Wall Street Zen Upgrades Clearmind Medicine (NASDAQ:CMND) to “Sell”

Clearmind Medicine (NASDAQ:CMND) was upgraded by equities researchers at Wall Street Zen to a “sell” rating in a research report issued on Saturday.

Clearmind Medicine Trading Up 5.0%

Shares of CMND stock opened at $2.74 on Friday. The company has a market capitalization of $4.11 million, a price-to-earnings ratio of -0.09 and a beta of 1.18. The firm has a 50-day moving average price of $19.04 and a 200 day moving average price of $32.46. Clearmind Medicine has a twelve month low of $2.36 and a twelve month high of $87.20.

Institutional Trading of Clearmind Medicine

An institutional investor recently raised its position in Clearmind Medicine stock. AdvisorShares Investments LLC raised its holdings in Clearmind Medicine Inc. (NASDAQ:CMND) by 9.0% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 224,378 shares of the company’s stock after acquiring an additional 18,445 shares during the period. AdvisorShares Investments LLC owned 4.10% of Clearmind Medicine worth $230,000 at the end of the most recent reporting period. Institutional investors own 96.05% of the company’s stock.

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.