Clearmind Medicine Inc. (NASDAQ:CMND) Sees Large Growth in Short Interest

Clearmind Medicine Inc. (NASDAQ:CMND) saw a large growth in short interest in the month of June. As of June 15th, there was short interest totaling 347,793 shares, a growth of 758.6% from the May 31st total of 40,505 shares. Based on an average daily trading volume, of 3,878,713 shares, the short-interest ratio is presently 0.1 days. Currently, 34.1% of the company’s shares are short sold.

Insiders Place Their Bets

In related news, major shareholder Financial Lp Hrt sold 22,139 shares of the firm’s stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $3.31, for a total value of $73,280.09. Following the completion of the sale, the insider directly owned 81,353 shares in the company, valued at $269,278.43. This trade represents a 21.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last 90 days, insiders sold 252,615 shares of company stock worth $117,933.

Analyst Ratings Changes

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

Clearmind Medicine Price Performance

Shares of NASDAQ:CMND opened at $2.49 on Friday. Clearmind Medicine has a 1 year low of $2.10 and a 1 year high of $524.00. The business has a 50 day simple moving average of $4.62 and a two-hundred day simple moving average of $13.10. The firm has a market capitalization of $2.54 million, a PE ratio of -0.02 and a beta of 0.64.

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

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.