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

Clearmind Medicine Inc. (NASDAQ:CMND) saw a large growth in short interest in 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 days-to-cover ratio is currently 0.1 days. Approximately 34.1% of the company’s shares are sold short.

Insider Transactions at Clearmind Medicine

In other Clearmind Medicine news, major shareholder Financial Lp Hrt sold 22,139 shares of the company’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 transaction, the insider directly owned 81,353 shares in the company, valued at $269,278.43. This represents a 21.39% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last three months, insiders have sold 252,615 shares of company stock valued at $117,933.

Clearmind Medicine Trading Down 7.1%

Shares of Clearmind Medicine stock opened at $2.49 on Friday. The stock’s fifty day moving average price is $4.62 and its 200-day moving average price is $13.10. The firm has a market cap of $2.54 million, a P/E ratio of -0.02 and a beta of 0.64. Clearmind Medicine has a 12 month low of $2.10 and a 12 month high of $524.00.

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

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded Clearmind Medicine from a “strong sell” rating to a “sell” rating in a report on Saturday, June 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.