Short Interest in Clearmind Medicine Inc. (NASDAQ:CMND) Increases By 351.5%

Clearmind Medicine Inc. (NASDAQ:CMND) was the target of a large increase in short interest in the month of February. As of February 13th, there was short interest totaling 132,651 shares, an increase of 351.5% from the January 29th total of 29,379 shares. Approximately 8.8% of the shares of the company are short sold. Based on an average daily trading volume, of 809,368 shares, the days-to-cover ratio is currently 0.2 days. Based on an average daily trading volume, of 809,368 shares, the days-to-cover ratio is currently 0.2 days. Approximately 8.8% of the shares of the company are short sold.

Clearmind Medicine Price Performance

Shares of CMND stock opened at $1.17 on Thursday. Clearmind Medicine has a 1-year low of $1.05 and a 1-year high of $52.40. The company has a market cap of $1.76 million, a price-to-earnings ratio of -0.04 and a beta of 1.35. The stock has a 50 day simple moving average of $2.02 and a 200-day simple moving average of $20.18.

Clearmind Medicine (NASDAQ:CMND) last posted its quarterly earnings data on Tuesday, January 20th. The company reported ($4.75) earnings per share (EPS) for the quarter.

Analyst Upgrades and Downgrades

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

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 third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. 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 approximately 4.10% of Clearmind Medicine worth $230,000 at the end of the most recent quarter. 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.