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 $26,487 were purchased by Sullivan, Mark on Sep 25 ’24. At $5.98 per share, Sullivan, Mark acquired 4,430 shares.
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Also, Liao Carrie sold 2,352 shares, netting a total of over 14,065 in proceeds. Following the sale of shares at $5.98 each, the insider now holds 99,543 shares.
Before that, Barrow Robert had sold 19,771 shares from its account. In a trade valued at $118,231, the Chief Executive Officer traded Mind Medicine Inc shares for $5.98 each. Upon closing the transaction, the insider’s holdings decreased to 19,771 shares, worth approximately $3.21 million.
As published in their initiating research note from ROTH MKM on July 24, 2024, Mind Medicine Inc [MNMD] has been a Buy and the price target has been revised to $36. Analysts at Robert W. Baird started covering the stock with ‘”an Outperform”‘ outlook in a report released in late May. As of April 15, 2024, Leerink Partners has initiated its “an Outperform” rating for MNMD. Earlier on December 05, 2023, Canaccord Genuity initiated its rating. Their recommendation was “a Buy” for MNMD stock.
Analyzing MNMD Stock Performance
During the last five days, there has been a drop of approximately -6.66%. Over the course of the year, Mind Medicine Inc shares have jumped approximately 60.93%. 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 $6.89, while a 200-day SMA reached $6.91. Nevertheless, trading volume fell to 0.73 million shares from 0.73 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 5.79, which, if violated, would cause prices to drop to 5.70. In the upper region, resistance lies at 6.02. The next price resistance is at 6.15. RSI (Relative Strength Index) is 42.47 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.10, which suggests the price will decrease in the coming days. Percent R is at 78.26%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
