Short Interest in Clearmind Medicine Inc. (NASDAQ:CMND) Drops By 41.5%

Clearmind Medicine Inc. (NASDAQ:CMND) saw a significant drop in short interest in June. As of June 30th, there was short interest totaling 203,361 shares, a drop of 41.5% from the June 15th total of 347,793 shares. Based on an average daily trading volume, of 824,480 shares, the days-to-cover ratio is presently 0.2 days. Approximately 20.0% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

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

Clearmind Medicine Trading Down 2.5%

Clearmind Medicine stock traded down $0.05 during mid-day trading on Friday, hitting $1.94. The stock had a trading volume of 192,524 shares, compared to its average volume of 1,056,532. The stock has a 50-day simple moving average of $2.94 and a two-hundred day simple moving average of $10.05. The stock has a market capitalization of $1.98 million, a PE ratio of -0.01 and a beta of 0.74. Clearmind Medicine has a 12 month low of $1.74 and a 12 month high of $524.00.

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

Insider Activity

In other Clearmind Medicine news, major shareholder Financial Lp Hrt purchased 2,159,052 shares of the business’s stock in a transaction that occurred on Wednesday, June 10th. The stock was acquired at an average cost of $0.15 per share, with a total value of $323,857.80. Following the completion of the acquisition, the insider directly owned 2,063,266 shares of the company’s stock, valued at $309,489.90. This represents a -2,254.04% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 252,615 shares of company stock valued at $117,933 over the last three months.

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.