Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) closed Monday at $3.56 per share, up from $3.54 a day earlier. While Mind Medicine (MindMed) Inc. has overperformed by 0.42%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, MNMD fell by -76.76%, with highs and lows ranging from $22.20 to $2.12, whereas the simple moving average fell by -54.99% in the last 200 days.
On December 09, 2022, ROTH Capital started tracking Mind Medicine (MindMed) Inc. (NASDAQ: MNMD) recommending Buy. A report published by RBC Capital Mkts on November 16, 2022, Initiated its previous ‘Outperform’ rating for MNMD. Oppenheimer also rated MNMD shares as ‘Outperform’, setting a target price of $3.50 on the company’s shares in an initiating report dated August 26, 2022. Cantor Fitzgerald Initiated an Overweight rating on August 10, 2022, and assigned a price target of $3. ROTH Capital initiated its ‘Buy’ rating for MNMD, as published in its report on May 04, 2022. Maxim Group’s report from June 28, 2021 suggests a price prediction of $6 for MNMD shares, giving the stock a ‘Buy’ rating.
As an indicator of volatility for any stock, average volume can also be very valuable, and MNMD is recording an average volume of 611.88K. On a monthly basis, the volatility of the stock is set at 8.91%, whereas on a weekly basis, it is put at 11.43%, with a gain of 8.72% over the past seven days.
How Do You Analyze Mind Medicine (MindMed) Inc. Shares?
Apart from looking at the fundamentals, you should also pay attention to the number of company employees who own shares. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 12.20%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 14.93% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in MNMD shares?
The recent increase in stakes in MNMD appears to be a result of several institutional investors and hedge funds increasing their positions. The company now owns 1,000,000 shares of the stock, with a value of $2.2 million, following the purchase of 1,000,000 additional shares during the last quarter. During the last quarter, the company dropped down 652,374 additional shares for a total stake of worth $1.44 million, bringing number of shares owned by the company to 652,374.
During the first quarter, Merit Financial Group LLC subtracted a -540,287 position in MNMD. Busey Bank purchased an additional 0.16 million shares in the last quarter, increasing its holdings by 193.64%, now holding 0.24 million shares worth $0.54 million. MNMD shares are owned by institutional investors to the tune of 14.93% at present.