Clearmind Medicine Inc. (NASDAQ:CMND) Short Interest Update

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

Analysts Set New Price Targets

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

Institutional Trading of Clearmind Medicine

An institutional investor recently raised its position in Clearmind Medicine stock. AdvisorShares Investments LLC raised its holdings in shares of Clearmind Medicine Inc. (NASDAQ:CMND) by 9.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm 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 at the end of the most recent reporting period. 96.05% of the stock is owned by hedge funds and other institutional investors.

Clearmind Medicine Stock Down 2.5%

Clearmind Medicine stock traded down $0.03 during mid-day trading on Wednesday, reaching $1.16. 159,127 shares of the company’s stock traded hands, compared to its average volume of 390,864. Clearmind Medicine has a 12-month low of $1.05 and a 12-month high of $58.00. The stock has a 50 day moving average of $2.63 and a two-hundred day moving average of $23.02. The company has a market cap of $1.74 million, a price-to-earnings ratio of -0.04 and a beta of 1.35.

Clearmind Medicine (NASDAQ:CMND) last announced its earnings results on Tuesday, January 20th. The company reported ($4.75) earnings per share (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.