Clearmind Medicine Inc. (NASDAQ:CMND) Short Interest Down 90.2% in December

Clearmind Medicine Inc. (NASDAQ:CMND) was the recipient of a significant drop in short interest in the month of December. As of December 15th, there was short interest totaling 27,537 shares, a drop of 90.2% from the November 30th total of 280,860 shares. Currently, 1.8% of the company’s stock are short sold. Based on an average daily trading volume, of 575,894 shares, the short-interest ratio is currently 0.0 days. Based on an average daily trading volume, of 575,894 shares, the short-interest ratio is currently 0.0 days. Currently, 1.8% of the company’s stock are short sold.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Clearmind Medicine stock. AdvisorShares Investments LLC increased its stake in shares of Clearmind Medicine Inc. (NASDAQ:CMND) by 9.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 224,378 shares of the company’s stock after purchasing an additional 18,445 shares during the quarter. AdvisorShares Investments LLC owned 4.10% of Clearmind Medicine worth $230,000 at the end of the most recent quarter. Institutional investors and hedge funds own 96.05% of the company’s stock.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded shares of Clearmind Medicine to a “sell” rating in a report on Saturday, December 20th.

Clearmind Medicine Price Performance

CMND stock traded down $0.07 during mid-day trading on Friday, reaching $2.23. 52,325 shares of the company’s stock were exchanged, compared to its average volume of 105,757. The company has a market cap of $3.34 million, a price-to-earnings ratio of -0.07 and a beta of 1.18. Clearmind Medicine has a 12-month low of $2.20 and a 12-month high of $70.00. The stock’s 50 day moving average is $16.20 and its 200 day moving average is $31.49.

Clearmind Medicine Company Profile

Clearmind Medicine, Inc is a clinical-stage biotechnology company focused on the discovery and development of novel psychoplastogen-based therapeutics for neuropsychiatric and neurodegenerative disorders. The company leverages a proprietary chemistry platform to design small-molecule compounds that promote rapid and sustained neural plasticity without the hallucinogenic effects typically associated with psychedelic agents. By targeting fundamental mechanisms of synaptic growth and repair, Clearmind aims to address conditions ranging from mood and anxiety disorders to cognitive impairment in dementia.

Clearmind’s pipeline includes multiple preclinical and early clinical candidates.