Geode Capital Management LLC has recently announced that it has increased stake in Mind Medicine Inc (NASDAQ:MNMD) by 0.08%. After grabbing 0.37 million shares, the institutional investor is now in possession of 303.0 shares of the Healthcare Company. The new investment brought the stake of investor firm to 0.94% having worth around $0.95 million. Moreover, Millennium Management LLC increased its share by 0.19 million to have a control over 0.24 million shares. And Susquehanna Financial Group LLLP raised its holdings to 0.19 million shares by acquiring 0.19 million shares or 0.49% of the stake.
Mind Medicine Inc (MNMD) concluded trading on 12/14/23 at a closing price of $3.60, with 5.17 million shares of worth about $18.63 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -2.96% during that period and on Thursday the price saw a gain of about 11.46%. Currently the company’s common shares owned by public are about 37.98M shares, out of which, 26.48M shares are available for trading.
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According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 40 times over the past 12 months. They bought 1,500,369 shares in 16 of the transactions. In 24 selling transactions, insiders dumped 539,875 shares.
Vanguard Extended Market Index Fu, Horizons Psychedelic Stock Index, and Fidelity Extended Market Index Fu are the top 3 mutual funds which are holding stakes in Mind Medicine Inc Vanguard Extended Market Index Fu is currently holding 0.55 million shares of worth totaling $1.41 million. The company recently came buying 0.0 shares which brought its stake up to 1.39% of the company’s outstanding shares. Horizons Psychedelic Stock Index sold 60222.0 shares, after which its hold over company’s outstanding shares shrunk to 0.71%, leaving 0.28 million shares with the mutual fund that have a worth of about $0.73 million. Fidelity Extended Market Index Fu, after buying 0.17 million shares, have now control over 0.44% of the stake in the company. It holds 0.0 shares of worth $0.44 million.
However, the stock later moved at a day high price of 3.7300, or with a gain of 11.46%. Stock saw a price change of 13.21% in past 5 days and over the past one month there was a price change of 37.40%. Year-to-date (YTD), MNMD shares are showing a performance of 63.64% which increased to 32.84% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $2.12 but also hit the highest price of $5.01 during that period. The average intraday trading volume for Mind Medicine Inc shares is 386.96K. The stock is currently trading 16.79% above its 20-day simple moving average (SMA20), while that difference is up 24.94% for SMA50 and it goes to 3.69% higher than SMA200.
Geode Capital Management LLC acquired 0.37 million shares of Mind Medicine Inc having value of about $0.95 million. Data submitted at the U.S SEC by Geode Capital Management LLC revealed that the firm now holds 303.0 shares in the company valued at close to $1090.8, or have control over 0.08% stake in the company. Mind Medicine Inc (NASDAQ: MNMD) currently have 37.98M outstanding shares and institutions hold larger chunk of about 13.42% of that. Holding of mutual funds in the company is about 4.43% while other institutional holders and individual stake holders have control over 5.42% and 4.12% of the stake respectively.
The stock has a current market capitalization of $101.38M and its 3Y-monthly beta is at -7.06. It has posted earnings per share of -$1.99 in the same period. It has Quick Ratio of 3.85 while making debt-to-equity ratio of 0.15. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for MNMD, volatility over the week remained 11.10% while standing at 8.18% over the month.
Analysts are in expectations that Mind Medicine Inc (MNMD) stock would likely to be making an EPS of -$0.48 in the current quarter, while forecast for next quarter EPS is -$0.47 and it is -$2 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.57 which is -$0.38 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$0.16 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -23.05% while it is estimated to increase by 16.99% in next year.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Canaccord Genuity on December 05, 2023 offering a Buy rating for the stock and assigned a target price of $9 to it.
