Mind Medicine (MindMed) (OTCMKTS:MMEDF) Trading Down 5.1% – Time to Sell?

Mind Medicine (MindMed) Inc. (OTCMKTS:MMEDF)’s stock price dropped 5.1% on Tuesday . The stock traded as low as $16.44 and last traded at $16.51. Approximately 1,992,119 shares traded hands during trading, a decline of 41% from the average daily volume of 3,376,665 shares. The stock had previously closed at $17.40.

Mind Medicine (MindMed) Price Performance

The stock’s 50 day moving average is $13.19 and its 200-day moving average is $11.50.

About Mind Medicine (MindMed)

Mind Medicine (MindMed) is a clinical-stage biotechnology company focused on developing innovative therapies derived from psychedelic compounds to address mental health disorders and addiction. The company’s research pipeline includes programs based on LSD, psilocybin and 18-methoxycoronaridine (18-MC), targeting conditions such as anxiety disorders, attention-deficit/hyperactivity disorder (ADHD) and opioid dependence. MindMed seeks to build a portfolio of drug candidates that combine pharmacological efficacy with optimized dosing regimens and delivery methods.

Founded in 2019 and headquartered in New York City, MindMed operates research facilities in North America and Europe, collaborating with academic institutions and medical centers to advance its clinical trials.