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

Clearmind Medicine Inc. (NASDAQ:CMND) was the recipient of a large decline in short interest in the month of October. As of October 15th, there was short interest totaling 3,861 shares, a decline of 73.9% from the September 30th total of 14,819 shares. Approximately 0.8% of the company’s shares are sold short. Based on an average daily volume of 35,857 shares, the days-to-cover ratio is currently 0.1 days.

Clearmind Medicine Trading Up 0.5%

NASDAQ:CMND traded up $0.03 during midday trading on Wednesday, hitting $6.00. 5,023 shares of the company traded hands, compared to its average volume of 111,727. The firm has a market capitalization of $3.04 million, a P/E ratio of -0.02 and a beta of 0.93. The firm’s fifty day moving average is $8.62 and its 200-day moving average is $52.02. Clearmind Medicine has a 12-month low of $5.25 and a 12-month high of $3,840.00. The company has a current ratio of 4.31, a quick ratio of 4.31 and a debt-to-equity ratio of 0.01.

Clearmind Medicine (NASDAQ:CMND) last posted its quarterly earnings data on Thursday, September 10th. The company reported ($4.56) EPS for the quarter.

Clearmind Medicine Company Profile

Clearmind Medicine Inc (NASDAQ: CMND) is a clinical-stage biotechnology company developing psychedelic-derived therapeutics for underserved health conditions. The company’s research focuses on creating proprietary compounds designed to address disorders involving addictive and compulsive behaviors.

Clearmind’s lead research program centers on MEAI, a proprietary psychedelic molecule being evaluated for potential use in alcohol use disorder and binge-related behaviors. The company has also investigated additional applications for its compounds, including treatments for obesity and other conditions associated with abnormal consumption patterns.

Clearmind advances its programs through preclinical research, intellectual-property development and clinical testing, with the goal of establishing new pharmaceutical treatments rather than providing psychedelic services directly.