Robert Barrow Sells 19,771 Shares of Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) Stock

Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) CEO Robert Barrow sold 19,771 shares of the stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $5.98, for a total value of $118,230.58. Following the completion of the transaction, the chief executive officer now directly owns 545,772 shares of the company’s stock, valued at $3,263,716.56. The sale was disclosed in a filing with the SEC, which is available through this link.

Robert Barrow also recently made the following trade(s):

• On Monday, August 19th, Robert Barrow purchased 500 shares of Mind Medicine (MindMed) stock. The shares were acquired at an average price of $6.31 per share, with a total value of $3,155.00.

Mind Medicine (MindMed) Trading Down 1.2 %

Shares of NASDAQ:MNMD opened at $5.89 on Friday. 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 $423.33 million, a price-to-earnings ratio of -2.00 and a beta of 2.53. Mind Medicine has a 1-year low of $2.41 and a 1-year high of $12.22. The company has a 50 day moving average price of $6.85 and a 200 day moving average price of $8.01.

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

Hedge Funds Weigh In On Mind Medicine (MindMed)

A number of institutional investors have recently bought and sold shares of the stock. Blackstone Inc. purchased a new stake in Mind Medicine (MindMed) during the first quarter valued at about $11,749,000. Janus Henderson Group PLC acquired a new stake in shares of Mind Medicine (MindMed) during the first quarter valued at approximately $8,964,000. AWM Investment Company Inc. acquired a new stake in shares of Mind Medicine (MindMed) during the first quarter valued at approximately $7,830,000. Bank of New York Mellon Corp lifted its position in shares of Mind Medicine (MindMed) by 472.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 246,208 shares of the company’s stock valued at $1,775,000 after acquiring an additional 203,216 shares in the last quarter. Finally, Tidal Investments LLC acquired a new position in Mind Medicine (MindMed) in the 1st quarter worth approximately $1,698,000. Hedge funds and other institutional investors own 27.91% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on MNMD shares. Cantor Fitzgerald restated an “overweight” rating on shares of Mind Medicine (MindMed) in a research note on Friday, June 21st. Canaccord Genuity Group dropped their price target on shares of Mind Medicine (MindMed) from $16.00 to $14.00 and set a “buy” rating on the stock in a research report on Monday, September 16th. Roth Mkm began coverage on shares of Mind Medicine (MindMed) in a report on Wednesday, July 24th. They issued a “buy” rating and a $36.00 price objective for the company. Royal Bank of Canada reissued an “outperform” rating and set a $22.00 target price on shares of Mind Medicine (MindMed) in a report on Wednesday, June 5th. Finally, HC Wainwright upped their target price on Mind Medicine (MindMed) from $35.00 to $55.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Ten 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.com, the company has an average rating of “Buy” and an average target price of $25.38.

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.