UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $400,000 Stock Position in Mind Medicine (MindMed) Inc. (NASDAQ:MNMD)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its holdings in Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) by 9.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 70,353 shares of the company’s stock after selling 7,726 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.10% of Mind Medicine (MindMed) worth $400,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Mind Medicine (MindMed) in the 3rd quarter valued at about $58,000. Bridgewealth Advisory Group LLC acquired a new stake in Mind Medicine (MindMed) during the 2nd quarter valued at approximately $72,000. Wealth Alliance bought a new position in Mind Medicine (MindMed) during the 2nd quarter worth approximately $79,000. SG Americas Securities LLC acquired a new position in shares of Mind Medicine (MindMed) in the 3rd quarter worth approximately $93,000. Finally, Stoneridge Investment Partners LLC bought a new stake in shares of Mind Medicine (MindMed) in the 3rd quarter valued at $93,000. 27.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Mind Medicine (MindMed)

In related news, insider Dan Karlin sold 6,871 shares of Mind Medicine (MindMed) stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $5.98, for a total transaction of $41,088.58. Following the transaction, the insider now owns 344,656 shares of the company’s stock, valued at $2,061,042.88. The trade was a 1.95 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Robert Barrow sold 19,771 shares of the stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $5.98, for a total value of $118,230.58. Following the completion of the sale, the chief executive officer now directly owns 545,772 shares of the company’s stock, valued at $3,263,716.56. The trade was a 3.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 28,994 shares of company stock valued at $173,384. 2.26% of the stock is owned by corporate insiders.

Mind Medicine (MindMed) Stock Up 2.1 %

Shares of NASDAQ MNMD opened at $7.16 on Friday. The company has a debt-to-equity ratio of 0.09, a current ratio of 9.00 and a quick ratio of 9.00. Mind Medicine has a 1 year low of $3.37 and a 1 year high of $12.22. The stock has a market capitalization of $525.06 million, a P/E ratio of -3.17 and a beta of 2.58. The company has a 50-day moving average price of $7.15 and a 200-day moving average price of $6.99.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on MNMD. Canaccord Genuity Group dropped their target price on shares of Mind Medicine (MindMed) from $16.00 to $14.00 and set a “buy” rating on the stock in a report on Monday, September 16th. Oppenheimer reissued an “outperform” rating and issued a $20.00 price objective on shares of Mind Medicine (MindMed) in a research note on Tuesday. HC Wainwright reaffirmed a “buy” rating and set a $55.00 target price on shares of Mind Medicine (MindMed) in a research note on Monday, November 11th. Leerink Partnrs upgraded Mind Medicine (MindMed) to a “strong-buy” rating in a report on Friday, October 11th. Finally, Chardan Capital assumed coverage on shares of Mind Medicine (MindMed) in a research note on Friday. They issued a “buy” rating and a $20.00 price objective for the company. Nine investment analysts have rated the stock with a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $26.75.

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.