Clearmind Medicine Inc. (NASDAQ:CMND) Short Interest Down 26.5% in March

Clearmind Medicine Inc. (NASDAQ:CMND) was the recipient of a large decline in short interest during the month of March. As of March 31st, there was short interest totaling 47,081 shares, a decline of 26.5% from the March 15th total of 64,024 shares. Based on an average daily trading volume, of 202,191 shares, the short-interest ratio is presently 0.2 days. Approximately 3.1% of the company’s stock are short sold.

Institutional Trading of Clearmind Medicine

An institutional investor recently raised its position in Clearmind Medicine stock. AdvisorShares Investments LLC boosted its stake in shares of Clearmind Medicine Inc. (NASDAQ:CMND) by 9.0% during the 3rd 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 purchasing 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 reporting period. 96.05% of the stock is owned by institutional investors.

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 Stock Down 28.6%

Shares of Clearmind Medicine stock traded down $0.26 during trading on Wednesday, reaching $0.65. The company’s stock had a trading volume of 2,137,722 shares, compared to its average volume of 573,035. The company has a 50-day simple moving average of $1.07 and a two-hundred day simple moving average of $10.40. Clearmind Medicine has a 1-year low of $0.59 and a 1-year high of $52.40. The company has a market cap of $975,000.00, a price-to-earnings ratio of -0.03 and a beta of 1.32.

Clearmind Medicine (NASDAQ:CMND) last released its quarterly earnings results on Thursday, March 12th. The company reported ($3.32) EPS for the quarter.

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.