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

Clearmind Medicine Inc. (NASDAQ:CMND) saw a significant decline in short interest in May. As of May 15th, there was short interest totaling 205,330 shares, a decline of 53.0% from the April 30th total of 437,078 shares. Approximately 20.1% of the company’s stock are short sold. Based on an average trading volume of 494,011 shares, the short-interest ratio is presently 0.4 days.

Hedge Funds Weigh In On Clearmind Medicine

An institutional investor recently raised its position in Clearmind Medicine stock. AdvisorShares Investments LLC grew its stake 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 (SEC). The fund owned 224,378 shares of the company’s stock after acquiring an additional 18,445 shares during the quarter. AdvisorShares Investments LLC owned 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 Price Performance

Shares of CMND traded up $1.13 on Friday, hitting $3.58. The company’s stock had a trading volume of 44,764,183 shares, compared to its average volume of 443,681. Clearmind Medicine has a fifty-two week low of $2.10 and a fifty-two week high of $524.00. The company has a market capitalization of $3.65 million, a PE ratio of -0.02 and a beta of 0.87. The company has a 50 day moving average price of $7.17 and a 200 day moving average price of $25.52.

Clearmind Medicine (NASDAQ:CMND) last issued its quarterly earnings results on Thursday, March 12th. The company reported ($33.20) EPS for the quarter.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded shares of Clearmind Medicine to a “sell” rating in a report on Saturday, May 23rd.

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.