Mind Medicine (MindMed) Inc. [NASDAQ: MNMD] slipped around -0.09 points on Thursday, while shares priced at $2.64 at the close of the session, down -3.30%. The company report on August 24, 2021 that MindMed Announces Collaboration With Forian To Advance Development Of Personalized Psychiatry For Anxiety Disorders.
Mind Medicine (MindMed) Inc. (NASDAQ: MNMD), (NEO: MMED), (DE: MMQ) (the “Company”), a leading biotech company developing psychedelic-inspired therapies, has agreed to work with Forian Inc. (NASDAQ: FORA), a leading provider of evidence-based support for more comprehensive clinical and commercial decision-making.
MindMed and Forian will collaborate to develop best practices for using real-world evidence (“RWE”) information to help improve the health and lives of psychiatric patients. Forian has deep domain experience in RWE and outcomes studies and has developed a variety of information products to serve the healthcare industry.
Mind Medicine (MindMed) Inc. stock is now -13.44% down from its year-to-date (YTD) trading value. MNMD Stock saw the intraday high of $2.81 and lowest of $2.61 per share. The company’s 52-week high price is 5.77, which means current price is +28.78% above from all time high which was touched on 04/27/21.
Compared to the average trading volume of 6.94M shares, MNMD reached a trading volume of 3195369 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]?
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 0.14
How has MNMD stock performed recently?
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 -1.12. With this latest performance, MNMD shares dropped by -14.84% in over the last four-week period, additionally sinking by -20.48% over the last 6 months – not to mention a rise of 620.72% 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 34.89, with the RSI for the last a single of trading hit 32.88, and the three-weeks RSI is set at 37.91 for Mind Medicine (MindMed) Inc. [MNMD]. The present Moving Average for the last 50 days of trading for this stock 3.19, while it was recorded at 2.70 for the last single week of trading, and 3.02 for the last 200 days.
Mind Medicine [MindMed] Inc. [MNMD]: Deeper insight into the 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.
Insider trade positions for Mind Medicine [MindMed] Inc. [MNMD]
There are presently around $99 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 $11.81 million in MNMD stocks shares; and GEODE CAPITAL MANAGEMENT, LLC, currently with $7.16 million in MNMD stock with ownership of nearly New of the company’s market capitalization.
Positions in Mind Medicine (MindMed) Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 147 institutional holders increased their position in Mind Medicine (MindMed) Inc. [NASDAQ:MNMD] by around 37,107,603 shares. Additionally, 1 investors decreased positions by around 1,000 shares, while 4 investors held positions by with 271,293 shares. The mentioned changes placed institutional holdings at 37,379,896 shares, according to the latest SEC report filing. MNMD stock had 145 new institutional investments in for a total of 37,075,646 shares, while 1 institutional investors sold positions of 1,000 shares during the same period.
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