Mind Medicine [MindMed] Inc. [MNMD] is 0.98% higher this YTD. Is it still time to buy?

Mind Medicine (MindMed) Inc. [NASDAQ: MNMD] stock went on an upward path that rose over 0.33% on Tuesday, amounting to a one-week price decrease of less than -8.88%. The company report on May 5, 2021 that MindMed Announces Project Angie, Targeting the Treatment of Pain with Psychedelics.

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Mind Medicine (MindMed) Inc. (“MindMed” or the “Company”) (NASDAQ: MNMD) (NEO: MMED), (DE: MMQ), a leading psychedelic-inspired medicine company announces the launch of its Project Angie to advance the development of psychedelics, including LSD, to treat pain conditions. MindMed is currently exploring two primary clinical indications for the treatment of pain.

For the commencement of Project Angie, MindMed will initiate a study of LSD in a severe pain indication. MindMed is currently preparing a pre-IND briefing package for this Phase 2a Proof of Concept study which it plans to submit to the FDA in the second half of 2021. In addition, the Company is also evaluating a second indication in a common, often debilitating, chronic pain syndrome.

Over the last 12 months, MNMD stock rose by 633.33%.

The market cap for the stock reached $1.00 billion, with 326.13 million shares outstanding and 286.31 million shares in the current float. Compared to the average trading volume of 6.15M shares, MNMD stock reached a trading volume of 7068674 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Mind Medicine [MindMed] Inc. [MNMD]:

The Average True Range (ATR) for Mind Medicine (MindMed) Inc. is set at 0.48

MNMD Stock Performance Analysis:

Mind Medicine (MindMed) Inc. [MNMD] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -8.88. With this latest performance, MNMD shares gained by 18.31% in over the last four-week period, additionally plugging by 236.65% over the last 6 months – not to mention a rise of 633.33% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for MNMD stock in for the last two-week period is set at 48.38, with the RSI for the last a single of trading hit 45.23, and the three-weeks RSI is set at 49.51 for Mind Medicine (MindMed) Inc. [MNMD]. The present Moving Average for the last 50 days of trading for this stock 2.92, while it was recorded at 3.24 for the last single week of trading, and 2.01 for the last 200 days.

Insight into Mind Medicine [MindMed] Inc. Fundamentals:

Return on Total Capital for MNMD is now -79.31, given the latest momentum, and Return on Invested Capital for the company is -86.40. Return on Equity for this stock declined to -86.40, with Return on Assets sitting at -83.88.

Mind Medicine [MindMed] Inc. [MNMD] Insider Position Details

There are presently around $1 million, or 0.57% of MNMD stock, in the hands of institutional investors. The top three institutional holders of MNMD stocks are: TRU INDEPENDENCE LLC with ownership of 112,693, which is approximately New of the company’s market cap and around 6.56% of the total institutional ownership; GOFEN & GLOSSBERG LLC /IL/, holding 72,500 shares of the stock with an approximate value of $0.22 million in MNMD stocks shares; and FNY INVESTMENT ADVISERS, LLC, currently with $62000.0 in MNMD stock with ownership of nearly New of the company’s market capitalization.

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Positions in Mind Medicine (MindMed) Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 5 institutional holders increased their position in Mind Medicine (MindMed) Inc. [NASDAQ:MNMD] by around 151,693 shares. Additionally, 1 investors decreased positions by around 2,249 shares, while 1 investors held positions by with 64,751 shares. The mentioned changes placed institutional holdings at 218,693 shares, according to the latest SEC report filing. MNMD stock had 4 new institutional investments in for a total of 143,693 shares, while 0 institutional investors sold positions of 0 shares during the same period.

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