Clearmind Medicine (NASDAQ:CMND) Stock Price Down 4.8% – Here’s Why

Shares of Clearmind Medicine Inc. (NASDAQ:CMND) fell 4.8% on Tuesday . The company traded as low as $0.96 and last traded at $1.00. 81,242 shares were traded during trading, a decline of 93% from the average session volume of 1,084,850 shares. The stock had previously closed at $1.05.

Clearmind Medicine Trading Down 4.8 %

The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.72 and a current ratio of 1.72. The firm has a market cap of $4.27 million, a price-to-earnings ratio of -0.53 and a beta of 0.94. The business has a fifty day simple moving average of $1.11 and a 200-day simple moving average of $1.31.

Clearmind Medicine (NASDAQ:CMND) last released its quarterly earnings results on Thursday, March 13th. The company reported ($0.24) earnings per share for the quarter.

Hedge Funds Weigh In On Clearmind Medicine

A hedge fund recently raised its stake in Clearmind Medicine stock. Citadel Advisors LLC increased its holdings in Clearmind Medicine Inc. (NASDAQ:CMND) by 115.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 38,158 shares of the company’s stock after purchasing an additional 20,429 shares during the quarter. Citadel Advisors LLC owned approximately 0.89% of Clearmind Medicine worth $53,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 96.05% of the company’s stock.

Clearmind Medicine Company Profile

Clearmind Medicine Inc, a clinical pharmaceutical company, develops novel psychedelic medicines to treat under-served health problems in Canada and internationally. It develops treatments for alcohol use disorders, mental health disorder, binge drinking, obesity and metabolic disorder, and eating disorders, as well as depression, binge eating, psychotherapy, and other addiction and binge behaviors.