Short Interest in Clearmind Medicine Inc. (NASDAQ:CMND) Drops By 80.3%

Clearmind Medicine Inc. (NASDAQ:CMND) saw a large decline in short interest in May. As of May 29th, there was short interest totaling 40,505 shares, a decline of 80.3% from the May 14th total of 205,330 shares. Approximately 4.0% of the shares of the stock are short sold. Based on an average trading volume of 5,667,197 shares, the days-to-cover ratio is presently 0.0 days.

Clearmind Medicine Stock Down 10.6%

Shares of NASDAQ CMND opened at $3.39 on Wednesday. The firm has a 50-day simple moving average of $6.65 and a 200-day simple moving average of $18.04. The stock has a market capitalization of $3.46 million, a price-to-earnings ratio of -0.02 and a beta of 0.64. Clearmind Medicine has a 52 week low of $2.10 and a 52 week high of $524.00.

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

Analysts Set New Price Targets

Separately, Wall Street Zen raised 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.