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Is Mind Medicine (MindMed) Inc. (MNMD) a Keeper?

Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) went down by -4.98% from its latest closing price compared to the recent 1-year high of $3.19. The company’s stock price has collected -5.57% of loss in the last five trading sessions.

Is It Worth Investing in Mind Medicine (MindMed) Inc. (NASDAQ :MNMD) Right Now?

Opinions of the stock are interesting as 5 analysts out of 5 who provided ratings for Mind Medicine (MindMed) Inc. declared the stock was a “buy,” while 0 rated the stock as “overweight,” 0 rated it as “hold,” and 0 as “sell.”

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The average price from analysts is $5.67. MNMD currently public float of 371.77M and currently shorts hold a 8.67% ratio of that float. Today, the average trading volume of MNMD was 2.85M shares.

MNMD’s Market Performance

MNMD stocks went down by -5.57% for the week, with a monthly jump of 3.12% and a quarterly performance of -17.49%, while its annual performance rate touched -78.43%. The volatility ratio for the week stands at 4.34% while the volatility levels for the past 30 days are set at 7.62% for Mind Medicine (MindMed) Inc. The simple moving average for the period of the last 20 days is -3.89% for MNMD stocks with a simple moving average of -48.40% for the last 200 days.

Analysts’ Opinion of MNMD

Many brokerage firms have already submitted their reports for MNMD stocks, with ROTH Capital repeating the rating for MNMD by listing it as a “Buy.” The predicted price for MNMD in the upcoming period, according to ROTH Capital is $7 based on the research report published on May 04th of the current year 2022.

Maxim Group, on the other hand, stated in their research note that they expect to see MNMD reach a price target of $6. The rating they have provided for MNMD stocks is “Buy” according to the report published on June 28th, 2021.

MNMD Trading at -12.04% from the 50-Day Moving Average

After a stumble in the market that brought MNMD to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -79.31% of loss for the given period.

Volatility was left at 7.62%, however, over the last 30 days, the volatility rate increased by 4.34%, as shares surge +13.22% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -7.63% lower at present.

During the last 5 trading sessions, MNMD fell by -5.57%, which changed the moving average for the period of 200-days by -71.17% in comparison to the 20-day moving average, which settled at $0.6907. In addition, Mind Medicine (MindMed) Inc. saw -52.17% in overturn over a single year, with a tendency to cut further losses.

Insider Trading

Reports are indicating that there were more than several insider trading activities at MNMD starting from Karlin Dan, who sale 9,856 shares at the price of $0.69 back on Jul 27. After this action, Karlin Dan now owns 4,033,264 shares of Mind Medicine (MindMed) Inc., valued at $6,801 using the latest closing price.

Karlin Dan, the Chief Medical Officer of Mind Medicine (MindMed) Inc., sale 8,361 shares at $0.69 during a trade that took place back on Jul 25, which means that Karlin Dan is holding 4,043,120 shares at $5,769 based on the most recent closing price.

Stock Fundamentals for MNMD

The liquidity ratio also appears to be rather interesting for investors as it stands at 13.18.

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