Clearmind Medicine Inc. (NASDAQ:CMND) Sees Significant Growth in Short Interest

Clearmind Medicine Inc. (NASDAQ:CMND) was the target of a significant growth in short interest during the month of January. As of January 15th, there was short interest totaling 100,877 shares, a growth of 128.7% from the December 31st total of 44,113 shares. Approximately 6.7% of the company’s shares are short sold. Based on an average daily volume of 193,471 shares, the days-to-cover ratio is currently 0.5 days. Based on an average daily volume of 193,471 shares, the days-to-cover ratio is currently 0.5 days. Approximately 6.7% of the company’s shares are short sold.

Analyst Upgrades and Downgrades

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

Clearmind Medicine Stock Down 11.8%

NASDAQ CMND traded down $0.30 on Thursday, reaching $2.22. 37,248 shares of the stock traded hands, compared to its average volume of 128,123. The firm’s fifty day simple moving average is $3.49 and its 200 day simple moving average is $25.66. Clearmind Medicine has a 12 month low of $1.74 and a 12 month high of $60.00. The company has a market cap of $3.33 million, a price-to-earnings ratio of -0.08 and a beta of 1.36.

Institutional Trading of Clearmind Medicine

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

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.