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

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Mind Medicine (MindMed) Inc. [NASDAQ: MNMD] traded at a low on 05/05/22, posting a -7.59 loss after which it closed the day’ session at $0.85. The company report on April 14, 2022 that MindMed Collaborator Dr. Matthias Liechti to Present Topline Clinical Trial Results for LSD in Anxiety Disorders at PSYCH Symposium.

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– “LSD as a Treatment for Anxiety Disorders: New Evidence of Efficacy” will present the most recent and robust data on LSD in patients with anxiety -.

– This study builds on decades of research on the effects of LSD in humans -.

The results of the trading session contributed to over 3008792 shares changing hands. Over the past one week, the price volatility of Mind Medicine (MindMed) Inc. stands at 8.13% while the volatility over the past one month is 6.87%.

The market cap for MNMD stock reached $357.71 million, with 420.74 million shares outstanding and 371.01 million shares in the current float. Compared to the average trading volume of 3.08M shares, MNMD reached a trading volume of 3008792 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Mind Medicine [MindMed] Inc. [MNMD]?

ROTH Capital have made an estimate for Mind Medicine (MindMed) Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on May 04, 2022. While these analysts kept the previous recommendation, Maxim Group raised their target price to Buy. The new note on the price target was released on June 28, 2021, representing the official price target for Mind Medicine (MindMed) Inc. stock.

The Average True Range (ATR) for Mind Medicine (MindMed) Inc. is set at 0.06 The Price to Book ratio for the last quarter was 2.16.

How has MNMD stock performed recently?

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 1.50. With this latest performance, MNMD shares dropped by -19.79% in over the last four-week period, additionally sinking by -69.31% over the last 6 months – not to mention a drop of -75.07% 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 41.54, with the RSI for the last a single of trading hit 43.03, and the three-weeks RSI is set at 41.58 for Mind Medicine (MindMed) Inc. [MNMD]. The present Moving Average for the last 50 days of trading for this stock 1.0287, while it was recorded at 0.8549 for the last single week of trading, and 1.8398 for the last 200 days.

Mind Medicine [MindMed] Inc. [MNMD]: Deeper insight into the fundamentals

Return on Equity for this stock declined to -79.20, with Return on Assets sitting at -74.53.

Insider trade positions for Mind Medicine [MindMed] Inc. [MNMD]

There are presently around $47 million, or 10.98% of MNMD stock, in the hands of institutional investors. The top three institutional holders of MNMD stocks are: BLACKROCK INC. with ownership of 17,065,574, which is approximately 2.299% of the company’s market cap and around 15.72% of the total institutional ownership; STATE STREET CORP, holding 5,728,738 shares of the stock with an approximate value of $5.27 million in MNMD stocks shares; and GEODE CAPITAL MANAGEMENT, LLC, currently with $2.68 million in MNMD stock with ownership of nearly -0.148% of the company’s market capitalization.

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 87 institutional holders increased their position in Mind Medicine (MindMed) Inc. [NASDAQ:MNMD] by around 9,575,186 shares. Additionally, 74 investors decreased positions by around 2,732,161 shares, while 47 investors held positions by with 39,184,963 shares. The mentioned changes placed institutional holdings at 51,492,310 shares, according to the latest SEC report filing. MNMD stock had 33 new institutional investments in for a total of 2,547,076 shares, while 42 institutional investors sold positions of 1,076,422 shares during the same period.