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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 $7.95, down 5.36% from the previous day, and has increased 127.79% in one year. It has overperformed other stocks in the Biotechnology industry by 1.51 percentage points. Mind Medicine stock is currently +229.88% from its 52-week low of $2.41, and -34.94% from its 52-week high of $12.22.

As of May 23, 2024, there are 71.87M shares of MNMD outstanding. The market value of MNMD is $571.39M. In the last 24 hours, 909,645 MNMD shares were traded.

How to Buy Mind Medicine Stock

Wondering how to invest in Mind Medicine stock? Here's how.
  1. 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.
  2. Sign up for a brokerage account: Sign up for 0% commission trading with the highest-rated brokerage we've found.
  3. Fund your investment account: Pick your method of payment and add your details.
  4. 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).
  5. 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.
  6. 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.

A brokerage account is an investment account that allows you to buy and sell a variety of financial instruments, such as stocks, bonds, mutual funds, and ETFs.

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Step 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.

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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.

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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

MNMD Price
$7.95
1w %
-8.09%
1y %
127.79%
5y %
N/A
P/E
-2.7x
P/B
2.91x
P/S
N/A
PEG
N/A
Revenue
$0.00
Earnings
-$125.32M
Fore. Rev. Growth
N/A
Fore. Earn. Growth
N/A
Market Cap
$571.39M
Next Earnings
Jun 10, 2024
Next Dividend
N/A

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 2.91x, relative to Biotechnology industry P/B ratio of 6.06x

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 $252.33M in cash and short term investments. This is enough to cover its annual cash burn of $67.63M.
  • MNMD has cash burn of 67632000. 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 0.41.

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 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

SMA10
8.5
SMA20
8.92
SMA50
9.4
SMA100
7.12
SMA200
5.24
MACD
-0.27
MACD Signal
-0.16
MACD Histogram
-0.12
RSI
39.95
Stochastic %K
12.84
Stochastic %D
12.93
StochRSI %K
11.34
StochRSI %D
9.24

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

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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.

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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:

  1. Figure out where to buy Mind Medicine stock
  2. Sign up for a brokerage account
  3. Fund your investment account
  4. Research Mind Medicine stock
  5. Execute your MNMD purchase
  6. Keep tabs on your MNMD position

If you are looking for a brokerage, eToro is our recommended venue.

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eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.

If you want to keep an eye on your investment in Mind Medicine, create a watchlist on WallStreetZen today.

NASDAQ: MNMD
$7.95-0.45 (-5.36%)
Updated May 23, 2024
Open eToro Account
NASDAQ: MNMD
$7.95-0.45 (-5.36%)
Updated May 23, 2024
Open eToro Account

FAQ

How much does it cost to buy one Mind Medicine share?

As of May 23, 2024, it costs $7.95 to buy one share of Mind Medicine stock.

Remember, eToro's fractional share buying allows you to buy partial shares of stocks and ETFs. Even if you only have $3, you can buy 0.377 shares of MNMD.

Get Started with eToro Today
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.

Is now a good time to buy Mind Medicine stock?

According to 5 Wall Street analysts who monitor Mind Medicine, their consensus recommendation is to buy Mind Medicine stock.

What is the best way to buy Mind Medicine stock?

One way to place an order for Mind Medicine stock is with a brokerage account.
WallStreetZen does not provide financial advice and does not issue recommendations or offers to buy stock or sell any security.

Information is provided 'as-is' and solely for informational purposes and is not advice. WallStreetZen does not bear any responsibility for any losses or damage that may occur as a result of reliance on this data.