How to Buy Mind Medicine Stock
Mind Medicine Inc
Mind Medicine (MindMed) Inc. , a clinical stage biopharmaceutical company, develops novel products to treat brain health disorders related to psychiatry, addiction, pain, and neurology.
Mind Medicine stock last closed at $8.91, down 6.51% from the previous day, and has increased 142.78% in one year. It has overperformed other stocks in the Biotechnology industry by 1.69 percentage points. Mind Medicine stock is currently +269.71% from its 52-week low of $2.41, and -27.09% from its 52-week high of $12.22.
As of Apr 18, 2024, there are 41.33M shares of MNMD outstanding. The market value of MNMD is $368.29M. In the last 24 hours, 1.65M MNMD shares were traded.
How to Buy Mind Medicine Stock
Wondering how to invest in Mind Medicine stock? Here's how.
- Figure out where to buy Mind Medicine stock: You need to decide on an online brokerage, but don't worry - we've tested dozens of stock brokerages and apps to help you decide where to buy Mind Medicine stock.
- Sign up for a brokerage account: Sign up for 0% commission trading with the highest-rated brokerage we've found.
- Fund your investment account: Pick your method of payment and add your details.
- Research Mind Medicine stock: The Mind Medicine ticker symbol is MNMD. Is Mind Medicine stock a good investment? Should you buy shares of MNMD? How do MNMD's underlying business fundamentals look? Do top analysts think Mind Medicine is a good buy? Why has MNMD's stock price moved recently? (Hint: Our stock market analysis tools can help you decide if MNMD is a good stock to buy).
- Execute your MNMD purchase: Decide if you will purchase MNMD shares at the current market price or use a limit order to buy MNMD shares at a particular price.
- Keep tabs on your MNMD position: Create a watchlist to important notifications about your investment in Mind Medicine shares.
Step 1: Figure out where to buy Mind Medicine stock
You will need a brokerage account in order to access the NASDAQ market and buy MNMD stock.
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Open eToro AccountStep 2: Sign up for a brokerage account
Now that you've selected your brokerage, the next step is to fill out some personal details so you can invest in MNMD stock today.
How to Open a New Account on eToro
- Click here to get started.eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
- Input your personal data to open a new trading account.
- Send your details by pressing the "Create Account" button. Get started with eToro today
Step 3: Fund your investment account
Now that you have finished signing up on the highest rated stock app, you can securely and quickly fund your account:
Watch the walkthrough below if you need help depositing money into your brokerage account.
Step 4: Research Mind Medicine stock
Once you have chosen the best place to buy Mind Medicine stock, it's important to analyze their stock before you invest, so you can wrap your head around the risk and upside.
Mind Medicine shares quick numbers
Mind Medicine Overview
WallStreetZen was designed to help everyday investors do better fundamental analysis in less time.
You can see all of the due diligence checks on MNMD's stock page.
What is the fair value of MNMD stock?
You can use a variety of different financial metrics, analyses, models, and charts to gauge MNMD's fair value.
Using relative valuations metrics:
- MNMD could be undervalued based on its P/B ratio of 4.71x, relative to Biotechnology industry P/B ratio of 5.76x
You can access more valuation analysis on MNMD's stock here.
How do MNMD Financials look?
Signs that MNMD is financially healthy:
- There are more short-term assets than short-term liabilities on the MNMD balance sheet.
- MNMD has cash burn of 64365000. It has enough cash and short-term investments to cover this for at least one year.
- There are more short-term assets than long-term liabilities on the MNMD balance sheet.
Signs that MNMD is not financially healthy:
- MNMD has a relatively high debt to equity ratio of 0.59.
- MNMD has $99.70M in cash and short term investments. This is not enough to cover its annual cash burn of $64.37M.
Is it a good time to buy Mind Medicine stock, according to analysts?
Out of 4 sell side analysts who monitor MNMD, the consensus analyst rating on MNMD is a Strong Buy
Please keep in mind that analyst forecasts are not stock recommendations, nor are they financial advice.
You can dig deeper into what analysts are projecting on the Mind Medicine stock forecast page.
MNMD Momentum
Are MNMD executives and large shareholders buying or selling the stock?
In the last 12 months, insiders at MNMD have sold more shares than they have bought.
Robert Barrow, Chief Executive Officer of MNMD, was the latest MNMD insider to sell. They sold $156,930.50 worth of MNMD stock on Mar 25, 2024.
Get more info about who owns MNMD shares here.
Does MNMD stock generate passive income?
No, Mind Medicine doesn't provide an income stream by paying out dividends.
MNMD Social Trading Data
One of the primary reasons eToro is our highest-rated brokerage is because of its social trading community.
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Step 5: Execute your MNMD purchase
You have two primary order types:
- Market order: A market order is an order to buy or sell a stock at the best price on the market.
Market orders are generally sufficient. - Limit order: A limit order lets you buy or sell a security at a specific price (or better).
If you want to make sure you're buying or selling at a given dollar amount limit, place a limit order.
Click the Open button and your broker will execute your order.
If you want more info about investing in stocks on eToro, click the how to video below:
Step 6: Keep tabs on your MNMD position
Now that you own some MNMD stock, you'll want to stay up-to-date on your new investment.
Add MNMD to a watchlist to monitor your MNMD stock.
MNMD Feed
How to Buy Stock in Mind Medicine
To summarize, here are the 6 steps to buy Mind Medicine stock:
- Figure out where to buy Mind Medicine stock
- Sign up for a brokerage account
- Fund your investment account
- Research Mind Medicine stock
- Execute your MNMD purchase
- Keep tabs on your MNMD position
If you are looking for a brokerage, eToro is our recommended venue.
Get Started with eToro TodayIf you want to keep an eye on your investment in Mind Medicine, create a watchlist on WallStreetZen today.
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