Mitchell Mcleod Pugh & Williams Inc. Makes New Investment in Mind Medicine (MindMed) Inc. (NASDAQ:MNMD)

Mitchell Mcleod Pugh & Williams Inc. purchased a new stake in Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) in the fourth quarter, HoldingsChannel reports. The firm purchased 20,000 shares of the company’s stock, valued at approximately $73,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Regal Investment Advisors LLC acquired a new position in shares of Mind Medicine (MindMed) during the 3rd quarter worth approximately $46,000. Commonwealth Equity Services LLC purchased a new position in Mind Medicine (MindMed) during the third quarter worth $53,000. Bailard Inc. acquired a new position in shares of Mind Medicine (MindMed) in the fourth quarter worth $63,000. Rathbones Group PLC acquired a new position in shares of Mind Medicine (MindMed) in the third quarter worth $78,000. Finally, Jump Financial LLC purchased a new stake in shares of Mind Medicine (MindMed) in the third quarter valued at $106,000. Institutional investors and hedge funds own 27.91% of the company’s stock.

Mind Medicine (MindMed) Stock Up 6.0 %

MNMD opened at $9.03 on Tuesday. The stock has a market capitalization of $634.54 million, a price-to-earnings ratio of -3.69 and a beta of 2.80. Mind Medicine has a 12 month low of $2.41 and a 12 month high of $12.22. The company has a debt-to-equity ratio of 0.18, a current ratio of 3.22 and a quick ratio of 3.22. The business has a 50-day moving average of $8.55 and a two-hundred day moving average of $5.23.

Mind Medicine (MindMed) (NASDAQ:MNMD) last released its earnings results on Wednesday, February 28th. The company reported ($0.59) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.11). On average, research analysts expect that Mind Medicine will post -1.72 earnings per share for the current year.

Analyst Upgrades and Downgrades

MNMD has been the subject of a number of recent research reports. SVB Leerink initiated coverage on Mind Medicine (MindMed) in a research report on Monday, April 15th. They set an “outperform” rating and a $20.00 price objective for the company. HC Wainwright reiterated a “buy” rating and set a $75.00 price target on shares of Mind Medicine (MindMed) in a report on Thursday, March 14th. Royal Bank of Canada upped their price objective on shares of Mind Medicine (MindMed) from $14.00 to $15.00 and gave the company an “outperform” rating in a research note on Thursday, February 29th. Finally, Leerink Partnrs restated an “outperform” rating on shares of Mind Medicine (MindMed) in a research report on Monday, April 15th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Mind Medicine (MindMed) has an average rating of “Buy” and a consensus price target of $25.20.

Insider Buying and Selling at Mind Medicine (MindMed)

In related news, CEO Robert Barrow sold 16,519 shares of Mind Medicine (MindMed) stock in a transaction on Monday, March 25th. The stock was sold at an average price of $9.50, for a total value of $156,930.50. Following the transaction, the chief executive officer now owns 580,202 shares in the company, valued at $5,511,919. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Robert Barrow sold 16,519 shares of the stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $9.50, for a total transaction of $156,930.50. Following the completion of the sale, the chief executive officer now owns 580,202 shares of the company’s stock, valued at approximately $5,511,919. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Dan Karlin sold 6,578 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $9.50, for a total transaction of $62,491.00. Following the completion of the transaction, the insider now owns 358,452 shares in the company, valued at approximately $3,405,294. The disclosure for this sale can be found here. 2.11% of the stock is owned by company insiders.

Mind Medicine (MindMed) 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 for the treatment of core symptoms of autism spectrum disorder.