Mind Medicine (MindMed) (NASDAQ:MNMD) Now Covered by Analysts at Chardan Capital

by · The Markets Daily

Equities research analysts at Chardan Capital initiated coverage on shares of Mind Medicine (MindMed) (NASDAQ:MNMD – Get Free Report) in a report released on Friday, MarketBeat.com reports. The firm set a “buy” rating and a $20.00 price target on the stock. Chardan Capital’s price objective would indicate a potential upside of 179.33% from the company’s previous close.

MNMD has been the topic of a number of other research reports. Canaccord Genuity Group dropped their price target on shares of Mind Medicine (MindMed) from $16.00 to $14.00 and set a “buy” rating on the stock in a research note on Monday, September 16th. HC Wainwright reiterated a “buy” rating and issued a $55.00 target price on shares of Mind Medicine (MindMed) in a research report on Monday, November 11th. Oppenheimer restated an “outperform” rating and set a $20.00 price target on shares of Mind Medicine (MindMed) in a research report on Tuesday, December 17th. Leerink Partners began coverage on Mind Medicine (MindMed) in a report on Monday, October 14th. They issued an “outperform” rating and a $20.00 price objective on the stock. Finally, Leerink Partnrs raised Mind Medicine (MindMed) to a “strong-buy” rating in a report on Friday, October 11th. Nine investment analysts have rated the stock with a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of $26.75.

View Our Latest Analysis on MNMD

Mind Medicine (MindMed) Stock Up 2.1 %

Shares of MNMD opened at $7.16 on Friday. The firm has a market cap of $525.06 million, a P/E ratio of -3.17 and a beta of 2.58. Mind Medicine has a 12 month low of $3.37 and a 12 month high of $12.22. The stock’s 50 day moving average is $7.15 and its two-hundred day moving average is $6.99. The company has a current ratio of 9.00, a quick ratio of 9.00 and a debt-to-equity ratio of 0.09.

Insider Activity at Mind Medicine (MindMed)

In other Mind Medicine (MindMed) news, insider Dan Karlin sold 6,871 shares of Mind Medicine (MindMed) stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $5.98, for a total transaction of $41,088.58. Following the transaction, the insider now directly owns 344,656 shares of the company’s stock, valued at $2,061,042.88. The trade was a 1.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Robert Barrow sold 19,771 shares of the business’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $5.98, for a total transaction of $118,230.58. Following the completion of the transaction, the chief executive officer now owns 545,772 shares in the company, valued at $3,263,716.56. The trade was a 3.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 28,994 shares of company stock valued at $173,384. 2.26% of the stock is currently owned by insiders.

Institutional Trading of Mind Medicine (MindMed)

Several institutional investors have recently made changes to their positions in the company. Bank of New York Mellon Corp grew its position in Mind Medicine (MindMed) by 472.7% in the second quarter. Bank of New York Mellon Corp now owns 246,208 shares of the company’s stock worth $1,775,000 after acquiring an additional 203,216 shares during the period. Geode Capital Management LLC lifted its stake in shares of Mind Medicine (MindMed) by 10.8% in the 3rd quarter. Geode Capital Management LLC now owns 1,677,702 shares of the company’s stock valued at $9,548,000 after purchasing an additional 162,933 shares during the last quarter. Marshall Wace LLP grew its holdings in shares of Mind Medicine (MindMed) by 8.1% during the 2nd quarter. Marshall Wace LLP now owns 2,160,203 shares of the company’s stock worth $15,575,000 after purchasing an additional 161,659 shares during the period. Wellington Management Group LLP increased its position in shares of Mind Medicine (MindMed) by 142.6% during the 3rd quarter. Wellington Management Group LLP now owns 185,722 shares of the company’s stock worth $1,057,000 after purchasing an additional 109,152 shares during the last quarter. Finally, Rhumbline Advisers purchased a new stake in Mind Medicine (MindMed) in the 2nd quarter valued at about $679,000. Hedge funds and other institutional investors own 27.91% of the company’s stock.

Mind Medicine (MindMed) Company Profile

(Get Free Report)

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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