Tri Locum Partners LP Grows Stock Holdings in Mind Medicine (MindMed) Inc. (NASDAQ:MNMD)

Tri Locum Partners LP lifted its position in Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) by 0.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 382,055 shares of the company’s stock after buying an additional 2,459 shares during the quarter. Mind Medicine (MindMed) makes up 0.7% of Tri Locum Partners LP’s investment portfolio, making the stock its 23rd largest holding. Tri Locum Partners LP owned approximately 0.53% of Mind Medicine (MindMed) worth $2,755,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of MNMD. SageView Advisory Group LLC purchased a new stake in Mind Medicine (MindMed) during the first quarter worth about $25,000. Bridgewealth Advisory Group LLC acquired a new position in shares of Mind Medicine (MindMed) in the second quarter valued at approximately $72,000. Wealth Alliance purchased a new stake in Mind Medicine (MindMed) during the 2nd quarter worth approximately $79,000. Arizona State Retirement System acquired a new stake in Mind Medicine (MindMed) during the 2nd quarter worth approximately $114,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in Mind Medicine (MindMed) in the 2nd quarter valued at approximately $131,000. Institutional investors and hedge funds own 27.91% of the company’s stock.

Insider Transactions at Mind Medicine (MindMed)

In related news, CEO Robert Barrow sold 15,659 shares of the company’s stock in a transaction on Tuesday, June 25th. The shares were sold at an average price of $7.22, for a total value of $113,057.98. Following the completion of the sale, the chief executive officer now owns 564,543 shares in the company, valued at approximately $4,076,000.46. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, insider Dan Karlin sold 6,925 shares of the company’s stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $7.22, for a total transaction of $49,998.50. Following the completion of the sale, the insider now owns 351,527 shares in the company, valued at $2,538,024.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Robert Barrow sold 15,659 shares of Mind Medicine (MindMed) stock in a transaction on Tuesday, June 25th. The shares were sold at an average price of $7.22, for a total transaction of $113,057.98. Following the completion of the transaction, the chief executive officer now owns 564,543 shares in the company, valued at $4,076,000.46. The disclosure for this sale can be found here. Insiders own 2.26% of the company’s stock.

Mind Medicine (MindMed) Stock Down 5.4 %

MNMD opened at $5.97 on Monday. Mind Medicine has a one year low of $2.41 and a one year high of $12.22. The company has a debt-to-equity ratio of 0.12, a quick ratio of 5.92 and a current ratio of 5.92. The stock has a market capitalization of $429.08 million, a P/E ratio of -2.03 and a beta of 2.53. The business’s 50-day simple moving average is $7.03 and its 200-day simple moving average is $8.08.

Mind Medicine (MindMed) (NASDAQ:MNMD) last released its quarterly earnings results on Tuesday, August 13th. The company reported ($0.48) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.18). Analysts anticipate that Mind Medicine will post -1.27 EPS for the current year.

Analyst Ratings Changes

A number of analysts have recently weighed in on MNMD shares. Roth Capital raised Mind Medicine (MindMed) to a “strong-buy” rating in a research report on Wednesday, July 24th. Roth Mkm initiated coverage on shares of Mind Medicine (MindMed) in a research note on Wednesday, July 24th. They issued a “buy” rating and a $36.00 price target for the company. Robert W. Baird initiated coverage on shares of Mind Medicine (MindMed) in a research report on Tuesday, May 28th. They issued an “outperform” rating and a $27.00 price objective on the stock. Baird R W raised shares of Mind Medicine (MindMed) to a “strong-buy” rating in a research report on Wednesday, May 29th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Mind Medicine (MindMed) in a report on Friday, June 21st. Ten equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $25.38.

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.