Mind Medicine Inc [NASDAQ: MNMD] stock went on an upward path that rose over 19.29% on Wednesday, amounting to a one-week price increase of more than 19.17%. The company report on April 2, 2024 at 7:00 AM that MindMed to Present at Upcoming April Medical Conferences.
Mind Medicine (MindMed) Inc. (NASDAQ: MNMD), (Cboe Canada: MMED), (the “Company” or “MindMed”), a clinical stage biopharmaceutical company developing novel product candidates to treat brain health disorders, announced today that it will present posters describing the impact that COVID has had on the epidemiology of Generalized Anxiety Disorder at two upcoming medical conferences:.
European Psychiatric Association (EPA) 2024 CongressTitle: Prevalence of Generalized Anxiety Disorder Among Five European Countries Before and During COVIDFormat: PosterPresenter: Phong Duong, PharmDDate and Time: Tuesday, April 9, 2024, at 9:30 AMLocation: Budapest, Hungary.
Over the last 12 months, MNMD stock rose by 270.66%. The one-year Mind Medicine Inc stock forecast points to a potential upside of 64.03. The average equity rating for MNMD stock is currently 1.00, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $330.88 million, with 41.10 million shares outstanding and 26.94 million shares in the current float. Compared to the average trading volume of 1.98M shares, MNMD stock reached a trading volume of 6554930 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on Mind Medicine Inc [MNMD]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for MNMD shares is $32.67 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on MNMD stock is a recommendation set at 1.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Canaccord Genuity have made an estimate for Mind Medicine Inc shares, keeping their opinion on the stock as Buy, with their previous recommendation back on December 05, 2023. While these analysts kept the previous recommendation, ROTH Capital raised their target price to Buy. The new note on the price target was released on December 09, 2022, representing the official price target for Mind Medicine Inc stock. Previously, the target price had yet another raise to $5, while RBC Capital Mkts analysts kept a Outperform rating on MNMD stock.
The Average True Range (ATR) for Mind Medicine Inc is set at 1.05 The Price to Book ratio for the last quarter was 6.18, with the Price to Cash per share for the same quarter was set at 3.54.
MNMD Stock Performance Analysis:
Mind Medicine Inc [MNMD] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 19.17. With this latest performance, MNMD shares gained by 88.30% in over the last four-week period, additionally plugging by 283.99% over the last 6 months – not to mention a rise of 270.66% 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 74.11, with the RSI for the last a single of trading hit 76.98, and the three-weeks RSI is set at 72.63 for Mind Medicine Inc [MNMD]. The present Moving Average for the last 50 days of trading for this stock 6.49, while it was recorded at 10.00 for the last single week of trading, and 4.31 for the last 200 days.
Insight into Mind Medicine Inc Fundamentals:
Mind Medicine Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.22 and a Current Ratio set at 3.22.
MNMD Stock EPS
With the latest financial reports released by the company, Mind Medicine Inc posted -0.65/share EPS, while the average EPS was predicted by analysts to be reported at -0.42/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -54.80%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for MNMD.
Mind Medicine Inc [MNMD] Institutonal Ownership Details
The top three institutional holders of MNMD stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in MNMD stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in MNMD stock with ownership which is approximately 5.8386%.
