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

Clearmind Medicine Inc. (NASDAQ:CMND) was the recipient of a large increase in short interest during the month of December. As of December 31st, there was short interest totaling 44,113 shares, an increase of 60.2% from the December 15th total of 27,537 shares. Based on an average daily volume of 207,647 shares, the short-interest ratio is currently 0.2 days. Currently, 2.9% of the shares of the stock are sold short. Currently, 2.9% of the shares of the stock are sold short. Based on an average daily volume of 207,647 shares, the short-interest ratio is currently 0.2 days.

Clearmind Medicine Trading Down 4.9%

CMND stock opened at $2.50 on Friday. The company has a market cap of $3.75 million, a price-to-earnings ratio of -0.08 and a beta of 1.36. Clearmind Medicine has a 12 month low of $1.74 and a 12 month high of $62.00. The firm has a 50-day moving average of $5.29 and a two-hundred day moving average of $27.82.

Hedge Funds Weigh In On Clearmind Medicine

An institutional investor recently raised its position in Clearmind Medicine stock. AdvisorShares Investments LLC raised its stake in Clearmind Medicine Inc. (NASDAQ:CMND) by 9.0% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 224,378 shares of the company’s stock after buying an additional 18,445 shares during the quarter. AdvisorShares Investments LLC owned approximately 4.10% of Clearmind Medicine worth $230,000 at the end of the most recent quarter. 96.05% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

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.