Investing Now Could Prove Beneficial For Mind Medicine (MindMed) Inc. (NASDAQ: MNMD)

During the last session, Mind Medicine (MindMed) Inc. (NASDAQ:MNMD)’s traded shares were 3.91 million. At the end of the trading day, the stock’s price was $1.31, reflecting an intraday loss of -11.49% or -$0.17. The 52-week high for the MNMD share is $5.77, that puts it down -340.46 from that peak though still a striking -3.05% loss since the share price plummeted to a 52-week low of $1.35. The company’s market capitalization is $296.48M, and the average intraday trading volume over the past 10 days was 3.95 million shares, and the average trade volume was 3.91 million shares over the past three months.

Mind Medicine (MindMed) Inc. (MNMD) received a consensus recommendation of a Buy from analysts. That translates to a mean rating of 1.50. MNMD has a Sell rating from 0 analyst(s) out of 4 analysts who have looked at this stock. 0 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 4 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be -$0.05.

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Mind Medicine (MindMed) Inc. (MNMD) registered a -11.49% downside in the last session and has traded in the red over the past 5 sessions. The stock plummet -11.49% in intraday trading to $1.31, hitting a weekly high. The stock’s 5-day price performance is -11.49%, and it has moved by -23.39% in 30 days. Based on these gigs, the overall price performance for the year is -57.74%. The short interest in Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) is 15.4 million shares and it means that shorts have 4.02 day(s) to cover.

The consensus price target of analysts on Wall Street is $6.13, which implies an increase of 78.63% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $3.36 and $10.00 respectively. As a result, MNMD is trading at a discount of -663.36% off the target high and -156.49% off the low.

Mind Medicine (MindMed) Inc. (MNMD) estimates and forecasts

Statistics show that Mind Medicine (MindMed) Inc. has underperformed its competitors in share price, compared to the industry in which it operates. Mind Medicine (MindMed) Inc. (MNMD) shares have gone down -60.06% during the last six months, with a year-to-date growth rate less than the industry average at -140.00% against 7.80.

While earnings are projected to return -70.00% in 2022.

MNMD Dividends

Mind Medicine (MindMed) Inc. is due to release its next quarterly earnings between March 28 and April 01. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.

Mind Medicine (MindMed) Inc. (NASDAQ:MNMD)’s Major holders

Mind Medicine (MindMed) Inc. insiders own 15.72% of total outstanding shares while institutional holders control 10.98%, with the float percentage being 13.02%. Blackrock Inc. is the largest shareholder of the company, while 219 institutions own stock in it. As of Sep 29, 2021, the company held over 16.68 million shares (or 3.67% of all shares), a total value of $38.87 million in shares.

The next largest institutional holding, with 5.63 million shares, is of State Street Corporation’s that is approximately 1.24% of outstanding shares. At the market price on Sep 29, 2021, these shares were valued at $13.13 million.

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Also, the Mutual Funds coming in first place with the largest holdings of Mind Medicine (MindMed) Inc. (MNMD) shares are iShares Russell 2000 ETF and iShares Russell 2000 Growth ETF. Data provided on Oct 30, 2021 indicates that iShares Russell 2000 ETF owns about 8.05 million shares. This amounts to just over 1.77 percent of the company’s overall shares, with a $20.28 million market value. The same data shows that the other fund manager holds slightly less at 2.75 million, or about 0.61% of the stock, which is worth about $6.93 million.