Carrie Liao Sells 2,273 Shares of Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) Stock

Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) CAO Carrie Liao sold 2,273 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 $16,888.39. Following the transaction, the chief accounting officer now owns 97,270 shares of the company’s stock, valued at $722,716.10. This represents a 2.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Mind Medicine (MindMed) Price Performance

MNMD traded down $0.79 on Friday, hitting $6.84. 1,788,905 shares of the company’s stock were exchanged, compared to its average volume of 1,424,540. The firm has a 50-day moving average price of $7.24 and a 200-day moving average price of $6.98. The stock has a market cap of $501.59 million, a price-to-earnings ratio of -3.03 and a beta of 2.58. The company has a current ratio of 9.00, a quick ratio of 9.00 and a debt-to-equity ratio of 0.09. Mind Medicine has a fifty-two week low of $3.49 and a fifty-two week high of $12.22.

Hedge Funds Weigh In On Mind Medicine (MindMed)

A number of institutional investors and hedge funds have recently bought and sold shares of the business. JPMorgan Chase & Co. lifted its stake in Mind Medicine (MindMed) by 8.2% in the 3rd 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 acquired a new stake in shares of Mind Medicine (MindMed) in the third quarter valued at approximately $91,000. Barclays PLC lifted its position in Mind Medicine (MindMed) by 203.6% during the third quarter. Barclays PLC now owns 136,098 shares of the company’s stock worth $775,000 after buying an additional 91,271 shares in the last quarter. Geode Capital Management LLC grew its holdings in Mind Medicine (MindMed) by 10.8% in the 3rd quarter. Geode Capital Management LLC now owns 1,677,702 shares of the company’s stock valued at $9,548,000 after buying an additional 162,933 shares in the last quarter. Finally, XTX Topco Ltd acquired a new stake in shares of Mind Medicine (MindMed) in the 3rd quarter worth $337,000. 27.91% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

MNMD has been the subject of several recent research reports. Leerink Partners initiated coverage on shares of Mind Medicine (MindMed) in a report on Monday, October 14th. They set an “outperform” rating and a $20.00 target price for the company. Canaccord Genuity Group lowered 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 research note on Monday, September 16th. Leerink Partnrs upgraded Mind Medicine (MindMed) to a “strong-buy” rating in a research note on Friday, October 11th. Oppenheimer reiterated an “outperform” rating and set a $20.00 price target on shares of Mind Medicine (MindMed) in a research report on Tuesday, December 17th. Finally, HC Wainwright restated a “buy” rating and issued a $55.00 price objective on shares of Mind Medicine (MindMed) in a research report on Monday, November 11th. Nine research analysts have rated the stock with a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat, Mind Medicine (MindMed) has an average rating of “Buy” and a consensus price target of $26.75.

About Mind Medicine (MindMed)

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.