Mind Medicine (MindMed) Inc. (NASDAQ:MNMD - Get Free Report) has received a consensus rating of "Buy" from the thirteen ratings firms that are covering the company, Marketbeat Ratings reports. Ten investment analysts have rated the stock with a buy recommendation and three have assigned a strong buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $26.33.
MNMD has been the topic of several analyst reports. Evercore ISI assumed coverage on shares of Mind Medicine (MindMed) in a research note on Tuesday, January 28th. They set an "outperform" rating and a $23.00 price target on the stock. HC Wainwright reiterated a "buy" rating and set a $55.00 target price on shares of Mind Medicine (MindMed) in a research report on Friday, January 31st. Chardan Capital started coverage on Mind Medicine (MindMed) in a research report on Friday, December 20th. They issued a "buy" rating and a $20.00 price target for the company. Finally, Oppenheimer reaffirmed an "outperform" rating and issued a $20.00 price objective on shares of Mind Medicine (MindMed) in a research note on Tuesday, December 17th.
Read Our Latest Report on Mind Medicine (MindMed)
MNMD opened at $6.07 on Friday. The company's 50 day moving average is $7.48 and its 200 day moving average is $6.91. The company has a current ratio of 9.00, a quick ratio of 9.00 and a debt-to-equity ratio of 0.09. The company has a market cap of $445.13 million, a price-to-earnings ratio of -2.69 and a beta of 2.59. Mind Medicine has a 12-month low of $5.03 and a 12-month high of $12.22.
In other Mind Medicine (MindMed) news, insider Dan Karlin sold 6,643 shares of the stock in a transaction dated Thursday, December 26th. The shares were sold at an average price of $7.43, for a total transaction of $49,357.49. Following the completion of the transaction, the insider now owns 338,013 shares of the company's stock, valued at $2,511,436.59. This represents a 1.93 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Robert Barrow sold 19,106 shares of the firm's stock in a transaction dated Thursday, December 26th. The shares were sold at an average price of $7.43, for a total value of $141,957.58. Following the transaction, the chief executive officer now owns 526,666 shares of the company's stock, valued at approximately $3,913,128.38. The trade was a 3.50 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 28,022 shares of company stock valued at $208,203. Corporate insiders own 2.26% of the company's stock.
Large investors have recently added to or reduced their stakes in the company. Diadema Partners LP purchased a new position in shares of Mind Medicine (MindMed) in the fourth quarter valued at $33,000. Hollencrest Capital Management lifted its position in Mind Medicine (MindMed) by 10,833.3% during the fourth quarter. Hollencrest Capital Management now owns 7,216 shares of the company's stock valued at $50,000 after purchasing an additional 7,150 shares during the last quarter. King Wealth Management Group bought a new position in Mind Medicine (MindMed) during the fourth quarter valued at $70,000. Virtus ETF Advisers LLC purchased a new position in shares of Mind Medicine (MindMed) in the 4th quarter worth $70,000. Finally, Sharpepoint LLC bought a new stake in shares of Mind Medicine (MindMed) in the 4th quarter worth about $71,000. Institutional investors own 27.91% of the company's stock.
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.
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