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Is Mind Medicine (MindMed) Inc. (NASDAQ: MNMD) Worth Much? What Should Investors Do?

During the recent session, Mind Medicine (MindMed) Inc. (NASDAQ:MNMD)’s traded shares were 2.68 million. At the last check today, the stock’s price was $0.64, reflecting an intraday loss of -8.83% or -$0.06. The 52-week high for the MNMD share is $3.18, that puts it down -396.88 from that peak though still a striking 9.38% gain since the share price plummeted to a 52-week low of $0.58. The company’s market capitalization is $295.36M, and the average intraday trading volume over the past 10 days was 1.3 million shares, and the average trade volume was 2.78 million shares over the past three months.

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

Mind Medicine (MindMed) Inc. (MNMD) registered a -8.83% downside in the last session and has traded in the green over the past 5 sessions. The stock plummet -8.83% in intraday trading to $0.64 this Thursday, 08/04/22, hitting a weekly high. The stock’s 5-day price performance is 1.43%, and it has moved by 2.50% in 30 days. Based on these gigs, the overall price performance for the year is -75.96%. The short interest in Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) is 18.46 million shares and it means that shorts have 4.78 day(s) to cover.

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The consensus price target of analysts on Wall Street is $5.67, which implies an increase of 88.71% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $3.00 and $10.00 respectively. As a result, MNMD is trading at a discount of -1462.5% off the target high and -368.75% off the low.

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

Statistics show that Mind Medicine (MindMed) Inc. has outperformed its competitors in share price, compared to the industry in which it operates. Mind Medicine (MindMed) Inc. (MNMD) shares have gone down -36.18% during the last six months, with a year-to-date growth rate more than the industry average at 17.39% against 1.00. Yet analysts are ramping up their growth forecast for the fiscal year 2022. Revenue is predicted to grow 44.40% this quarter and then jump 16.70% in the quarter after that.

While earnings are projected to return 8.70% in 2022.

MNMD Dividends

Mind Medicine (MindMed) Inc. is due to release its next quarterly earnings between March 28 and April 01. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.

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

Mind Medicine (MindMed) Inc. insiders own 12.80% of total outstanding shares while institutional holders control 12.56%, with the float percentage being 14.41%. Blackrock Inc. is the largest shareholder of the company, while 208 institutions own stock in it. As of Mar 30, 2022, the company held over 16.43 million shares (or 3.84% of all shares), a total value of $18.24 million in shares.

The next largest institutional holding, with 6.15 million shares, is of State Street Corporation’s that is approximately 1.44% of outstanding shares. At the market price on Mar 30, 2022, these shares were valued at $6.82 million.

Also, the Mutual Funds coming in first place with the largest holdings of Mind Medicine (MindMed) Inc. (MNMD) shares are Fidelity Small Cap Index Fund and College Retirement Equities Fund-Stock Account. Data provided on Apr 29, 2022 indicates that Fidelity Small Cap Index Fund owns about 2.39 million shares. This amounts to just over 0.56 percent of the company’s overall shares, with a $1.91 million market value. The same data shows that the other fund manager holds slightly less at 1.04 million, or about 0.24% of the stock, which is worth about $1.16 million.

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