Diadema Partners LP Makes New Investment in Mind Medicine (MindMed) Inc. $MNMD

Diadema Partners LP acquired a new stake in Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 158,536 shares of the company’s stock, valued at approximately $1,029,000. Diadema Partners LP owned about 0.21% of Mind Medicine (MindMed) as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Marshall Wace LLP grew its position in Mind Medicine (MindMed) by 31.9% in the second quarter. Marshall Wace LLP now owns 3,421,224 shares of the company’s stock valued at $22,204,000 after purchasing an additional 828,067 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Mind Medicine (MindMed) by 4.0% during the 2nd quarter. Geode Capital Management LLC now owns 1,733,454 shares of the company’s stock worth $11,252,000 after buying an additional 66,663 shares during the last quarter. AWM Investment Company Inc. grew its holdings in shares of Mind Medicine (MindMed) by 1.3% in the 1st quarter. AWM Investment Company Inc. now owns 1,208,162 shares of the company’s stock valued at $7,068,000 after acquiring an additional 15,000 shares in the last quarter. Ally Bridge Group NY LLC increased its position in shares of Mind Medicine (MindMed) by 18.1% in the first quarter. Ally Bridge Group NY LLC now owns 390,143 shares of the company’s stock valued at $2,282,000 after acquiring an additional 59,868 shares during the last quarter. Finally, Nuveen LLC bought a new stake in Mind Medicine (MindMed) during the first quarter worth about $1,556,000. Institutional investors own 27.91% of the company’s stock.

Insider Activity at Mind Medicine (MindMed)

In other Mind Medicine (MindMed) news, CEO Robert Barrow sold 25,797 shares of the firm’s stock in a transaction dated Thursday, September 25th. The shares were sold at an average price of $9.77, for a total value of $252,036.69. Following the transaction, the chief executive officer directly owned 804,268 shares of the company’s stock, valued at $7,857,698.36. This trade represents a 3.11% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Daniel Karlin sold 7,704 shares of the business’s stock in a transaction that occurred on Thursday, September 25th. The shares were sold at an average price of $9.77, for a total transaction of $75,268.08. Following the completion of the transaction, the insider owned 430,625 shares of the company’s stock, valued at $4,207,206.25. The trade was a 1.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 44,779 shares of company stock valued at $437,491 over the last quarter. 2.26% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on MNMD shares. Lifesci Capital upgraded Mind Medicine (MindMed) to a “strong-buy” rating in a research note on Tuesday, October 14th. Canaccord Genuity Group raised their target price on shares of Mind Medicine (MindMed) from $16.00 to $25.00 and gave the company a “buy” rating in a research note on Friday, November 7th. Needham & Company LLC set a $28.00 price target on shares of Mind Medicine (MindMed) and gave the stock a “buy” rating in a research report on Monday, October 13th. Chardan Capital upgraded shares of Mind Medicine (MindMed) to a “strong-buy” rating in a research note on Wednesday, November 19th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Mind Medicine (MindMed) in a research note on Wednesday, October 8th. Three analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $26.50.

Mind Medicine (MindMed) Trading Down 3.8%

Shares of MNMD stock opened at $12.50 on Wednesday. Mind Medicine has a 12-month low of $4.70 and a 12-month high of $14.43. The company has a market capitalization of $1.23 billion, a PE ratio of -6.13 and a beta of 2.57. The firm has a 50 day moving average price of $12.22 and a two-hundred day moving average price of $9.94. The company has a quick ratio of 3.30, a current ratio of 3.30 and a debt-to-equity ratio of 0.31.

Mind Medicine (MindMed) (NASDAQ:MNMD) last announced its earnings results on Thursday, November 6th. The company reported ($0.78) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.52) by ($0.26). As a group, analysts predict that Mind Medicine will post -1.35 earnings per share for the current year.

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.