In the last trading session, 1.35 million shares of the Mind Medicine Inc (NASDAQ:MNMD) were traded, and its beta was -6.96. Most recently the company’s share price was $9.85, and it changed around $0.33 or 3.47% from the last close, which brings the market valuation of the company to $277.38M. MNMD currently trades at a discount to its 52-week high of $11.10, offering almost -12.69% off that amount. The share price’s 52-week low was $2.41, which indicates that the current value has risen by an impressive 75.53% since then. We note from Mind Medicine Inc’s average daily trading volume that its 10-day average is 2.29 million shares, with the 3-month average coming to 1.96 million.
Mind Medicine Inc (NASDAQ:MNMD) trade information
Instantly MNMD has showed a green trend with a performance of 3.47% at the end of last trading. The performance over the last five days has remained in the red territory. The company’s shares are currently up 169.13% year-to-date, but still down -5.56% over the last five days. On the other hand, Mind Medicine Inc (NASDAQ:MNMD) is 58.11% up in the 30-day period. We can see from the shorts that 5.87 million shares have been sold at a short interest cover period of 1.58 day(s).
The consensus price target as assigned by Wall Street analysts is $5, which translates to bulls needing to decrease their stock price by -97.0% from its current value. Analyst projections state that MNMD is forecast to be at a low of $5 and a high of $5.
Mind Medicine Inc (MNMD) estimates and forecasts
Mind Medicine 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 risen 214.70 percent over the past six months and at a 30.33% annual growth rate that is well above the industry average of 13.60%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 35.40% in revenue this quarter, and will report an increase of 51.30% in the next quarter.
Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 2.29%.
MNMD Dividends
Mind Medicine Inc’s next quarterly earnings report is expected to be released around May 02 and May 06.
Mind Medicine Inc (NASDAQ:MNMD)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 2.41% of Mind Medicine Inc shares, and 25.44% of them are in the hands of institutional investors. The stock currently has a share float of 26.07%. Mind Medicine Inc stock is held by 127 institutions, with Alyeska Investment Group, L.p. being the largest institutional investor. By Jun 29, 2023, it held 1.99% of the shares, which is about 0.8 million shares worth $2.85 million.
Vanguard Group Inc, with 1.42% or 0.57 million shares worth $2.03 million as of Jun 29, 2023, holds the second largest percentage of outstanding shares.
Vanguard Extended Market Index Fund and Fidelity Extended Market Index Fund were the top two Mutual Funds as of Jun 29, 2023. The former held 0.55 million shares worth $1.97 million, making up 1.38% of all outstanding shares. On the other hand, Fidelity Extended Market Index Fund held roughly 0.18 million shares worth around $0.63 million, which represents about 0.44% of the total shares outstanding.
