Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) CAO Carrie Liao Sells 2,273 Shares

Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) CAO Carrie Liao sold 2,273 shares of the company’s stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $7.43, for a total transaction of $16,888.39. Following the completion of the sale, the chief accounting officer now directly owns 97,270 shares in the company, valued at approximately $722,716.10. The trade was a 2.28 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Mind Medicine (MindMed) Price Performance

Shares of MNMD stock opened at $6.84 on Monday. The company has a quick ratio of 9.00, a current ratio of 9.00 and a debt-to-equity ratio of 0.09. Mind Medicine has a 12 month low of $3.49 and a 12 month high of $12.22. The firm has a market cap of $501.59 million, a price-to-earnings ratio of -3.03 and a beta of 2.58. The stock has a 50-day moving average price of $7.25 and a 200 day moving average price of $6.97.

Institutional Investors Weigh In On Mind Medicine (MindMed)

Several institutional investors have recently modified their holdings of the business. Bank of New York Mellon Corp boosted its stake in Mind Medicine (MindMed) by 472.7% in the second 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 during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Mind Medicine (MindMed) in the 2nd quarter worth $131,000. Rhumbline Advisers acquired a new stake in shares of Mind Medicine (MindMed) during the second quarter worth $679,000. Arizona State Retirement System bought a new stake in Mind Medicine (MindMed) in the second quarter valued at about $114,000. Finally, AdvisorShares Investments LLC lifted its stake in Mind Medicine (MindMed) by 13.4% in the second quarter. AdvisorShares Investments LLC now owns 124,166 shares of the company’s stock valued at $878,000 after buying an additional 14,659 shares during the period. Institutional investors and hedge funds own 27.91% of the company’s stock.

Analyst Upgrades and Downgrades

MNMD has been the topic of a number of recent analyst reports. Leerink Partnrs upgraded shares of Mind Medicine (MindMed) to a “strong-buy” rating in a research report on Friday, October 11th. HC Wainwright restated a “buy” rating and set a $55.00 price target on shares of Mind Medicine (MindMed) in a research report on Monday, November 11th. Chardan Capital assumed coverage on Mind Medicine (MindMed) in a report on Friday, December 20th. They set a “buy” rating and a $20.00 price target for the company. Leerink Partners initiated coverage on Mind Medicine (MindMed) in a research note on Monday, October 14th. They issued an “outperform” rating and a $20.00 price objective on the stock. Finally, Oppenheimer restated an “outperform” rating and issued a $20.00 target price on shares of Mind Medicine (MindMed) in a research note on Tuesday, December 17th. Nine analysts have rated the stock with a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Mind Medicine (MindMed) currently has a consensus rating of “Buy” and an average price target of $26.75.

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.