Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) CAO Carrie Liao Sells 2,347 Shares

Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) CAO Carrie Liao sold 2,347 shares of the stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $6.74, for a total transaction of $15,818.78. Following the completion of the sale, the chief accounting officer now owns 144,923 shares of the company’s stock, valued at approximately $976,781.02. This trade represents a 1.59 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Carrie Liao also recently made the following trade(s):

• On Thursday, December 26th, Carrie Liao sold 2,273 shares of Mind Medicine (MindMed) stock. The shares were sold at an average price of $7.43, for a total value of $16,888.39.

Mind Medicine (MindMed) Price Performance

Shares of NASDAQ:MNMD opened at $6.58 on Thursday. The company has a 50 day moving average of $7.28 and a 200 day moving average of $6.96. The company has a current ratio of 9.00, a quick ratio of 9.00 and a debt-to-equity ratio of 0.09. The stock has a market cap of $495.92 million, a P/E ratio of -2.91 and a beta of 2.57. Mind Medicine has a 12 month low of $5.03 and a 12 month high of $12.22.

Mind Medicine (MindMed) (NASDAQ:MNMD) last released its quarterly earnings results on Thursday, March 6th. The company reported ($0.41) earnings per share for the quarter, missing the consensus estimate of ($0.33) by ($0.08). During the same period in the previous year, the company earned ($0.59) EPS. As a group, sell-side analysts forecast that Mind Medicine will post -1.35 EPS for the current fiscal year.

Institutional Trading of Mind Medicine (MindMed)

A number of large investors have recently modified their holdings of the business. Barclays PLC lifted its position in Mind Medicine (MindMed) by 203.6% during the third quarter. Barclays PLC now owns 136,098 shares of the company’s stock valued at $775,000 after purchasing an additional 91,271 shares during the last quarter. Wellington Management Group LLP raised its position in shares of Mind Medicine (MindMed) by 142.6% during the 3rd quarter. Wellington Management Group LLP now owns 185,722 shares of the company’s stock valued at $1,057,000 after buying an additional 109,152 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Mind Medicine (MindMed) by 10.8% during the 3rd quarter. Geode Capital Management LLC now owns 1,677,702 shares of the company’s stock worth $9,548,000 after acquiring an additional 162,933 shares during the last quarter. SG Americas Securities LLC grew its position in Mind Medicine (MindMed) by 48.8% in the fourth quarter. SG Americas Securities LLC now owns 24,406 shares of the company’s stock worth $170,000 after acquiring an additional 8,004 shares in the last quarter. Finally, State Street Corp increased its stake in Mind Medicine (MindMed) by 0.5% in the third quarter. State Street Corp now owns 1,814,829 shares of the company’s stock valued at $10,326,000 after acquiring an additional 9,782 shares during the last quarter. Institutional investors own 27.91% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on MNMD. Evercore ISI started coverage on Mind Medicine (MindMed) in a research report on Tuesday, January 28th. They issued an “outperform” rating and a $23.00 price objective 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 report on Friday, March 7th. Oppenheimer reiterated an “outperform” rating and issued a $20.00 target price on shares of Mind Medicine (MindMed) in a research note on Tuesday, December 17th. Robert W. Baird lowered their target price on Mind Medicine (MindMed) from $27.00 to $16.00 and set an “outperform” rating on the stock in a research note on Friday, March 7th. Finally, Chardan Capital initiated coverage on Mind Medicine (MindMed) in a research note on Friday, December 20th. They issued a “buy” rating and a $20.00 price objective on the stock. Ten research analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $25.11.

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.