How does Mind Medicine (MindMed) Inc. (MNMD) change from a tortoise to a hare?

Mind Medicine (MindMed) Inc. (NASDAQ: MNMD) stock jumped 7.27% on Friday to $3.54 against a previous-day closing price of $3.30. With 0.65 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.61 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $3.5400 whereas the lowest price it dropped to was $3.2591. The 52-week range on MNMD shows that it touched its highest point at $22.20 and its lowest point at $2.12 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 up-trending over the past week, with a rise of 13.83%, but this was up by 34.09% over a month. Three-month performance surged to 25.53% while six-month performance fell -68.93%. The stock lost -76.63% in the past year, while it has gained 60.91% so far this year. A look at the trailing 12-month EPS for MNMD yields -0.23 with Next year EPS estimates of -1.95. For the next quarter, that number is -0.50. This implies an EPS growth rate of 34.20% for this year and 14.10% 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 7.24% of MNMD, in contrast to 3.14% held by mutual funds. Shares owned by individuals account for 1.36%. As the largest shareholder in MNMD with 2.66% of the stake, Alyeska Investment Group LP holds 1,000,000 shares worth 1,000,000. A second-largest stockholder of MNMD, Heights Capital Management, Inc., holds 652,374 shares, controlling over 1.74% of the firm’s shares. Merit Financial Group LLC is the third largest shareholder in MNMD, holding 540,287 shares or 1.44% stake. With a 1.54% stake in MNMD, the Vanguard Extended Market Index Fu is the largest stakeholder. A total of 578,200 shares are owned by the mutual fund manager. The Schwab US Small Cap ETF, which owns about 0.37% of MNMD stock, is the second-largest Mutual Fund holder. It holds 138,964 shares valued at 0.31 million. AdvisorShares Psychedelics ETF holds 0.32% of the stake in MNMD, owning 119,437 shares worth 0.26 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 $23.63. Based on these targets, MNMD could surge 2018.64% to reach the target high and rise by 41.24% to reach the target low. Reaching the average price target will result in a growth of 567.51% 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 03/25/2024. 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 -$2.30. 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 -$0.49.

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