Sequoia Financial Advisors LLC Purchases New Position in Mind Medicine (MindMed) Inc. (NASDAQ:MNMD)

Sequoia Financial Advisors LLC purchased a new stake in Mind Medicine (MindMed) Inc. (NASDAQ:MNMDFree Report) in the first quarter, HoldingsChannel reports. The fund purchased 17,912 shares of the company’s stock, valued at approximately $168,000.

A number of other institutional investors have also recently made changes to their positions in the business. Scotia Capital Inc. bought a new position in shares of Mind Medicine (MindMed) in the 4th quarter valued at about $441,000. Citigroup Inc. bought a new position in shares of Mind Medicine (MindMed) in the 3rd quarter valued at about $273,000. Jump Financial LLC raised its position in Mind Medicine (MindMed) by 8.3% in 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 period. Mitchell Mcleod Pugh & Williams Inc. purchased a new stake in Mind Medicine (MindMed) in the 4th quarter worth about $73,000. Finally, Bailard Inc. purchased a new stake in Mind Medicine (MindMed) in the 4th quarter worth about $63,000. Institutional investors own 27.91% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on MNMD. Leerink Partnrs reissued an “outperform” rating on shares of Mind Medicine (MindMed) in a research report on Monday, April 15th. HC Wainwright reissued a “buy” rating and issued a $35.00 price objective on shares of Mind Medicine (MindMed) in a research report on Friday, May 24th. Baird R W raised shares of Mind Medicine (MindMed) to a “strong-buy” rating in a research report on Wednesday, May 29th. Royal Bank of Canada reissued an “outperform” rating and issued a $22.00 price objective on shares of Mind Medicine (MindMed) in a research report on Wednesday, June 5th. Finally, Oppenheimer reissued an “outperform” rating and issued a $20.00 price objective (down from $29.00) on shares of Mind Medicine (MindMed) in a research report on Monday, May 13th. Eight research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $20.00.

Check Out Our Latest Stock Report on MNMD

Insider Activity at Mind Medicine (MindMed)

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

Mind Medicine (MindMed) Stock Performance

Shares of NASDAQ:MNMD opened at $7.10 on Thursday. The firm has a market cap of $510.28 million, a PE ratio of -2.41 and a beta of 2.58. The firm’s 50 day simple moving average is $8.01 and its 200-day simple moving average is $7.07. Mind Medicine has a one year low of $2.41 and a one year high of $12.22. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.91 and a current ratio of 3.91.

Mind Medicine (MindMed) (NASDAQ:MNMDGet Free Report) last issued its earnings results on Wednesday, May 8th. The company reported ($0.60) EPS for the quarter, topping analysts’ consensus estimates of ($0.66) by $0.06. As a group, equities analysts predict that Mind Medicine will post -1.36 EPS for the current year.

Mind Medicine (MindMed) Company Profile

(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.

Further Reading

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Institutional Ownership by Quarter for Mind Medicine (MindMed) (NASDAQ:MNMD)

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