Robert Barrow Sells 15,659 Shares of Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) Stock

Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) CEO Robert Barrow sold 15,659 shares of the business’s 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 directly owns 564,543 shares of the company’s stock, valued at approximately $4,076,000.46. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Mind Medicine (MindMed) Stock Performance

Shares of MNMD stock opened at $7.25 on Friday. Mind Medicine has a 12 month low of $2.41 and a 12 month high of $12.22. The company’s fifty day simple moving average is $8.33 and its 200-day simple moving average is $6.82. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.91 and a quick ratio of 3.91.

Mind Medicine (MindMed) (NASDAQ:MNMD) last posted its quarterly earnings data on Wednesday, May 8th. The company reported ($0.60) EPS for the quarter, topping analysts’ consensus estimates of ($0.66) by $0.06. On average, research analysts predict that Mind Medicine will post -1.36 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Robert W. Baird began coverage on Mind Medicine (MindMed) in a research note on Tuesday, May 28th. They issued an “outperform” rating and a $27.00 target price for the company. Baird R W raised Mind Medicine (MindMed) to a “strong-buy” rating in a research note on Wednesday, May 29th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Mind Medicine (MindMed) in a research note on Friday, June 21st. Leerink Partnrs reissued an “outperform” rating on shares of Mind Medicine (MindMed) in a research report on Monday, April 15th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $35.00 price objective on shares of Mind Medicine (MindMed) in a research report on Friday, May 24th. Eight analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $20.00.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Jump Financial LLC raised its stake in shares of Mind Medicine (MindMed) by 8.3% during the 4th quarter. Jump Financial LLC now owns 36,826 shares of the company’s stock worth $135,000 after purchasing an additional 2,826 shares in the last quarter. Citigroup Inc. acquired a new position in Mind Medicine (MindMed) during the third quarter worth $273,000. Scotia Capital Inc. bought a new stake in Mind Medicine (MindMed) during the fourth quarter worth $441,000. Mitchell Mcleod Pugh & Williams Inc. acquired a new stake in Mind Medicine (MindMed) in the fourth quarter valued at $73,000. Finally, Bailard Inc. bought a new position in shares of Mind Medicine (MindMed) in the 4th quarter valued at about $63,000. 27.91% of the stock is owned by institutional investors and hedge funds.

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.