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 $3.66, down 3.17% from the previous day, and has decreased 71.37% in one year. It has underperformed other stocks in the Biotechnology industry by 0.58 percentage points. Mind Medicine stock is currently +72.64% from its 52-week low of $2.12, and -81.65% from its 52-week high of $19.95.
As of Jun 9, 2023, there are 38.6M shares of MNMD outstanding. The market value of MNMD is $141.26M. In the last 24 hours, 327,798 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.
- Input your personal data to open a new trading account.
- Send your details by pressing the "Create Account" button.
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 1.08x, relative to Biotechnology industry P/B ratio of 5.2x
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 $129.41M in cash and short term investments. This is enough to cover its annual cash burn of $50.60M.
- MNMD has a low debt to equity ratio of 0.19.
- MNMD has cash burn of 50604000. 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.
Is it a good time to buy Mind Medicine stock, according to analysts?
Out of 5 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.
Latest MNMD Analyst Ratings
Charles Duncan, a top 2% analyst from Cantor Fitzgerald reiterates MNMD with a strong buy rating and maintains their MNMD price target from $7.00 to $7.00, on May 18, 2023.
Elemer Piros, a bottom 5% analyst from EF Hutton reiterates MNMD with a strong buy rating and maintains their MNMD price target from $21.00 to $21.00, on May 18, 2023.
Patrick Trucchio, a bottom 1% analyst from HC Wainwright & Co. reiterates MNMD with a buy rating and maintains their MNMD price target from $75.00 to $75.00, on May 9, 2023.
Francois Brisebois, a bottom 3% analyst from Oppenheimer reiterates MNMD with a buy rating and maintains their MNMD price target from $22.00 to $22.00, on Apr 14, 2023.
Brian Abrahams, a top 1% analyst from RBC Capital reiterates MNMD with a buy rating and maintains their MNMD price target from $5.00 to $5.00, on Mar 10, 2023.
You can dive deeper into what analysts are forecasting on the Mind Medicine stock forecast page.
MNMD Technicals
Who is buying/selling MNMD?
In the past 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 $29,038.23 worth of MNMD stock on Mar 1, 2023.
Dig into more about who owns MNMD shares here.
Does MNMD provide a stable income stream?
No, Mind Medicine doesn't provide an income stream by paying out dividends.
What others are saying about MNMD
One of the biggest reasons eToro is our highest-rated brokerage is because of its social trading community.
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Step 5: Execute your MNMD purchase
There are two main order types:
- Market order: A market order is an order to buy or sell a stock at the best available price.
Market orders are generally the best for newer investors. - Limit order: A limit order lets you buy or sell a security at a specific price (or better).
If you want to be sure you're buying or selling at a particular price, place a limit order.
Click the Open Trade button and your broker will place your order.
If you want additional help buying stocks on eToro, watch the how to video below:
Step 6: Keep tabs on your MNMD position
Now that you own some shares in MNMD, you'll want to stay up-to-date on your investment.
Start a watchlist to get alerted to the latest events about your MNMD stock.
MNMD Feed
How to Buy Stock in Mind Medicine
To reiterate, here are the 6 steps for buying 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 place to buy stocks, eToro is our favorite venue.
Get Started with eToro TodayIf you would like to keep an eye on your new investment in Mind Medicine, add MNMD to your watchlist by clicking the button below.
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