Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Mind Medicine Inc shares valued at $156,930 were sold by Barrow Robert on Mar 25 ’24. At $9.50 per share, Barrow Robert sold 16,519 shares. The insider’s holdings dropped to 580,202 shares worth approximately $5.29 million following the completion of this transaction.
Also, Karlin Dan sold 6,578 shares, netting a total of over 62,491 in proceeds. Following the sale of shares at $9.50 each, the insider now holds 358,452 shares.
Before that, Barrow Robert had sold 13,237 shares from its account. In a trade valued at $48,050, the Chief Executive Officer traded Mind Medicine Inc shares for $3.63 each. Upon closing the transaction, the insider’s holdings decreased to 13,237 shares, worth approximately $5.44 million.
As published in their initiating research note from Leerink Partners on April 15, 2024, Mind Medicine Inc [MNMD] has been an Outperform and the price target has been revised to $20. Analysts at Canaccord Genuity started covering the stock with ‘”a Buy”‘ outlook in a report released in early December. Earlier on November 16, 2022, RBC Capital Mkts initiated its rating. Their recommendation was “an Outperform” for MNMD stock.
Analyzing MNMD Stock Performance
During the last five days, there has been a drop of approximately -4.20%. Over the course of the year, Mind Medicine Inc shares have jumped approximately 149.18%. Shares of the company reached a 52-week high of $12.22 on 04/04/24 and a 52-week low of $3.49 on 01/19/24. A 50-day SMA is recorded $9.17, while a 200-day SMA reached $5.04. Nevertheless, trading volume fell to 2.84 million shares from 1.09 million shares the previous day.
Support And Resistance Levels for Mind Medicine Inc (MNMD)
According to the 24-hour chart, there is a support level at 8.25, which, if violated, would cause prices to drop to 7.39. In the upper region, resistance lies at 9.68. The next price resistance is at 10.25. RSI (Relative Strength Index) is 48.46 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.28, which suggests the price will decrease in the coming days. Percent R is at 51.05%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
