Mind Medicine (MindMed) Inc. (NASDAQ:MNMD – Get Free Report) shares traded down 6.3% during trading on Tuesday . The stock traded as low as $8.46 and last traded at $8.53. 476,635 shares were traded during mid-day trading, a decline of 71% from the average session volume of 1,665,750 shares. The stock had previously closed at $9.10.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently weighed in on the company. Roth Mkm started coverage on Mind Medicine (MindMed) in a report on Wednesday, July 24th. They issued a “buy” rating and a $36.00 price target for the company. HC Wainwright restated a “buy” rating and issued a $35.00 price target on shares of Mind Medicine (MindMed) in a research report on Friday, May 24th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Mind Medicine (MindMed) in a report on Friday, June 21st. Robert W. Baird assumed coverage on shares of Mind Medicine (MindMed) in a research note on Tuesday, May 28th. They set an “outperform” rating and a $27.00 price objective on the stock. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $22.00 target price on shares of Mind Medicine (MindMed) in a research note on Wednesday, June 5th. Nine research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $22.00.
View Our Latest Stock Analysis on MNMD
Mind Medicine (MindMed) Stock Performance
Mind Medicine (MindMed) (NASDAQ:MNMD – Get Free Report) last posted its earnings results on Wednesday, May 8th. The company reported ($0.60) EPS for the quarter, beating the consensus estimate of ($0.66) by $0.06. On average, equities analysts forecast that Mind Medicine will post -1.35 earnings per share for the current fiscal year.
Insider Buying and Selling
In other Mind Medicine (MindMed) news, CEO Robert Barrow sold 15,659 shares of the business’s stock in a transaction dated Tuesday, June 25th. The shares were sold at an average price of $7.22, for a total transaction of $113,057.98. Following the sale, the chief executive officer now directly owns 564,543 shares in the company, valued at approximately $4,076,000.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Dan Karlin sold 6,925 shares of the firm’s stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $7.22, for a total transaction of $49,998.50. Following the completion of the transaction, the insider now owns 351,527 shares of the company’s stock, valued at $2,538,024.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Robert Barrow sold 15,659 shares of Mind Medicine (MindMed) stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $7.22, for a total value of $113,057.98. Following the transaction, the chief executive officer now directly owns 564,543 shares in the company, valued at $4,076,000.46. The disclosure for this sale can be found here. Corporate insiders own 2.26% of the company’s stock.
Institutional Investors Weigh In On Mind Medicine (MindMed)
Institutional investors and hedge funds have recently bought and sold shares of the business. SageView Advisory Group LLC bought a new stake in shares of Mind Medicine (MindMed) in the 1st quarter worth approximately $25,000. Bailard Inc. bought a new position in shares of Mind Medicine (MindMed) in the fourth quarter valued at $63,000. Mitchell Mcleod Pugh & Williams Inc. acquired a new stake in shares of Mind Medicine (MindMed) during the 4th quarter valued at $73,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Mind Medicine (MindMed) during the 2nd quarter worth $131,000. Finally, Jump Financial LLC grew its holdings in shares of Mind Medicine (MindMed) by 8.3% in the 4th quarter. Jump Financial LLC now owns 36,826 shares of the company’s stock worth $135,000 after acquiring an additional 2,826 shares during the last quarter. 27.91% of the stock is owned by institutional investors and hedge funds.
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.
Further Reading
- Five stocks we like better than Mind Medicine (MindMed)
- Top Stocks Investing in 5G Technology
- AbbVie Analysts Lead the Stock Higher as Humira Worries Recede
- Insider Selling Explained: Can it Inform Your Investing Choices?
- Harley-Davidson Stock Revs Up With Billion Dollar Buyback Program
- 3 Small Caps With Big Return Potential
- Cruise Line Stock Sinks Despite Beating EPS and Raised Guidance
Receive News & Ratings for Mind Medicine (MindMed) Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mind Medicine (MindMed) and related companies with MarketBeat.com's FREE daily email newsletter.