Short Interest in Clearmind Medicine Inc. (NASDAQ:CMND) Declines By 37.9%

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

Institutional Investors Weigh In On Clearmind Medicine

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

Clearmind Medicine Trading Up 10.4%

Shares of NASDAQ:CMND traded up $0.08 during trading on Friday, hitting $0.81. 105,048 shares of the company’s stock were exchanged, compared to its average volume of 178,329. The firm has a 50-day moving average price of $1.39 and a two-hundred day moving average price of $14.03. Clearmind Medicine has a 1-year low of $0.59 and a 1-year high of $52.40. The firm has a market cap of $1.22 million, a P/E ratio of -0.04 and a beta of 1.51.

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

Analysts Set New Price Targets

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

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.