Short Interest in Clearmind Medicine Inc. (NASDAQ:CMND) Declines By 70.9%

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

Clearmind Medicine Trading Down 2.5%

Shares of Clearmind Medicine stock traded down $0.03 on Wednesday, hitting $1.16. 159,127 shares of the company traded hands, compared to its average volume of 390,864. The company has a market cap of $1.74 million, a PE ratio of -0.04 and a beta of 1.35. The stock’s 50 day moving average price is $2.63 and its 200-day moving average price is $23.02. Clearmind Medicine has a 52 week low of $1.05 and a 52 week high of $58.00.

Clearmind Medicine (NASDAQ:CMND) last announced its quarterly earnings data on Tuesday, January 20th. The company reported ($4.75) earnings per share (EPS) for the quarter.

Institutional Trading of Clearmind Medicine

A hedge fund recently raised its stake in Clearmind Medicine stock. AdvisorShares Investments LLC boosted its holdings in shares of Clearmind Medicine Inc. (NASDAQ:CMND) by 9.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 224,378 shares of the company’s stock after acquiring an additional 18,445 shares during the period. AdvisorShares Investments LLC owned about 4.10% of Clearmind Medicine worth $230,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors and hedge funds own 96.05% of the company’s stock.

Wall Street Analysts Forecast Growth

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