Clearmind Medicine Inc. (NASDAQ:CMND) Short Interest Down 22.3% in February

Clearmind Medicine Inc. (NASDAQ:CMND) saw a significant decrease in short interest in the month of February. As of February 27th, there was short interest totaling 103,059 shares, a decrease of 22.3% from the February 12th total of 132,651 shares. Approximately 6.9% of the shares of the company are short sold. Based on an average daily trading volume, of 38,708 shares, the days-to-cover ratio is currently 2.7 days. Based on an average daily trading volume, of 38,708 shares, the days-to-cover ratio is currently 2.7 days. Approximately 6.9% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On Clearmind Medicine

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

Clearmind Medicine Price Performance

NASDAQ CMND traded down $0.02 during trading on Monday, hitting $0.76. 109,650 shares of the company’s stock traded hands, compared to its average volume of 260,543. The stock has a fifty day moving average of $1.74 and a two-hundred day moving average of $16.69. Clearmind Medicine has a 12-month low of $0.70 and a 12-month high of $52.40. The firm has a market cap of $1.14 million, a P/E ratio of -0.03 and a beta of 1.51.

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