Clearmind Medicine Inc. (NASDAQ:CMND) Short Interest Down 45.6% in July

Clearmind Medicine Inc. (NASDAQ:CMND) was the target of a large drop in short interest in July. As of July 31st, there was short interest totaling 47,941 shares, a drop of 45.6% from the July 15th total of 88,087 shares. Based on an average daily volume of 242,713 shares, the days-to-cover ratio is currently 0.2 days. Approximately 4.7% of the shares of the stock are sold short.

Insider Activity

In related news, major shareholder Financial Lp Hrt sold 22,139 shares of the business’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $3.31, for a total value of $73,280.09. Following the sale, the insider directly owned 81,353 shares in the company, valued at approximately $269,278.43. The trade was a 21.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Over the last three months, insiders sold 252,615 shares of company stock valued at $117,933.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised shares of Clearmind Medicine from a “strong sell” rating to a “sell” rating in a report on Saturday, June 20th.

Clearmind Medicine Stock Performance

Shares of CMND stock traded up $0.03 during mid-day trading on Monday, reaching $1.89. 45,763 shares of the company were exchanged, compared to its average volume of 1,001,865. Clearmind Medicine has a fifty-two week low of $1.43 and a fifty-two week high of $524.00. The business’s 50 day simple moving average is $2.23 and its 200 day simple moving average is $6.84. The company has a market capitalization of $1.93 million, a P/E ratio of -0.01 and a beta of 0.75.

Clearmind Medicine (NASDAQ:CMND) last released its quarterly earnings data on Monday, June 15th. The company reported ($6.78) earnings per share (EPS) for the quarter.

About Clearmind Medicine

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.