Streetbeat News

MNMD

Mind Medicine (MindMed) Inc.

https://www.mindmed.co

Industry

Biotechnology

Mind Medicine (MindMed) Inc., a clinical stage biopharmaceutical company, develops novel products to treat brain health disorders related to psychiatry, addiction, pain, and neurology. The company develops MM-120, which is in phase 2 for the treatment of generalized anxiety disorder and attention deficit hyperactivity disorder, as well as for the treatment of chronic pain; and MM-110, an a3ß4 nicotinic cholinergic receptor antagonist that has completed phase 1 for the treatment of opioid withdrawal. It also develops MM-402, a R-enantiomer of 3,4-methylenedioxymethamphetamine for the treatment of core symptoms of autism spectrum disorder. The company is headquartered in Vancouver, Canada.

Open

7.69

Mkt cap

625M

Volume

4.6M

High

9.15

P/E Ratio

-4.16

52-wk high

12.22

Low

7.65

Div yield

N/A

52-wk low

2.41

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Portfolio Pulse from Benzinga Newsdesk

June 12, 2024 | 6:07 pm

FDA advisors rejected MDMA for PTSD treatment, causing a significant drop in psychedelic stocks. Cybin Inc (CYBN), Mind Medicine (MNMD), ATAI Life Sciences (ATAI), and AdvisorShares Psychedelics ETF (PSIL) all saw declines. The ruling is a setback for the industry, though the FDA is not bound by the advisory board's recommendation.

Portfolio Pulse from Aaron Bry

June 05, 2024 | 7:26 pm

Lands' End, Inc. (NASDAQ:LE) shares fell 9.3% to $12.60 after reporting a quarterly adjusted loss of 20 cents per share, which beat the analyst consensus estimate of 26 cents per share. The company also reported quarterly sales of $285.47 million, surpassing the analyst consensus estimate of $269.82 million. Other notable stock movements include Actelis Networks, Inc. (NASDAQ:ASNS) jumping 512% after announcing orders for cyber-hardened networking technology, and WalkMe Ltd. (NASDAQ:WKME) gaining 42.1% after entering into a definitive agreement to be acquired by SAP.

Portfolio Pulse from Avi Kapoor

June 05, 2024 | 5:04 pm

Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) shares are trading lower after the FDA panel rejected the approval of MDMA therapy for PTSD. Other psychedelic stocks, including ATAI Life Sciences N.V (NASDAQ:ATAI) and COMPASS Pathways Plc (NASDAQ:CMPS), are also down. The FDA panel expressed concerns about the study designs submitted by Lykos Therapeutics.

Portfolio Pulse from Erica Kollmann

June 05, 2024 | 2:58 pm

RBC Capital analyst Brian Abrahams has reiterated an Outperform rating on Mind Medicine (NASDAQ:MNMD) and maintained a price target of $22.

Portfolio Pulse from Benzinga Newsdesk

June 05, 2024 | 2:47 pm

Shares of psychedelics companies are trading lower after an FDA panel rejected the approval of MDMA therapy for PTSD.

Portfolio Pulse from Benzinga Newsdesk

June 05, 2024 | 12:26 pm

DouYu International Holdings Limited (NASDAQ:DOYU) reported a significant revenue decline for Q1 2024, missing analyst estimates, leading to a 4.2% drop in pre-market trading. Other stocks like COMPASS Pathways, Mind Medicine, Madrigal Pharmaceuticals, Annexon, Integral Ad Science, Dollar Tree, and AMC Entertainment also saw declines in pre-market trading.

Portfolio Pulse from Avi Kapoor

June 05, 2024 | 12:07 pm

Stitch Fix (NASDAQ:SFIX) shares surged 18% in pre-market trading after reporting better-than-expected Q3 financial results. Other notable pre-market movers include Actelis Networks (NASDAQ:ASNS) up 794%, mF International (NASDAQ:MFI) up 108.4%, and Hewlett Packard Enterprise (NYSE:HPE) up 14.7%.

Portfolio Pulse from Avi Kapoor

June 05, 2024 | 9:27 am

Baird analyst Joel Beatty has initiated coverage on Mind Medicine (NASDAQ:MNMD) with an Outperform rating and set a price target of $27.

Portfolio Pulse from Benzinga Newsdesk

May 28, 2024 | 8:25 pm

HC Wainwright & Co. has reiterated its Buy rating on Mind Medicine (NASDAQ:MNMD) and maintained a $35 price target, as stated by analyst Patrick Trucchio.

Portfolio Pulse from Benzinga Newsdesk

May 24, 2024 | 4:09 pm

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