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

Mitchell Mcleod Pugh & Williams Inc. bought a new position in shares of Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 20,000 shares of the company’s stock, valued at approximately $73,000.

A number of other institutional investors have also added to or reduced their stakes in MNMD. Regal Investment Advisors LLC bought a new position in shares of Mind Medicine (MindMed) during the third quarter valued at approximately $46,000. Commonwealth Equity Services LLC purchased a new stake in Mind Medicine (MindMed) during the third quarter worth $53,000. Bailard Inc. bought a new stake in Mind Medicine (MindMed) during the 4th quarter valued at $63,000. Rathbones Group PLC purchased a new position in shares of Mind Medicine (MindMed) in the 3rd quarter valued at $78,000. Finally, AdvisorShares Investments LLC raised its position in shares of Mind Medicine (MindMed) by 28.5% in the 3rd quarter. AdvisorShares Investments LLC now owns 117,411 shares of the company’s stock worth $367,000 after acquiring an additional 26,047 shares in the last quarter. Hedge funds and other institutional investors own 27.91% of the company’s stock.

Mind Medicine (MindMed) Price Performance

Shares of NASDAQ MNMD opened at $9.03 on Tuesday. Mind Medicine has a fifty-two week low of $2.41 and a fifty-two week high of $12.22. The company has a debt-to-equity ratio of 0.18, a quick ratio of 3.22 and a current ratio of 3.22. The company has a market cap of $634.54 million, a PE ratio of -3.69 and a beta of 2.80. The business has a 50-day simple moving average of $8.55 and a two-hundred day simple moving average of $5.23.

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

Insiders Place Their Bets

In other news, CEO Robert Barrow sold 16,519 shares of the business’s stock in a transaction 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 sale, the chief executive officer now directly owns 580,202 shares of the company’s stock, valued at $5,511,919. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Dan Karlin sold 6,578 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 value of $62,491.00. Following the transaction, the insider now owns 358,452 shares in the company, valued at approximately $3,405,294. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Robert Barrow sold 16,519 shares of Mind Medicine (MindMed) 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 sale, the chief executive officer now owns 580,202 shares of the company’s stock, valued at $5,511,919. The disclosure for this sale can be found here. Corporate insiders own 2.11% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Mind Medicine (MindMed) Company 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.