Additionally, the 36-month beta value for MNMD is 0.97. There are mixed opinions on the stock, with 0 analysts rating it as a “buy,” 0 rating it as “overweight,” 0 rating it as “hold,” and 0 rating it as “sell.”
The public float for MNMD is 27.16M and currently, short sellers hold a 27.19% ratio of that float. The average trading volume of MNMD on July 24, 2024 was 1.40M shares.
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MNMD) stock’s latest price update
Mind Medicine Inc (NASDAQ: MNMD)’s stock price has increased by 4.41 compared to its previous closing price of 8.84. However, the company has seen a 10.01% increase in its stock price over the last five trading sessions. investorplace.com reported 2024-07-06 that The value of the psychedelic market is expected to approximately triple over the next few years. While not a large market in absolute terms, that growth potential will create many winning stocks.
MNMD’s Market Performance
Mind Medicine Inc (MNMD) has experienced a 10.01% rise in stock performance for the past week, with a 25.07% rise in the past month, and a 4.06% rise in the past quarter. The volatility ratio for the week is 7.93%, and the volatility levels for the past 30 days are at 5.83% for MNMD. The simple moving average for the past 20 days is 21.99% for MNMD’s stock, with a 53.58% simple moving average for the past 200 days.
Analysts’ Opinion of MNMD
Robert W. Baird, on the other hand, stated in their research note that they expect to see MNMD reach a price target of $27. The rating they have provided for MNMD stocks is “Outperform” according to the report published on May 29th, 2024.
Leerink Partners gave a rating of “Outperform” to MNMD, setting the target price at $20 in the report published on April 15th of the current year.
MNMD Trading at 17.14% 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 -24.47% of loss for the given period.
Volatility was left at 5.83%, however, over the last 30 days, the volatility rate increased by 7.93%, as shares surge +30.55% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -0.32% lower at present.
During the last 5 trading sessions, MNMD rose by +10.01%, which changed the moving average for the period of 200-days by +199.68% in comparison to the 20-day moving average, which settled at $7.67. In addition, Mind Medicine Inc saw 152.18% 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 Sullivan Mark, who sale 17,854 shares at the price of $7.22 back on Jun 25 ’24. After this action, Sullivan Mark now owns 182,146 shares of Mind Medicine Inc, valued at $128,906 using the latest closing price.
Barrow Robert, the Chief Executive Officer of Mind Medicine Inc, sale 15,659 shares at $7.22 during a trade that took place back on Jun 25 ’24, which means that Barrow Robert is holding 564,543 shares at $113,058 based on the most recent closing price.
Stock Fundamentals for MNMD
Current profitability levels for the company are sitting at:
- -19.68 for the present operating margin
- 0.39 for the gross margin
The net margin for Mind Medicine Inc stands at -25.9. The total capital return value is set at -0.45. Equity return is now at value -76.79, with -58.14 for asset returns.
Based on Mind Medicine Inc (MNMD), the company’s capital structure generated 0.07 points at debt to capital in total, while cash flow to debt ratio is standing at -4.71. The debt to equity ratio resting at 0.07. The interest coverage ratio of the stock is 112.01.
Currently, EBITDA for the company is -90.7 million with net debt to EBITDA at 2.59. When we switch over and look at the enterprise to sales, we see a ratio of 80.81. The liquidity ratio also appears to be rather interesting for investors as it stands at 3.91.
Conclusion
In conclusion, Mind Medicine Inc (MNMD) has seen better performance in recent times. Analysts have a mixed opinion on the stock, with some rating it as a “buy” and others rating it as a “hold”. 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.
