Northern Trust Corp Has $4.77 Million Holdings in Mind Medicine (MindMed) Inc. (NASDAQ:MNMD)

Northern Trust Corp raised its stake in Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) by 12.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 684,836 shares of the company’s stock after purchasing an additional 76,559 shares during the period. Northern Trust Corp’s holdings in Mind Medicine (MindMed) were worth $4,766,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of MNMD. Marshall Wace LLP lifted its stake in shares of Mind Medicine (MindMed) by 9.3% in the fourth quarter. Marshall Wace LLP now owns 2,501,391 shares of the company’s stock valued at $17,410,000 after buying an additional 213,526 shares during the period. Wealthfront Advisers LLC acquired a new position in Mind Medicine (MindMed) in the 4th quarter valued at approximately $717,000. BIT Capital GmbH acquired a new position in Mind Medicine (MindMed) in the 4th quarter valued at approximately $441,000. Geode Capital Management LLC lifted its position in shares of Mind Medicine (MindMed) by 2.7% in the 4th quarter. Geode Capital Management LLC now owns 1,723,088 shares of the company’s stock worth $11,996,000 after acquiring an additional 45,386 shares during the period. Finally, ADAR1 Capital Management LLC acquired a new stake in shares of Mind Medicine (MindMed) during the 4th quarter worth approximately $174,000. 27.91% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Cantor Fitzgerald upgraded Mind Medicine (MindMed) to a “strong-buy” rating in a research note on Tuesday, May 13th. Robert W. Baird dropped their price objective on shares of Mind Medicine (MindMed) from $27.00 to $16.00 and set an “outperform” rating for the company in a research note on Friday, March 7th. Chardan Capital reaffirmed a “buy” rating and set a $20.00 price objective on shares of Mind Medicine (MindMed) in a report on Friday, May 9th. HC Wainwright reissued a “buy” rating and issued a $55.00 target price on shares of Mind Medicine (MindMed) in a research note on Friday, March 7th. Finally, Evercore ISI started 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 for the company. Nine research analysts have rated the stock with a buy rating and four have given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $25.11.

Mind Medicine (MindMed) Price Performance

Shares of Mind Medicine (MindMed) stock opened at $6.94 on Thursday. The stock has a market capitalization of $523.05 million, a price-to-earnings ratio of -3.07 and a beta of 2.52. The firm’s 50-day moving average price is $6.17 and its two-hundred day moving average price is $6.97. The company has a current ratio of 9.00, a quick ratio of 9.00 and a debt-to-equity ratio of 0.09. Mind Medicine has a 1-year low of $4.70 and a 1-year high of $10.44.

Mind Medicine (MindMed) (NASDAQ:MNMD) last released its quarterly earnings results on Thursday, May 8th. The company reported ($0.35) EPS for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.01. On average, equities analysts predict that Mind Medicine will post -1.35 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Robert Barrow sold 21,208 shares of the stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $6.74, for a total transaction of $142,941.92. Following the sale, the chief executive officer now directly owns 856,556 shares of the company’s stock, valued at $5,773,187.44. This represents a 2.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Daniel Karlin sold 6,836 shares of the business’s stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $6.74, for a total transaction of $46,074.64. Following the completion of the transaction, the insider now owns 446,177 shares of the company’s stock, valued at $3,007,232.98. This trade represents a 1.51% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 30,391 shares of company stock valued at $204,835. 2.45% of the stock is currently owned by corporate insiders.

Mind Medicine (MindMed) Company Profile

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.