Mind Medicine (MindMed) (NASDAQ:MNMD) Now Covered by Analysts at Roth Mkm

Roth Mkm began coverage on shares of Mind Medicine (MindMed) (NASDAQ:MNMD) in a research report sent to investors on Wednesday morning, MarketBeat.com reports. The firm issued a buy rating and a $36.00 price objective on the stock.

A number of other research firms have also weighed in on MNMD. Robert W. Baird assumed coverage on Mind Medicine (MindMed) in a report on Tuesday, May 28th. They issued an outperform rating and a $27.00 price objective for the company. Royal Bank of Canada restated an outperform rating and issued a $22.00 target price on shares of Mind Medicine (MindMed) in a research report on Wednesday, June 5th. SVB Leerink started coverage on Mind Medicine (MindMed) in a research note on Monday, April 15th. They issued an outperform rating and a $20.00 price target on the stock. Baird R W upgraded Mind Medicine (MindMed) to a strong-buy rating in a research report on Wednesday, May 29th. Finally, Cantor Fitzgerald reissued an overweight rating on shares of Mind Medicine (MindMed) in a research note on Friday, June 21st. Nine analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of Buy and a consensus target price of $22.00.

Mind Medicine (MindMed) Stock Down 0.3 %

NASDAQ:MNMD opened at $9.40 on Wednesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.91 and a quick ratio of 3.91. Mind Medicine has a 1-year low of $2.41 and a 1-year high of $12.22. The company has a 50-day moving average of $7.84 and a 200 day moving average of $7.45. The firm has a market cap of $675.22 million, a PE ratio of -3.20 and a beta of 2.58.

Mind Medicine (MindMed) (NASDAQ:MNMD) last announced its quarterly earnings data on Wednesday, May 8th. The company reported ($0.60) EPS for the quarter, beating the consensus estimate of ($0.66) by $0.06. As a group, research analysts anticipate that Mind Medicine will post -1.35 EPS for the current fiscal year.

Insiders Place Their Bets

In other Mind Medicine (MindMed) news, CEO Robert Barrow sold 15,659 shares of Mind Medicine (MindMed) stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $7.22, for a total transaction of $113,057.98. Following the transaction, the chief executive officer now owns 564,543 shares of the company’s stock, valued at $4,076,000.46. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, CEO Robert Barrow sold 15,659 shares of the company’s stock in a transaction on Tuesday, June 25th. The shares were sold at an average price of $7.22, for a total value of $113,057.98. Following the completion of the sale, the chief executive officer now owns 564,543 shares in the company, valued at approximately $4,076,000.46. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Dan Karlin sold 6,925 shares of the business’s stock in a transaction dated Tuesday, June 25th. The shares were sold at an average price of $7.22, for a total value of $49,998.50. Following the completion of the transaction, the insider now owns 351,527 shares in the company, valued at approximately $2,538,024.94. The disclosure for this sale can be found here. Corporate insiders own 2.26% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. SageView Advisory Group LLC acquired a new position in Mind Medicine (MindMed) during the first quarter worth about $25,000. Jump Financial LLC raised its position in shares of Mind Medicine (MindMed) by 8.3% during the 4th quarter. Jump Financial LLC now owns 36,826 shares of the company’s stock worth $135,000 after purchasing an additional 2,826 shares during the last quarter. Bailard Inc. purchased a new position in Mind Medicine (MindMed) during the fourth quarter worth $63,000. Sequoia Financial Advisors LLC purchased a new position in Mind Medicine (MindMed) during the first quarter worth $168,000. Finally, Mitchell Mcleod Pugh & Williams Inc. acquired a new position in Mind Medicine (MindMed) in the 4th quarter valued at about $73,000. 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, which is in phase I clinical trials for the treatment of core symptoms of autism spectrum disorder.