Clearmind Medicine Inc. (NASDAQ:CMND) Short Interest Update

Clearmind Medicine Inc. (NASDAQ:CMND) was the target of a large decline in short interest during the month of December. As of December 15th, there was short interest totaling 27,537 shares, a decline of 90.2% from the November 30th total of 280,860 shares. Based on an average trading volume of 575,894 shares, the days-to-cover ratio is presently 0.0 days. Currently, 1.8% of the shares of the stock are short sold. Currently, 1.8% of the shares of the stock are short sold. Based on an average trading volume of 575,894 shares, the days-to-cover ratio is presently 0.0 days.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Clearmind Medicine stock. AdvisorShares Investments LLC grew its position in Clearmind Medicine Inc. (NASDAQ:CMND) by 9.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 224,378 shares of the company’s stock after acquiring an additional 18,445 shares during the quarter. AdvisorShares Investments LLC owned about 4.10% of Clearmind Medicine worth $230,000 at the end of the most recent reporting period. 96.05% of the stock is owned by hedge funds and other institutional investors.

Clearmind Medicine Stock Performance

CMND stock traded down $0.10 during midday trading on Wednesday, reaching $2.33. 75,648 shares of the company traded hands, compared to its average volume of 106,012. The firm has a market capitalization of $3.50 million, a price-to-earnings ratio of -0.08 and a beta of 1.18. Clearmind Medicine has a 52-week low of $2.23 and a 52-week high of $70.00. The business has a 50 day moving average of $17.62 and a 200-day moving average of $31.90.

Analysts Set New Price Targets

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

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.