Mind Medicine (MindMed) (NASDAQ:MNMD) Posts Earnings Results, Misses Estimates By $0.08 EPS

Mind Medicine (MindMed) (NASDAQ:MNMD) released its quarterly earnings data 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 period in the prior year, the company earned ($0.59) EPS.

Mind Medicine (MindMed) Price Performance

Shares of NASDAQ MNMD traded up $0.11 during trading on Thursday, reaching $6.49. The company had a trading volume of 1,036,976 shares, compared to its average volume of 1,678,527. Mind Medicine has a 52 week low of $5.03 and a 52 week high of $12.22. The business’s 50 day moving average price is $7.44 and its 200-day moving average price is $6.91. The stock has a market cap of $475.56 million, a PE ratio of -2.86 and a beta of 2.59. The company has a debt-to-equity ratio of 0.09, a quick ratio of 9.00 and a current ratio of 9.00.

Insider Activity

In other Mind Medicine (MindMed) news, CEO Robert Barrow sold 19,106 shares of the stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $7.43, for a total value of $141,957.58. Following the transaction, the chief executive officer now directly owns 526,666 shares in the company, valued at approximately $3,913,128.38. This trade represents a 3.50 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Dan Karlin sold 6,643 shares of Mind Medicine (MindMed) stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $7.43, for a total value of $49,357.49. Following the completion of the sale, the insider now directly owns 338,013 shares of the company’s stock, valued at $2,511,436.59. This trade represents a 1.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 28,022 shares of company stock valued at $208,203 over the last three months. 2.26% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts have commented on the stock. HC Wainwright restated a “buy” rating and set a $55.00 price target on shares of Mind Medicine (MindMed) in a research note on Friday, January 31st. Evercore ISI began coverage on Mind Medicine (MindMed) in a research report on Tuesday, January 28th. They set an “outperform” rating and a $23.00 target price for the company. Oppenheimer reiterated an “outperform” rating and issued a $20.00 price target on shares of Mind Medicine (MindMed) in a research report on Tuesday, December 17th. Finally, Chardan Capital started coverage on Mind Medicine (MindMed) in a report on Friday, December 20th. They set a “buy” rating and a $20.00 price objective for the company. Ten investment analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $26.33.

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.