Analyzing Ratios: Mind Medicine Inc (MNMD)’s Financial Story Unveiled

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The price of Mind Medicine Inc (NASDAQ: MNMD) closed at $7.36 in the last session, up 1.52% from day before closing price of $7.25. In other words, the price has increased by $1.52 from its previous closing price. On the day, 4.1 million shares were traded. MNMD stock price reached its highest trading level at $7.44 during the session, while it also had its lowest trading level at $7.07.

Ratios:

We take a closer look at MNMD’s different ratios to gain a better understanding of the stock. For the most recent quarter (mrq), Quick Ratio is recorded 3.91 and its Current Ratio is at 3.91. In the meantime, Its Debt-to-Equity ratio is 0.07 whereas as Long-Term Debt/Eq ratio is at 0.07.

Upgrades & Downgrades

In addition, analysts’ ratings and any changes thereto give investors an idea of the stock’s future direction. In the most recent recommendation for this company, Robert W. Baird on May 29, 2024, initiated with a Outperform rating and assigned the stock a target price of $27.

On April 15, 2024, Leerink Partners started tracking the stock assigning a Outperform rating and target price of $20.

On December 05, 2023, Canaccord Genuity started tracking the stock assigning a Buy rating and target price of $9.Canaccord Genuity initiated its Buy rating on December 05, 2023, with a $9 target price.

Insider Transactions:

An investor can also benefit from insider trades by learning what management is thinking about the future direction of stock prices. A recent insider transaction in this stock occurred on Mar 25 ’24 when Barrow Robert sold 16,519 shares for $9.50 per share. The transaction valued at 156,930 led to the insider holds 580,202 shares of the business.

Karlin Dan sold 6,578 shares of MNMD for $62,491 on Mar 25 ’24. The Chief Medical Officer now owns 358,452 shares after completing the transaction at $9.50 per share. On Dec 26 ’23, another insider, Barrow Robert, who serves as the Chief Executive Officer of the company, sold 13,237 shares for $3.63 each. As a result, the insider received 48,050 and left with 596,721 shares of the company.

Valuation Measures:

Investors should consider key stock statistics when deciding whether to invest or divest. In the wake of the recent closing price, MNMD now has a Market Capitalization of 528980864 and an Enterprise Value of 290839040.

Stock Price History:

Over the past 52 weeks, MNMD has reached a high of $12.22, while it has fallen to a 52-week low of $2.41. The 50-Day Moving Average of the stock is -15.12%, while the 200-Day Moving Average is calculated to be 31.60%.

Shares Statistics:

According to the various share statistics, MNMD traded on average about 1.55M shares per day over the past 3-months and 1367810 shares per day over the past 10 days. A total of 41.10M shares are outstanding, with a floating share count of 27.40M. Insiders hold about 2.71% of the company’s shares, while institutions hold 119.80% stake in the company. Shares short for MNMD as of 1715731200 were 6133922 with a Short Ratio of 4.11, compared to 1713139200 on 6924134. Therefore, it implies a Short% of Shares Outstanding of 6133922 and a Short% of Float of 8.540000000000001.

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