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

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

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 transaction of $16,888.39.

Mind Medicine (MindMed) Stock Down 2.3 %

Shares of NASDAQ MNMD opened at $6.43 on Friday. Mind Medicine has a 52-week low of $5.03 and a 52-week high of $12.22. The company has a debt-to-equity ratio of 0.09, a quick ratio of 9.00 and a current ratio of 9.00. The stock has a market cap of $484.62 million, a P/E ratio of -2.85 and a beta of 2.57. The firm has a 50 day moving average price of $7.28 and a 200 day moving average price of $6.95.

Mind Medicine (MindMed) (NASDAQ:MNMD) last announced its quarterly earnings results on Thursday, March 6th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.33) by ($0.08). During the same quarter in the prior year, the business earned ($0.59) EPS. Analysts expect that Mind Medicine will post -1.35 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on MNMD. Robert W. Baird cut their price target on Mind Medicine (MindMed) from $27.00 to $16.00 and set an “outperform” rating for the company in a report on Friday, March 7th. Evercore ISI started coverage on Mind Medicine (MindMed) in a report on Tuesday, January 28th. They issued an “outperform” rating and a $23.00 target price for the company. Oppenheimer reissued an “outperform” rating and set a $20.00 price target on shares of Mind Medicine (MindMed) in a report on Tuesday, December 17th. Chardan Capital assumed coverage on Mind Medicine (MindMed) in a report on Friday, December 20th. They set a “buy” rating and a $20.00 target price on the stock. Finally, HC Wainwright reissued a “buy” rating and issued a $55.00 price target on shares of Mind Medicine (MindMed) in a report on Friday, March 7th. Ten equities research analysts have rated the stock with a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $25.11.

Institutional Investors Weigh In On Mind Medicine (MindMed)

Several large investors have recently modified their holdings of MNMD. Intech Investment Management LLC bought a new position in shares of Mind Medicine (MindMed) during the 3rd quarter valued at about $134,000. Charles Schwab Investment Management Inc. boosted its stake in Mind Medicine (MindMed) by 8.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 602,544 shares of the company’s stock worth $3,428,000 after purchasing an additional 46,187 shares during the period. MetLife Investment Management LLC bought a new position in Mind Medicine (MindMed) during the 3rd quarter worth about $242,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Mind Medicine (MindMed) by 22.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,226 shares of the company’s stock worth $126,000 after purchasing an additional 4,079 shares in the last quarter. Finally, State Street Corp raised its stake in shares of Mind Medicine (MindMed) by 0.5% in the 3rd quarter. State Street Corp now owns 1,814,829 shares of the company’s stock valued at $10,326,000 after purchasing an additional 9,782 shares during the period. 27.91% of the stock is currently owned by institutional investors.

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.