Mind Medicine (MindMed) Inc. (NASDAQ: MNMD) Stock: Instant Disaster Or Awesome Opportunity? – Marketing Sentinel
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Mind Medicine (MindMed) Inc. (NASDAQ: MNMD) Stock: Instant Disaster Or Awesome Opportunity?

In the last trading session, 2.9 million shares of the Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) were traded. Most recently the company’s share price was $0.71, and it changed around $0.0 or 0.78% from the last close, which brings the market valuation of the company to $300.37M. MNMD currently trades at a discount to its 52-week high of $3.95, offering almost -456.34% off that amount. The share price’s 52-week low was $0.70, which indicates that the current value has risen by an impressive 1.41% since then. We note from Mind Medicine (MindMed) Inc.’s average daily trading volume that its 3-month average coming to 2.61 million.

Mind Medicine (MindMed) Inc. stock received a consensus recommendation rating of a Buy, based on a mean score of 1.70. If we narrow it down even further, the data shows that 0 out of 5 analysts rate the stock as a Sell; another 0 rate it as Overweight. Among the rest, 0 recommended MNMD as a Hold, whereas 5 deemed it a Buy, and 0 rated it as Underweight. Mind Medicine (MindMed) Inc. is expected to report earnings per share of -$0.05 for the current quarter.

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Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) trade information

Instantly MNMD has showed a green trend with a performance of 0.78% at the end of last trading. The performance over the last five days has remained in the red territory. The rise to weekly highs of 0.8165 on Tuesday, 06/21/22 increased the stock’s daily price by 13.04%. The company’s shares are currently down -48.27% year-to-date, but still down -11.71% over the last five days. On the other hand, Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) is 0.30% down in the 30-day period.

The consensus price target as assigned by Wall Street analysts is $5.69, which translates to bulls needing to increase their stock price by 87.52% from its current value. Analyst projections state that MNMD is forecast to be at a low of $3.00 and a high of $10.00. In order for the stock price to hit the forecast high, the stock would need to plunge -1308.45% from its current level, while the stock would need to crash -322.54% from its current level to reach the projected low.

Mind Medicine (MindMed) Inc. (MNMD) estimates and forecasts

Mind Medicine (MindMed) Inc. share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -58.49 percent over the past six months and at a 17.39% annual growth rate that is well above the industry average of 0.60%.

MNMD Dividends

Mind Medicine (MindMed) Inc.’s next quarterly earnings report is expected to be released around March 28 and April 01.

Mind Medicine (MindMed) Inc. (NASDAQ:MNMD)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 12.49% of Mind Medicine (MindMed) Inc. shares, and 13.45% of them are in the hands of institutional investors. The stock currently has a share float of 15.37%. Mind Medicine (MindMed) Inc. stock is held by 206 institutions, with Blackrock Inc. being the largest institutional investor. By Mar 30, 2022, it held 3.89% of the shares, which is about 16.43 million shares worth $18.24 million.

State Street Corporation, with 1.36% or 5.73 million shares worth $7.91 million as of Dec 30, 2021, holds the second largest percentage of outstanding shares.

iShares Russell 2000 ETF and iShares Russell 2000 Growth ETF were the top two Mutual Funds as of Jan 30, 2022. The former held 7.95 million shares worth $8.9 million, making up 1.88% of all outstanding shares. On the other hand, iShares Russell 2000 Growth ETF held roughly 2.8 million shares worth around $3.14 million, which represents about 0.66% of the total shares outstanding.

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