Maxim Group slashes price target on Mind Medicine [MindMed] Inc. [MNMD] – find out why.

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Mind Medicine (MindMed) Inc. [NASDAQ: MNMD] closed the trading session at $2.37 on 10/20/21. The day’s price range saw the stock hit a low of $2.29, while the highest price level was $2.42. The company report on October 13, 2021 that MindMed Joins Clinical Trials Transformation Initiative.

– Mind Medicine (MindMed) Inc. (NASDAQ: MNMD), (NEO: MMED), (DE: MMQ) (the “Company”), a leading biotech company developing psychedelic-inspired therapies, has joined the Clinical Trials Transformation Initiative (CTTI) to contribute in developing and driving adoption of practices that increase the quality and efficiency of clinical trials.


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MindMed joins CTTI as one of approximately 80 member organizations interested in advancing higher quality clinical trials and accelerating the path to new therapeutics and other medical products. CTTI convenes its members – along with nearly 500+ multi-stakeholder organizations and individuals from across the clinical trials ecosystem – to discuss issues, exchange ideas, and come to a consensus on solutions to the greatest challenges in clinical research. As a member of the Steering Committee, MindMed will contribute to setting project priorities within CTTI’s agenda, as well as serving on the teams that create recommendations and resources to transform clinical trials globally.

The stocks have a year to date performance of -22.30 percent and weekly performance of 3.49 percent. The stock has been moved at 11.27 percent over the last six months. The stock has performed -1.25 percent around the most recent 30 days and changed -24.52 percent over the most recent 3-months.

If compared to the average trading volume of 2.95M shares, MNMD reached to a volume of 3002600 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Mind Medicine [MindMed] Inc. [MNMD]:

Maxim Group have made an estimate for Mind Medicine (MindMed) Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on June 28, 2021.

The Average True Range (ATR) for Mind Medicine (MindMed) Inc. is set at 0.11

MNMD stock trade performance evaluation

Mind Medicine (MindMed) Inc. [MNMD] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 3.49. With this latest performance, MNMD shares dropped by -1.25% in over the last four-week period, additionally plugging by 11.27% over the last 6 months – not to mention a rise of 134.65% 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 48.54, with the RSI for the last a single of trading hit 54.10, and the three-weeks RSI is set at 45.61 for Mind Medicine (MindMed) Inc. [MNMD]. The present Moving Average for the last 50 days of trading for this stock 2.54, while it was recorded at 2.34 for the last single week of trading, and 3.05 for the last 200 days.

Mind Medicine [MindMed] Inc. [MNMD]: An insightful look at the core fundamentals

Return on Total Capital for MNMD is now -75.43, given the latest momentum, and Return on Invested Capital for the company is -82.18. Return on Equity for this stock declined to -82.18, with Return on Assets sitting at -79.79.

Mind Medicine [MindMed] Inc. [MNMD]: Insider Ownership positions

There are presently around $89 million, or 0.78% of MNMD stock, in the hands of institutional investors. The top three institutional holders of MNMD stocks are: BLACKROCK INC. with ownership of 15,684,507, which is approximately New of the company’s market cap and around 5.72% of the total institutional ownership; STATE STREET CORP, holding 4,474,970 shares of the stock with an approximate value of $10.61 million in MNMD stocks shares; and GEODE CAPITAL MANAGEMENT, LLC, currently with $6.43 million 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 November and at the time of the November reporting period, where 142 institutional holders increased their position in Mind Medicine (MindMed) Inc. [NASDAQ:MNMD] by around 37,066,428 shares. Additionally, 4 investors decreased positions by around 62,170 shares, while 15 investors held positions by with 584,110 shares. The mentioned changes placed institutional holdings at 37,712,708 shares, according to the latest SEC report filing. MNMD stock had 136 new institutional investments in for a total of 37,025,867 shares, while 1 institutional investors sold positions of 10,000 shares during the same period.

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