Avoro Capital Advisors Reduces Its Stake in MNMD ($MNMD)

Avoro Capital Advisors has fully exited its stake in MNMD, selling all 5 million shares.

Written by Trueearnings · Published Jun 13, 2026, 5:36 AM EDT · Updated Jun 14, 2026, 4:55 AM EDT

Key Points

Avoro Capital Advisors sold its entire 5 million share stake in MNMD, as indicated in its latest 13F filing.
Other funds like State Street Corp and UBS Asset Management also reduced their MNMD holdings to zero shares.
Analysts from firms like Jones Trading and Canaccord Genuity maintain a 'buy' rating on MNMD with price targets up to $61.

Avoro Capital Advisors has completely exited its position in MNMD, according to its latest Form 13F filing with the SEC. The fund sold all of its 5 million shares, representing a 100% reduction in its holdings.

What Changed in Avoro Capital Advisors's MNMD Position

Avoro Capital Advisors previously held 5 million shares of MNMD but decided to sell its entire stake. This move means the fund no longer holds any shares in the company.

Other Institutional Activity in MNMD

Several other institutional investors also adjusted their positions in MNMD. State Street Corp reduced its holdings by 2,368,066 shares, bringing its total to zero. UBS Asset Management Americas LLC cut its position by 894 shares, also ending with no shares. Similarly, Rafferty Asset Management, LLC, the State of Wisconsin Investment Board, and Marex Group PLC all sold out of their positions, reducing their holdings to zero.

Insider Buying and Selling at MNMD

On December 26, 2025, several insiders sold shares of MNMD. Mark Sullivan, Chief Legal Officer, sold 11,276 shares at an average price of $13.15. Daniel Karlin, Chief Medical Officer, sold 5,600 shares at a similar price. Robert Barrow also sold 25,791 shares, all under planned transactions.

Analysts Set New Price Targets

Analysts remain optimistic about MNMD. On December 23, 2025, Jones Trading initiated coverage with a 'buy' rating and a $61 price target. Canaccord Genuity and RBC Capital maintained their 'buy' ratings with targets of $25 and $20, respectively, on November 7, 2025. Overall, the consensus is a 'buy' with a mean target price reflecting positive sentiment.

Bottom Line

Avoro Capital Advisors's decision to sell its entire stake in MNMD marks a significant change in its investment strategy. Such moves are closely watched by investors, though it's important to remember that 13F filings are backward-looking and might not reflect current positions. Meanwhile, analysts continue to have a favorable outlook on MNMD, suggesting potential growth opportunities.