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

Clearmind Medicine Inc. (NASDAQ:CMND) was the recipient of a significant growth in short interest in the month of February. As of February 13th, there was short interest totaling 132,651 shares, a growth of 351.5% from the January 29th total of 29,379 shares. Based on an average trading volume of 809,368 shares, the short-interest ratio is currently 0.2 days. Approximately 8.8% of the shares of the company are short sold. Approximately 8.8% of the shares of the company are short sold. Based on an average trading volume of 809,368 shares, the short-interest ratio is currently 0.2 days.

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 disclosure with the Securities & Exchange Commission. The fund owned 224,378 shares of the company’s stock after purchasing an additional 18,445 shares during the period. AdvisorShares Investments LLC owned approximately 4.10% of Clearmind Medicine worth $230,000 as of its most recent filing with the Securities & Exchange Commission. Institutional investors and hedge funds own 96.05% of the company’s stock.

Clearmind Medicine Stock Up 0.9%

Shares of CMND traded up $0.01 during trading hours on Friday, hitting $1.16. The company had a trading volume of 34,135 shares, compared to its average volume of 292,334. Clearmind Medicine has a 52-week low of $1.05 and a 52-week high of $52.40. The stock’s 50 day moving average price is $1.99 and its 200 day moving average price is $20.05. The firm has a market cap of $1.74 million, a P/E ratio of -0.04 and a beta of 1.35.

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

Wall Street Analyst Weigh In

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

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.