Institutional ownership is generally a good sign, in most cases. I'm not sure that everyone would be impressed that they are the largest holding of AdvisorShares Psychedelics ETF. I do think there is a pretty good case that 1. some of the products being developed by MNMD are likely to have significant and profitable markets in the future 2. the stock has a better than average chance of increasing in price over time - perhaps dramatically so. It seems like a reasonable bet for people who have speculative money to invest, or, as I personally tend to think of it, a certain amount of 'play money' that I'm not relying on for any future purpose. As I've mentioned before, I do have a small holding and will probably add to it on dips, given the opportunity.
Just a little interesting note. David Gryska, Board Director, Chair of Audit Committee for MindMed increased his shares by 20% as of 8/23 See here: https://d1io3yog0oux5.cloudfront.net/sec/0000950170-24-100668/0000950170-24-100668.pdf What is interesting is that he sat on the board for Seagen, Inc. (NASDAQ: SGEN)... SGEN was bought out on December 14th, 2023 by Pfizer. It was a $43 billion deal --- https://mindmed.co/team/david-gryska/ Mr. Gryska possesses decades of experience as a C-suite executive and director at a number of leading public biopharmaceutical companies. He most recently served as Executive Vice President and Chief Financial Officer of Incyte Corporation, a biopharmaceutical company (NASDAQ: INCY). Additionally, Mr. Gryska served as Chief Operating Officer of Myrexis, Inc., a biopharmaceutical company as well as Senior Vice President and Chief Financial Officer of Celgene Corporation, a former publicly traded biopharmaceutical company acquired by Bristol-Myers Squibb Company. Previously, Mr. Gryska served at Scios Inc., a former publicly traded biopharmaceutical company acquired by Johnson & Johnson, as Senior Vice President and Chief Financial Officer. Mr. Gryska also served as Vice President, Finance and Chief Financial Officer at Cardiac Pathways Corporation, a former publicly traded medical device company acquired by Boston Scientific Corporation. Prior to Cardiac Pathways, Mr. Gryska served as a partner at Ernst & Young LLP in California. Mr. Gryska currently serves on the boards of directors of biopharmaceutical companies Seagen, Inc. (NASDAQ: SGEN) and Forte Biosciences, Inc. (NASDAQ: FBRX).
It's a good sign that insiders are increasing their stake - obviously. The bad news that broke recently is that Lykos, MDMN or any other company that is pursuing MDMA-based/related FDA drug approval(s) is going to have a very rough road to navigate after the latest recommendations from its advisory panel on the Lykos MDMA trials. Good news for other companies in this arena is that some - not necessarily most - of the negative findings were specific to either Lykos or these particular trials. The best news as I understand it for MNMD (based on my admittedly very limited knowledge!) is that their biggest plans are not around MDMA-class drugs. In which case the dip caused by this news might once again represent a buying opportunity.
H.C. Wainwright adjusted its outlook on MindMed (NASDAQ:MNMD) stock, increasing the price target to $55 from the previous $35 while reaffirming a Buy rating https://www.investing.com/news/comp...utlook-cites-mdd-trial-expansion-93CH-3592893
back at pre fda announcement levels. Accumulation zone for me. Perfect entry time for the next wave up. price action will be incredible as we inch through the next year from here with anticipation of phase 3 results.
Pharmacological and non-pharmacological predictors of the LSD experience in healthy participants https://www.nature.com/articles/s41398-024-03074-9
This study explored pharmacological and extra-pharmacological predictors of the LSD experience. While dose emerged as the most influential factor, traits like 'Openness to Experience', mood, and pre-drug mental states (e.g., anxiety, emotional excitability) also significantly impacted subjective effects. Sex and body weight? Not so much. Based on 9 double-blind, placebo-controlled studies with 213 participants, this research offers a deeper understanding of what shapes the LSD experience. More data from University Hospital Basel is only good as we move into Phase 3 and (fingers crossed) commercialization / buyout)... plus this data was licensed by MindMed.
