Holdings of Mind Medicine (MindMed) Inc. (MNMD) are aligned with the stars

Mind Medicine (MindMed) Inc. (NASDAQ: MNMD) stock jumped 0.36% on Wednesday to $2.77 against a previous-day closing price of $2.76. With 0.36 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.1 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $2.8250 whereas the lowest price it dropped to was $2.6900. The 52-week range on MNMD shows that it touched its highest point at $32.40 and its lowest point at $2.35 during that stretch.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of MNMD was down-trending over the past week, with a drop of -5.46%, but this was down by -1.42% over a month. Three-month performance dropped to -77.85% while six-month performance fell -76.13%. The stock lost -90.95% in the past year, while it has lost -86.62% so far this year. A look at the trailing 12-month EPS for MNMD yields -0.23 with Next year EPS estimates of -1.85. For the next quarter, that number is -0.46. This implies an EPS growth rate of 45.50% for this year and 1.60% for next year.

Float and Shares Shorts:

At present, 37.57 million MNMD shares are outstanding with a float of 32.93 million shares on hand for trading. On Oct 13, 2022, short shares totaled 1.0 million, which was 2.82% higher than short shares on Sep 14, 2022. In addition to Mr. Robert Barrow as the firm’s CEO & Director, Dr. Miriam Halperin Wernli Ph.D. serves as its Exec. Pres.

Institutional Ownership:

Through their ownership of 11.02% of MNMD’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 11.14% of MNMD, in contrast to 1.45% held by mutual funds. Shares owned by individuals account for 1.40%. As the largest shareholder in MNMD with 3.04% of the stake, Merit Financial Group LLC holds 1,080,574 shares worth 1,080,574. A second-largest stockholder of MNMD, Alyeska Investment Group LP, holds 1,000,000 shares, controlling over 2.82% of the firm’s shares. Heights Capital Management, Inc. is the third largest shareholder in MNMD, holding 652,374 shares or 1.84% stake. With a 0.31% stake in MNMD, the Horizons Psychedelic Stock Index is the largest stakeholder. A total of 108,478 shares are owned by the mutual fund manager. The AdvisorShares Psychedelics ETF, which owns about 0.28% of MNMD stock, is the second-largest Mutual Fund holder. It holds 105,024 shares valued at 0.31 million. SPDR Portfolio Developed World ex holds 0.11% of the stake in MNMD, owning 40,851 shares worth 0.12 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for MNMD since 8 analysts follow the stock currently. There are 8 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 0 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With MNMD analysts setting a high price target of $75.00 and a low target of $5.00, the average target price over the next 12 months is $30.42. Based on these targets, MNMD could surge 2607.58% to reach the target high and rise by 80.51% to reach the target low. Reaching the average price target will result in a growth of 998.19% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. MNMD will report FY 2022 earnings on 04/04/2023. Analysts have provided yearly estimates in a range of -$2.19 being high and -$2.42 being low. For MNMD, this leads to a yearly average estimate of -$2.29. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Mind Medicine (MindMed) Inc. surprised analysts by $0.03 when it reported -$0.56 EPS against a consensus estimate of -$0.59. The surprise factor in the prior quarter was $0.15. Based on analyst estimates, the high estimate for the next quarter is -$0.43 and the low estimate is -$0.60. The average estimate for the next quarter is thus -$0.48.

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