The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Mind Medicine Inc shares valued at $128,906 were sold by Sullivan Mark on Jun 25 ’24. At $7.22 per share, Sullivan Mark sold 17,854 shares. The insider’s holdings dropped to 182,146 shares worth approximately $1.32 million following the completion of this transaction.
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Also, Barrow Robert sold 15,659 shares, netting a total of over 113,058 in proceeds. Following the sale of shares at $7.22 each, the insider now holds 564,543 shares.
Before that, Karlin Dan had sold 6,925 shares from its account. In a trade valued at $49,998, the Chief Medical Officer traded Mind Medicine Inc shares for $7.22 each. Upon closing the transaction, the insider’s holdings decreased to 6,925 shares, worth approximately $2.54 million.
As published in their initiating research note from Robert W. Baird on May 29, 2024, Mind Medicine Inc [MNMD] has been an Outperform and the price target has been revised to $27. Analysts at Leerink Partners started covering the stock with ‘”an Outperform”‘ outlook in a report released in mid April. As of December 05, 2023, Canaccord Genuity has initiated its “Buy” rating for MNMD.
Analyzing MNMD Stock Performance
During the last five days, there has been a drop of approximately -0.55%. Over the course of the year, Mind Medicine Inc shares have jumped approximately 97.54%. 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 $8.24, while a 200-day SMA reached $5.73. Nevertheless, trading volume fell to 0.53 million shares from 0.74 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 6.99, which, if violated, would cause prices to drop to 6.83. In the upper region, resistance lies at 7.31. The next price resistance is at 7.47. RSI (Relative Strength Index) is 42.61 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.27, which suggests the price will decrease in the coming days. Percent R is at 83.90%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
