At the last check on Thursday, Mind Medicine (MindMed) Inc.’s (NASDAQ:MNMD) stock was up $0.16, moving up 4.01 percent to $4.03. The average number of shares traded per day over the past five days has been 442,128 shares. 3 times new highs have been achieved over the past 5 days, with a $0.20 gain in that time frame. In the last twenty days, the average volume was 438,552, while in the previous 50 days, it was 659,305.
Since last month, MNMD stock retreated -12.31%. Shares of the company fell to $3.72 on 08/25/23, the lowest level in the past month. A 52-week high of $12.63 was reached on 07/18/23 after having rallying from a 52-week low of $2.12. Since the beginning of this year, MNMD’s stock price has risen by 82.95% or $1.86, and marked a new high 15 times. However, the stock has declined by -68.13% since its 52-week high.
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MNMD stock investors should be aware that Mind Medicine (MindMed) Inc. (MNMD) stock had its last reported insider trading activity 6 days ago on Aug 25. Greenway Schond L., the Chief Financial Officer of the company, disposed of 20,000 shares for $3.80 on Aug 25. It resulted in a $76,000 divestment by the insider. Barrow Robert sold 15,502 shares at an average price of $3.20 on Jun 27. The insider now owns 623,457 shares following the transaction. On Jun 27, Chief Financial Officer Greenway Schond L. sold 11,635 shares at $3.20 apiece. The transaction was valued at $37,194.
Financial Health
In the three months ended June 29, Mind Medicine (MindMed) Inc.’s quick ratio stood at 3.40, while its current ratio was 3.40, showing that the company is able to pay off its debt.
While analysts expected Mind Medicine (MindMed) Inc. to report -$0.54 quarterly earnings, the actual figure was -$0.76 per share, beating the consensus estimate by -40.70%. The liabilities of Mind Medicine (MindMed) Inc. were 36.11 million at the end of its most recent quarter ended June 29, and its total debt was $75000.0. The value of shareholders’ equity is $39.72 million.
Technical Picture
This quick technical analysis looks at Mind Medicine (MindMed) Inc.’s (MNMD) price momentum. With a historical volatility rate of 45.06%, the RSI 9-day stood at 50.76% on 30 August.
With respect to its five-day moving average, the current Mind Medicine (MindMed) Inc. price is up by +5.18% percent or $0.20. At present, MNMD shares trade -13.80% below its 20-day simple moving average and +35.33% percent above its 100-day simple moving average. However, the stock is currently trading approximately +12.78% above its SMA50 and +40.48% above its SMA200.
Stochastic coefficient K was 26.10% and Stochastic coefficient D was 18.45%, while ATR was 0.24. Given the Stochastic reading of 40.96% for the 14-day period, the RSI (14) reading has been calculated as 49.11%. As of today, the MACD Oscillator reading stands at -0.02, while the 14-day reading stands at -0.09.
Analyst Ratings
Mind Medicine (MindMed) Inc. (MNMD) has been rated Buy by analysts. According to 0 brokerage firms, MNMD is a sell, and 0 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 0 analysts rate Mind Medicine (MindMed) Inc. stock as buy, with 8 recommending it as overweight.
With a median target price of $19.50, the current consensus forecast for the stock is $7.00 – $75.00. Based on these forecasts, analysts predict Mind Medicine (MindMed) Inc. (MNMD) will achieve an average price target of $22.88.
