Mind Medicine (MindMed) (NASDAQ:MNMD) Issues Earnings Results

Mind Medicine (MindMed) (NASDAQ:MNMD) announced its earnings results on Thursday. The company reported ($0.41) EPS for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.08), Zacks reports. During the same quarter last year, the firm earned ($0.59) EPS.

Mind Medicine (MindMed) Price Performance

Shares of NASDAQ:MNMD opened at $6.83 on Friday. 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 firm has a fifty day moving average price of $7.42 and a 200 day moving average price of $6.90. Mind Medicine has a fifty-two week low of $5.03 and a fifty-two week high of $12.22. The firm has a market cap of $500.86 million, a price-to-earnings ratio of -3.02 and a beta of 2.57.

Analyst Ratings Changes

MNMD has been the subject of a number of research reports. Oppenheimer reaffirmed an “outperform” rating and set a $20.00 target price on shares of Mind Medicine (MindMed) in a report on Tuesday, December 17th. Chardan Capital initiated coverage on shares of Mind Medicine (MindMed) in a report on Friday, December 20th. They set a “buy” rating and a $20.00 target price for the company. HC Wainwright reaffirmed a “buy” rating and set a $55.00 target price on shares of Mind Medicine (MindMed) in a report on Friday. Robert W. Baird reduced their target price on shares of Mind Medicine (MindMed) from $27.00 to $16.00 and set an “outperform” rating for the company in a report on Friday. Finally, Evercore ISI assumed coverage on shares of Mind Medicine (MindMed) in a research note on Tuesday, January 28th. They issued an “outperform” rating and a $23.00 price objective 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 company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $25.11.

Insider Buying and Selling

In related news, insider Dan Karlin sold 6,643 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 transaction of $49,357.49. Following the completion of the transaction, the insider now owns 338,013 shares in the company, valued at approximately $2,511,436.59. This represents a 1.93 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Robert Barrow sold 19,106 shares of the company’s stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $7.43, for a total transaction of $141,957.58. Following the transaction, the chief executive officer now 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 28,022 shares of company stock worth $208,203. 2.26% of the stock is owned by insiders.

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.