Clearmind Medicine Inc. (NASDAQ:CMND) Short Interest Down 37.9% in March

Clearmind Medicine Inc. (NASDAQ:CMND) was the target of a large decline in short interest in the month of March. As of March 13th, there was short interest totaling 64,024 shares, a decline of 37.9% from the February 26th total of 103,059 shares. Based on an average daily trading volume, of 147,708 shares, the short-interest ratio is currently 0.4 days. Currently, 4.3% of the shares of the company are sold short.

Analysts Set New Price Targets

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

Clearmind Medicine Stock Up 5.2%

NASDAQ CMND traded up $0.04 during trading hours on Friday, hitting $0.78. The company had a trading volume of 26,529 shares, compared to its average volume of 253,523. The firm has a market cap of $1.16 million, a P/E ratio of -0.04 and a beta of 1.51. Clearmind Medicine has a fifty-two week low of $0.59 and a fifty-two week high of $52.40. The business has a fifty day simple moving average of $1.42 and a 200-day simple moving average of $14.49.

Clearmind Medicine (NASDAQ:CMND) last announced its quarterly earnings results on Thursday, March 12th. The company reported ($3.32) earnings per share (EPS) for the quarter.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Clearmind Medicine stock. AdvisorShares Investments LLC grew its holdings in shares of Clearmind Medicine Inc. (NASDAQ:CMND) by 9.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 224,378 shares of the company’s stock after purchasing an additional 18,445 shares during the period. AdvisorShares Investments LLC owned approximately 4.10% of Clearmind Medicine worth $230,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 96.05% of the company’s stock.

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.