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

Clearmind Medicine Inc. (NASDAQ:CMND) was the target of a large increase in short interest in the month of December. As of December 31st, there was short interest totaling 44,113 shares, an increase of 60.2% from the December 15th total of 27,537 shares. Based on an average trading volume of 207,647 shares, the short-interest ratio is presently 0.2 days. Currently, 2.9% of the shares of the company are sold short. Currently, 2.9% of the shares of the company are sold short. Based on an average trading volume of 207,647 shares, the short-interest ratio is presently 0.2 days.

Institutional Trading of Clearmind Medicine

A hedge fund recently raised its stake in Clearmind Medicine stock. AdvisorShares Investments LLC raised its position in Clearmind Medicine Inc. (NASDAQ:CMND) by 9.0% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 224,378 shares of the company’s stock after buying an additional 18,445 shares during the period. 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.

Analyst Ratings Changes

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

Clearmind Medicine Trading Up 7.3%

Shares of NASDAQ:CMND opened at $2.63 on Friday. Clearmind Medicine has a 12-month low of $1.74 and a 12-month high of $62.80. The business has a 50 day moving average of $5.79 and a two-hundred day moving average of $28.05. The company has a market capitalization of $3.95 million, a PE ratio of -0.09 and a beta of 1.36.

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.