SVB Leerink started coverage on shares of Mind Medicine (MindMed) (NASDAQ:MNMD – Free Report) in a research report sent to investors on Monday morning, Marketbeat.com reports. The brokerage issued an outperform rating and a $20.00 price objective on the stock.
A number of other brokerages have also issued reports on MNMD. HC Wainwright restated a buy rating and issued a $75.00 price target on shares of Mind Medicine (MindMed) in a research note on Thursday, March 14th. Royal Bank of Canada lifted their price target on shares of Mind Medicine (MindMed) from $14.00 to $15.00 and gave the stock an outperform rating in a research note on Thursday, February 29th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of Buy and an average target price of $25.20.
Read Our Latest Stock Report on Mind Medicine (MindMed)
Mind Medicine (MindMed) Trading Down 3.5 %
Mind Medicine (MindMed) (NASDAQ:MNMD – Get Free Report) last issued its quarterly 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). Equities research analysts predict that Mind Medicine will post -1.7 EPS for the current fiscal year.
Insider Buying and Selling at Mind Medicine (MindMed)
In other Mind Medicine (MindMed) 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 completion of the sale, the chief executive officer now owns 580,202 shares in the company, valued at $5,511,919. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, insider Dan Karlin sold 6,578 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 $62,491.00. Following the completion of the transaction, the insider now owns 358,452 shares of the company’s stock, valued at $3,405,294. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, 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 transaction, the chief executive officer now directly owns 580,202 shares of the company’s stock, valued at approximately $5,511,919. The disclosure for this sale can be found here. 2.11% of the stock is owned by insiders.
Hedge Funds Weigh In On Mind Medicine (MindMed)
Hedge funds and other institutional investors have recently modified their holdings of the company. Royal Bank of Canada boosted its holdings in shares of Mind Medicine (MindMed) by 60.7% during the second quarter. Royal Bank of Canada now owns 7,474 shares of the company’s stock valued at $27,000 after acquiring an additional 2,824 shares during the period. Qube Research & Technologies Ltd acquired a new position in shares of Mind Medicine (MindMed) during the third quarter valued at $28,000. Virtu Financial LLC acquired a new position in shares of Mind Medicine (MindMed) during the first quarter valued at $29,000. Regal Investment Advisors LLC acquired a new stake in Mind Medicine (MindMed) in the third quarter worth about $46,000. Finally, Commonwealth Equity Services LLC bought a new position in Mind Medicine (MindMed) in the 3rd quarter valued at about $53,000. Institutional investors and hedge funds own 27.91% of the company’s stock.
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 for the treatment of core symptoms of autism spectrum disorder.
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