Mind Medicine (MindMed), Inc. (MNMD)

Mind Medicine (MindMed)'s stock has experienced notable fluctuations over the past six months. The stock's 12-month performance saw a low of $4.70 and a high of $14.30, with recent trading around $12.38. Positive Phase 2b trial results for MM-120 in generalized anxiety disorder and the FDA granting Breakthrough Therapy Designation for MM-120 led to a surge in the stock price, with an increase of over 81% year-to-date and a 14.6% jump on a single day following the FDA designation. The company also initiated its Phase 3 Voyage study for MM-120 in December 2024. Insider activity included sales of company stock by CEO Robert Barrow and Mark Sullivan in September.

As a clinical-stage biopharmaceutical company, Mind Medicine (MindMed), Inc. is currently focused on the research and development of its product candidates, which are not yet commercialized. Therefore, traditional "demand seasonality" for its products and services does not apply in the conventional sense. The company's activities revolve around clinical trials, regulatory milestones, and securing funding, rather than seasonal fluctuations in product sales or service demand.

Mind Medicine (MindMed), Inc. is focused on discovering, developing, and deploying psychedelic-inspired medicines and therapies for conditions in psychiatry, neurology, addiction, and pain. Its lead product candidate, MM-120, is in Phase 3 clinical trials for the treatment of generalized anxiety disorder (GAD) and attention deficit hyperactivity disorder (ADHD). Another key candidate is MM-402 (R-enantiomer of 3,4-methylenedioxymethamphetamine), which is in Phase 1 clinical trials for the treatment of core symptoms of autism spectrum disorder (ASD). Additionally, the company is developing MM-110, an a3ß4 nicotinic cholinergic receptor antagonist that has completed Phase 1 for the treatment of opioid withdrawal.

Mind Medicine (MindMed), Inc. is headquartered in New York, New York, U.S. The company also maintains regional offices in Research Triangle Park, Durham, North Carolina, and Carmel Valley, San Diego, California. Internationally, MindMed has a subsidiary in Basel, Switzerland, known as MindMed Discover, and MindMed Pty Ltd. in Perth, Western Australia.

Mind Medicine (MindMed) generally holds a positive market sentiment, driven by excitement surrounding the potential of psychedelic medicine. While Weiss Ratings has reaffirmed a "Sell (D-)" rating for the stock, other research analysts have issued "Buy" or "Strong Buy" ratings, contributing to a consensus price target of $27.83. The company emphasizes ethical research and transparency in its drug development, which is particularly important given the sensitive nature of psychedelic therapies. MindMed has established a medical advisory board with experts in psychedelic research and ethics, demonstrating its commitment to responsible development.

Institutional investors hold a significant portion of Mind Medicine (MindMed)'s stock, with 295 institutional owners holding a total of 46,447,586 shares. Major institutional owners include BlackRock, Inc., Commodore Capital LP, Blackstone Group Inc., Marshall Wace, Llp, Driehaus Capital Management Llc, Deep Track Capital, LP, Octagon Capital Advisors LP, IWM - iShares Russell 2000 ETF, Vanguard Group Inc, and State Street Corp. Corporate insiders own 2.45% of the company's stock. CEO Robert Barrow sold 25,797 shares in September 2025, and Mark Sullivan also sold 11,278 shares during the same period.