Clearmind Medicine Inc. (NASDAQ:CMND) Sees Significant Decline in Short Interest

Clearmind Medicine Inc. (NASDAQ:CMND) was the recipient of a large decline in short interest in January. As of January 30th, there was short interest totaling 29,379 shares, a decline of 70.9% from the January 15th total of 100,877 shares. Based on an average daily trading volume, of 48,281 shares, the short-interest ratio is currently 0.6 days. Approximately 2.0% of the company’s stock are sold short. Approximately 2.0% of the company’s stock are sold short. Based on an average daily trading volume, of 48,281 shares, the short-interest ratio is currently 0.6 days.

Institutional Investors Weigh In On Clearmind Medicine

A hedge fund recently raised its stake in Clearmind Medicine stock. AdvisorShares Investments LLC raised its stake in shares of Clearmind Medicine Inc. (NASDAQ:CMND) by 9.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 224,378 shares of the company’s stock after buying an additional 18,445 shares during the period. AdvisorShares Investments LLC owned about 4.10% of Clearmind Medicine worth $230,000 as of its most recent SEC filing. Institutional investors and hedge funds own 96.05% of the company’s stock.

Clearmind Medicine Stock Performance

Shares of CMND stock traded down $0.04 during mid-day trading on Thursday, hitting $1.13. The company’s stock had a trading volume of 29,402 shares, compared to its average volume of 378,574. The stock has a market cap of $1.69 million, a price-to-earnings ratio of -0.04 and a beta of 1.35. Clearmind Medicine has a 52-week low of $1.05 and a 52-week high of $58.00. The business has a 50-day moving average price of $2.56 and a 200 day moving average price of $22.86.

Clearmind Medicine (NASDAQ:CMND) last released its quarterly earnings data on Tuesday, January 20th. The company reported ($4.75) EPS for the quarter.

Wall Street Analyst Weigh In

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

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.