Clearmind Medicine Inc. (NASDAQ:CMND) Sees Significant Drop in Short Interest

Clearmind Medicine Inc. (NASDAQ:CMND) saw a significant decrease in short interest during the month of July. As of July 31st, there was short interest totaling 47,941 shares, a decrease of 45.6% from the July 15th total of 88,087 shares. Approximately 4.7% of the shares of the stock are sold short. Based on an average daily volume of 242,713 shares, the short-interest ratio is currently 0.2 days.

Clearmind Medicine Stock Performance

CMND traded up $0.03 during trading on Tuesday, reaching $1.92. 725,465 shares of the company’s stock were exchanged, compared to its average volume of 1,000,053. The company’s fifty day moving average price is $2.19 and its 200-day moving average price is $6.67. The firm has a market capitalization of $1.95 million, a PE ratio of -0.01 and a beta of 0.75. Clearmind Medicine has a fifty-two week low of $1.43 and a fifty-two week high of $524.00.

Clearmind Medicine (NASDAQ:CMND) last posted its quarterly earnings results on Monday, June 15th. The company reported ($6.78) earnings per share (EPS) for the quarter.

Insider Activity at Clearmind Medicine

In other news, major shareholder Financial Lp Hrt sold 22,139 shares of the firm’s stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $3.31, for a total value of $73,280.09. Following the completion of the sale, the insider directly owned 81,353 shares in the company, valued at approximately $269,278.43. This trade represents a 21.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders sold a total of 252,615 shares of company stock worth $117,933 in the last quarter.

Analyst Ratings Changes

Separately, Wall Street Zen raised shares of Clearmind Medicine from a “strong sell” rating to a “sell” rating in a report on Saturday, June 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.