Mind Medicine Inc’s (MNMD) Stock: A 61.03% Annual Performance Rate

In the past week, MNMD stock has gone up by 20.99%, with a monthly gain of 91.19% and a quarterly surge of 229.56%. The volatility ratio for the week is 8.63%, and the volatility levels for the last 30 days are 13.44% for Mind Medicine Inc The simple moving average for the past 20 days is 32.28% for MNMD’s stock, with a 179.28% simple moving average for the past 200 days.

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

The stock has a 36-month beta value of -6.94. Opinions on the stock are mixed, with 0 analysts rating it as a “buy,” 0 as “overweight,” 0 as “hold,” and 0 as “sell.”

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The public float for MNMD is 26.94M, and at present, short sellers hold a 21.77% of that float. On April 03, 2024, the average trading volume of MNMD was 1.98M shares.

MNMD) stock’s latest price update

The stock price of Mind Medicine Inc (NASDAQ: MNMD) has jumped by 21.12 compared to previous close of 9.85. Despite this, the company has seen a gain of 20.99% in its stock price over the last five trading days. Schwab Network reported 2024-03-08 that Hilary Kramer discusses finding value in the market. She talks about her stock picks which include Palantir (PLTR), Mind Medicine (MNMD), Oddity (ODD), Prairie Operating (PROP), Starbucks (SBUX), and Arm Holdings (ARM).

Analysts’ Opinion of MNMD

Many brokerage firms have already submitted their reports for MNMD stocks, with Canaccord Genuity repeating the rating for MNMD by listing it as a “Buy.” The predicted price for MNMD in the upcoming period, according to Canaccord Genuity is $9 based on the research report published on December 05, 2023 of the previous year 2023.

ROTH Capital, on the other hand, stated in their research note that they expect to see MNMD reach a price target of $25. The rating they have provided for MNMD stocks is “Buy” according to the report published on December 09th, 2022.

RBC Capital Mkts gave a rating of “Outperform” to MNMD, setting the target price at $5 in the report published on November 16th of the previous year.

MNMD Trading at 88.56% 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 able to rebound, for now settling with 7.48% of gains for the given period.

Volatility was left at 13.44%, however, over the last 30 days, the volatility rate increased by 8.63%, as shares surge +82.32% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +183.51% upper at present.

During the last 5 trading sessions, MNMD rose by +9.84%, which changed the moving average for the period of 200-days by +191.91% in comparison to the 20-day moving average, which settled at $9.26. In addition, Mind Medicine Inc saw 225.96% in overturn over a single year, with a tendency to cut further gains.

Insider Trading

Reports are indicating that there were more than several insider trading activities at MNMD starting from Barrow Robert, who sale 16,519 shares at the price of $9.50 back on Mar 25 ’24. After this action, Barrow Robert now owns 580,202 shares of Mind Medicine Inc, valued at $156,930 using the latest closing price.

Karlin Dan, the Chief Medical Officer of Mind Medicine Inc, sale 6,578 shares at $9.50 during a trade that took place back on Mar 25 ’24, which means that Karlin Dan is holding 358,452 shares at $62,491 based on the most recent closing price.

Stock Fundamentals for MNMD

The total capital return value is set at -1.05. Equity return is now at value -83.59, with -65.01 for asset returns.

Based on Mind Medicine Inc (MNMD), the company’s capital structure generated 0.15 points at debt to capital in total, while cash flow to debt ratio is standing at -4.5. The debt to equity ratio resting at 0.18. The interest coverage ratio of the stock is -75.18.

Currently, EBITDA for the company is -90.7 million with net debt to EBITDA at 0.94. The liquidity ratio also appears to be rather interesting for investors as it stands at 3.22.

Conclusion

To sum up, Mind Medicine Inc (MNMD) has seen a better performance recently. Analysts have differing views on the stock, with some seeing it as a “buy” and others as a “hold”. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.

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