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Tuesday, January 31, 2023

Mind Medicine (MindMed) Inc. (MNMD): A Case For Going Higher

After Hours

There is a slight risk associated with trading before and after the market open. Due to lower liquidity and higher volatility, extended-hours trading may result in wider spreads on particular security due to the release of critical financial information after regular trading hours. After-hours trades for Mind Medicine (MindMed) Inc. (MNMD) shows that investor sentiment remained intact, with the stock’s consolidated last price rising by $0.04, or 1.29%, to $3.15. The Mind Medicine (MindMed) Inc. has recorded 13,581 volume in the after hours trading session. Recently, Yahoo Finance discussed the stock, revealing that MindMed Provides Corporate Update and 2023 Outlook.

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Stocks Info

This NASDAQ-listed company operates within the Biotechnology industry segment, falling under the Healthcare sector. At the end of the last regular session, the stock closed at $3.11 and fluctuated between $3.2700 as its day high and $2.8910 as its day low. The current market capitalization of Mind Medicine (MindMed) Inc. is $116.85M. A total of 1.26 million shares were traded on the day, compared to an average of 614.14K shares.

In the most recent transaction, Barrow Robert sold 3,861 shares of MNMD for 2.69 per share on Dec 21. After the transaction, the Chief Executive Officer now owns 247,232 company shares. In a previous transaction on Dec 21, Karlin Dan sold 1,211 shares at 2.69 per share. MNMD shares that Chief Medical Officer owns now total 264,082.

Among the insiders who sold shares, Karlin Dan disposed of 644 shares on Oct 27 at a per-share price of $3.00. This resulted in the Chief Medical Officer holding 265,293 shares of MNMD after the transaction. In another insider transaction, Karlin Dan sold 541 shares at $2.81 per share on Oct 25. Company shares held by the Chief Medical Officer now total 265,937.

Even though price targets are rarely accurate, they do tend to exert some kind of influence from time to time and are often considered important by markets. According to analysts who have offered 12-month price targets for MNMD in the last 3 months, the mean price target is $27.63 with high estimates of $75.00 and low estimates of $5.00. In terms of 52-week highs and lows, MNMD has a high of $22.20 and a low of $2.12.

As of this writing, MNMD has an earnings estimate of -$0.6 per share for the current quarter. EPS was calculated based on a consensus of 5 estimates, with a high estimate of -$0.55 per share and a lower estimate of -$0.63. The company reported an EPS of -$0.6 in the last quarter, which was 20.00% higher than expectations of -$0.75.

Balance Sheet Annually/Quarterly

In a balance sheet, you can see what assets and liabilities the company has, as well as how much equity investors have invested. These figures can be used to calculate a company’s financial ratios to give investors a better idea of its prospects.

Analysts Opinion

The risks associated with pre-market and after-hours trading may be slightly higher than the regular market hours. The reason is that extended-hours trading may result in wider spreads for particular security due to lower liquidity and higher volatility as issuers often announce critical financial information outside regular trading hours. Currently, 8 analysts are providing their opinions on the stock. On a scale of 1 to 5, with 1 being Sell and 5 being Buy, the average analyst rating for MNMD is Overweight with a score of 4.86. A total of 8 analysts rated the stock as Buy while 0 rated it as Overweight while 0 rated it as Hold. Among the other participants, 0 thought the stock was Underweight and 0 thought it should be Sold.

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