind Medicine (MindMed) from $27.00 to $16.00 and set an “outperform” rating on the stock in a research report on Friday. Finally, Chardan Capital assumed coverage on Mind Medicine (MindMed) in a report on Friday, December 20th. They issued a “buy” rating and a $20.00 price objective for the company. Ten 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, the company presently has a consensus rating of “Buy” and a consensus target price of $25.11.

Insider Transactions at Mind Medicine (MindMed)

In related news, CEO Robert Barrow sold 19,106 shares of the 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 of the company’s stock, valued at approximately $3,913,128.38. This represents a 3.50 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Dan Karlin sold 6,643 shares of the firm’s stock in a transaction that occurred on 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 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 disclosure for this sale can be found here. Insiders have sold 28,022 shares of company stock worth $208,203 in the last 90 days. 2.26% of the stock is currently owned by insiders.

Mind Medicine (MindMed) 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.