The stock price of Mind Medicine Inc (NASDAQ: MNMD) has dropped by -0.83 compared to previous close of 8.46. Despite this, the company has seen a fall of -5.84% in its stock price over the last five trading days. The Motley Fool reported 2024-04-25 that Mind Medicine has an exciting treatment option for generalized anxiety disorder — MM120. In clinical trials, MM120 reduced anxiety in patients after just a single dose.
Is It Worth Investing in Mind Medicine Inc (NASDAQ: MNMD) Right Now?
Moreover, the 36-month beta value for MNMD is -6.80. Analysts have varying opinions on the stock, with 0 analysts rating it as a “buy,” 0 as “overweight,” 0 as “hold,” and 0 as “sell.”
The public float for MNMD is 26.94M and currently, short sellers hold a 25.70% of that float. On April 25, 2024, MNMD’s average trading volume was 2.25M shares.
MNMD’s Market Performance
The stock of Mind Medicine Inc (MNMD) has seen a -5.84% decrease in the past week, with a -14.91% drop in the past month, and a 129.86% gain in the past quarter. The volatility ratio for the week is 7.35%, and the volatility levels for the past 30 days are at 9.51% for MNMD. The simple moving average for the past 20 days is -14.55% for MNMD’s stock, with a 75.66% simple moving average for the past 200 days.
Analysts’ Opinion of MNMD
Many brokerage firms have already submitted their reports for MNMD stocks, with Leerink Partners repeating the rating for MNMD by listing it as a “Outperform.” The predicted price for MNMD in the upcoming period, according to Leerink Partners is $20 based on the research report published on April 15, 2024 of the current year 2024.
Canaccord Genuity, on the other hand, stated in their research note that they expect to see MNMD reach a price target of $9. The rating they have provided for MNMD stocks is “Buy” according to the report published on December 05th, 2023.
ROTH Capital gave a rating of “Buy” to MNMD, setting the target price at $25 in the report published on December 09th of the previous year.
MNMD Trading at 2.25% 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 -31.34% of loss for the given period.
Volatility was left at 9.51%, however, over the last 30 days, the volatility rate increased by 7.35%, as shares sank -12.21% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +85.75% upper at present.
During the last 5 trading sessions, MNMD fell by -6.40%, which changed the moving average for the period of 200-days by +94.41% in comparison to the 20-day moving average, which settled at $9.76. In addition, Mind Medicine Inc saw 129.23% 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 wrap up, the performance of Mind Medicine Inc (MNMD) has been mixed in recent times. The stock has received a mixed of “buy” and “hold” ratings from analysts. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
