CreativeOne Wealth LLC Cuts Stock Position in Mind Medicine (MindMed) Inc. (NASDAQ:MNMD)

CreativeOne Wealth LLC lessened its stake in Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) by 26.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,462 shares of the company’s stock after selling 4,382 shares during the period. CreativeOne Wealth LLC’s holdings in Mind Medicine (MindMed) were worth $71,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Tri Locum Partners LP lifted its stake in shares of Mind Medicine (MindMed) by 0.6% in the 2nd quarter. Tri Locum Partners LP now owns 382,055 shares of the company’s stock valued at $2,755,000 after acquiring an additional 2,459 shares during the last quarter. Cubist Systematic Strategies LLC lifted its stake in shares of Mind Medicine (MindMed) by 24.1% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 35,508 shares of the company’s stock valued at $256,000 after acquiring an additional 6,890 shares during the last quarter. Bridgewealth Advisory Group LLC bought a new stake in shares of Mind Medicine (MindMed) in the 2nd quarter valued at about $72,000. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Mind Medicine (MindMed) in the 3rd quarter valued at about $58,000. Finally, Wealth Alliance bought a new stake in shares of Mind Medicine (MindMed) in the 2nd quarter valued at about $79,000. Institutional investors own 27.91% of the company’s stock.

Insider Buying and Selling at Mind Medicine (MindMed)

In other news, CEO Robert Barrow sold 19,771 shares of the stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $5.98, for a total transaction of $118,230.58. Following the transaction, the chief executive officer now directly owns 545,772 shares of the company’s stock, valued at $3,263,716.56. This represents a 3.50 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Dan Karlin sold 6,871 shares of the stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $5.98, for a total value of $41,088.58. Following the transaction, the insider now directly owns 344,656 shares in the company, valued at $2,061,042.88. The trade was a 1.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 28,994 shares of company stock worth $173,384. Insiders own 2.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on MNMD shares. Leerink Partners started coverage on Mind Medicine (MindMed) in a research report on Monday, October 14th. They set an “outperform” rating and a $20.00 price target for the company. Canaccord Genuity Group lowered their price target on Mind Medicine (MindMed) from $16.00 to $14.00 and set a “buy” rating for the company in a research report on Monday, September 16th. HC Wainwright reaffirmed a “buy” rating and set a $55.00 price target on shares of Mind Medicine (MindMed) in a research report on Monday, November 11th. Finally, Leerink Partnrs raised Mind Medicine (MindMed) to a “strong-buy” rating in a research report on Friday, October 11th. Nine analysts have rated the stock with a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $25.38.

Mind Medicine (MindMed) Price Performance

Shares of MNMD opened at $7.49 on Wednesday. The business’s fifty day simple moving average is $6.67 and its two-hundred day simple moving average is $7.08. 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 12 month low of $2.92 and a 12 month high of $12.22.

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.