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

Clearmind Medicine Inc. (NASDAQ:CMND) was the target of a significant decline in short interest in May. As of May 29th, there was short interest totaling 40,505 shares, a decline of 80.3% from the May 14th total of 205,330 shares. Currently, 4.0% of the company’s stock are short sold. Based on an average trading volume of 5,667,197 shares, the short-interest ratio is presently 0.0 days.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised shares of Clearmind Medicine to a “sell” rating in a research report on Saturday, May 23rd.

Clearmind Medicine Price Performance

Shares of NASDAQ:CMND remained flat at $3.34 on Friday. 161,123 shares of the stock were exchanged, compared to its average volume of 1,154,215. The business has a 50-day moving average price of $6.37 and a 200-day moving average price of $17.01. Clearmind Medicine has a 1-year low of $2.10 and a 1-year high of $524.00. The company has a market cap of $3.40 million, a PE ratio of -0.02 and a beta of 0.64.

Clearmind Medicine (NASDAQ:CMND) last announced its earnings results on Thursday, March 12th. The company reported ($33.20) EPS for the quarter.

Insider Activity at Clearmind Medicine

In other news, major shareholder Financial Lp Hrt bought 2,159,052 shares of the stock in a transaction that occurred on Wednesday, June 10th. The stock was purchased at an average price of $0.15 per share, for a total transaction of $323,857.80. Following the completion of the purchase, the insider owned 2,063,266 shares in the company, valued at approximately $309,489.90. This trade represents a -2,254.04% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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.