Clearmind Medicine Inc. (NASDAQ:CMND) Short Interest Down 26.5% in March

Clearmind Medicine Inc. (NASDAQ:CMND) saw a significant drop in short interest in the month of March. As of March 31st, there was short interest totaling 47,081 shares, a drop of 26.5% from the March 15th total of 64,024 shares. Approximately 3.1% of the company’s shares are sold short. Based on an average daily volume of 202,191 shares, the short-interest ratio is currently 0.2 days.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Clearmind Medicine

An institutional investor recently raised its position in Clearmind Medicine stock. AdvisorShares Investments LLC increased its position in shares of Clearmind Medicine Inc. (NASDAQ:CMND) by 9.0% during the 3rd quarter, according to its most recent 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. Institutional investors own 96.05% of the company’s stock.

Clearmind Medicine Stock Down 12.8%

Shares of CMND stock traded down $0.11 during mid-day trading on Friday, reaching $0.73. The company’s stock had a trading volume of 858,881 shares, compared to its average volume of 713,311. The company’s 50 day simple moving average is $1.03 and its 200-day simple moving average is $10.26. Clearmind Medicine has a 12-month low of $0.59 and a 12-month high of $52.40. The firm has a market capitalization of $1.09 million, a PE ratio of -0.04 and a beta of 1.32.

Clearmind Medicine (NASDAQ:CMND) last issued its earnings results on Thursday, March 12th. The company reported ($3.32) 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.