Short Interest in Clearmind Medicine Inc. (NASDAQ:CMND) Decreases By 56.7%

Clearmind Medicine Inc. (NASDAQ:CMND) was the recipient of a significant decline in short interest in the month of July. As of July 15th, there was short interest totaling 88,087 shares, a decline of 56.7% from the June 30th total of 203,361 shares. Approximately 8.6% of the shares of the company are short sold. Based on an average daily trading volume, of 1,322,969 shares, the days-to-cover ratio is currently 0.1 days.

Clearmind Medicine Trading Down 7.7%

Shares of Clearmind Medicine stock traded down $0.12 on Tuesday, hitting $1.50. 280,906 shares of the company traded hands, compared to its average volume of 1,089,664. Clearmind Medicine has a 12-month low of $1.43 and a 12-month high of $524.00. The company has a market cap of $1.52 million, a P/E ratio of -0.01 and a beta of 0.74. The firm’s 50-day simple moving average is $2.54 and its 200 day simple moving average is $9.17.

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

Analysts Set New Price Targets

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

Insider Activity at Clearmind Medicine

In other news, major shareholder Financial Lp Hrt acquired 2,159,052 shares of the firm’s stock in a transaction that occurred on Wednesday, June 10th. The stock was bought at an average price of $0.15 per share, with a total value of $323,857.80. Following the acquisition, the insider owned 2,063,266 shares in the company, valued at $309,489.90. The trade was a -2,254.04% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last 90 days, insiders sold 252,615 shares of company stock worth $117,933.

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.