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

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

Clearmind Medicine Stock Down 1.7%

Shares of Clearmind Medicine stock opened at $1.13 on Friday. The business has a 50-day moving average price of $1.96 and a 200 day moving average price of $19.78. Clearmind Medicine has a fifty-two week low of $1.05 and a fifty-two week high of $52.40. The firm has a market cap of $1.70 million, a P/E ratio of -0.04 and a beta of 1.35.

Clearmind Medicine (NASDAQ:CMND) last released its earnings results on Tuesday, January 20th. The company reported ($4.75) EPS for the quarter.

Hedge Funds Weigh In On Clearmind Medicine

An institutional investor recently raised its position in Clearmind Medicine stock. AdvisorShares Investments LLC grew its holdings in shares of Clearmind Medicine Inc. (NASDAQ:CMND) by 9.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 224,378 shares of the company’s stock after buying an additional 18,445 shares during the period. AdvisorShares Investments LLC owned 4.10% of Clearmind Medicine worth $230,000 as of its most recent filing with the Securities and Exchange Commission. 96.05% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

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.