MNMD Stock Summary and Trading Ideas (Mind Medicine (Mindmed) - Common Shares | NASDAQ:MNMD)

Mind Medicine Inc is a biopharmaceutical company. The company produces to treat brain health disorders. The company discovers, develops, and deploys psychedelic inspired medicines and therapies to address addiction and mental illness. The company is assembling a compelling drug development pipeline of treatments based on psychedelic substances. The firm is having an approach towards developing the next generation of psychedelic-inspired medicines and therapies.

Mind Medicine (Mindmed) - Common Shares trades on the NASDAQ stock market under the symbol MNMD.

As of January 6, 2025, MNMD stock price climbed to $7.69 with 1,134,984 million shares trading.

MNMD has a beta of 1.10, meaning it tends to be more sensitive to market movements. MNMD has a correlation of 0.02 to the broad based SPY ETF.

MNMD has a market cap of $563.92 million. This is considered a Small Cap stock.

In the last 3 years, MNMD traded as high as $22.80 and as low as $2.12.

The top ETF exchange traded funds that MNMD belongs to (by Net Assets): IWM, VXF, IWO, VTWO, SCHA.

MNMD has outperformed the market in the last year with a price return of +114.2% while the SPY ETF gained +28.5%. MNMD has also outperformed the stock market ETF in the last 3 month and 2 week periods returning +40.7% and +7.4%, respectively, while the SPY returned +5.2% and +0.7%, respectively.

MNMD support price is $6.82 and resistance is $7.54 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that MNMD shares will trade within this expected range on the day.