Short Interest in Clearmind Medicine Inc. (NASDAQ:CMND) Decreases By 41.5%

Clearmind Medicine Inc. (NASDAQ:CMND) was the recipient of a significant decline in short interest in the month of June. As of June 30th, there was short interest totaling 203,361 shares, a decline of 41.5% from the June 15th total of 347,793 shares. Approximately 20.0% of the shares of the company are short sold. Based on an average daily trading volume, of 824,480 shares, the days-to-cover ratio is currently 0.2 days.

Clearmind Medicine Stock Performance

NASDAQ CMND traded up $0.22 during trading hours on Thursday, hitting $2.04. The company had a trading volume of 1,193,227 shares, compared to its average volume of 1,143,296. The firm has a 50 day simple moving average of $3.09 and a 200 day simple moving average of $10.25. Clearmind Medicine has a 52 week low of $1.74 and a 52 week high of $524.00. The firm has a market capitalization of $2.08 million, a price-to-earnings ratio of -0.01 and a beta of 0.74.

Clearmind Medicine (NASDAQ:CMND) last released its quarterly earnings data on Monday, June 15th. The company reported ($6.78) EPS for the quarter.

Insider Activity at Clearmind Medicine

In other news, major shareholder Financial Lp Hrt purchased 2,159,052 shares of the business’s stock in a transaction dated Wednesday, June 10th. The stock was bought at an average price of $0.15 per share, for a total transaction of $323,857.80. Following the purchase, the insider owned 2,063,266 shares of the company’s stock, valued at $309,489.90. The trade was a -2,254.04% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last 90 days, insiders sold 252,615 shares of company stock worth $117,933.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded shares of Clearmind Medicine from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 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.