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

Clearmind Medicine Inc. (NASDAQ:CMND) saw a significant drop in short interest in June. As of June 30th, there was short interest totaling 203,361 shares, a drop of 41.5% from the June 15th total of 347,793 shares. Based on an average daily volume of 824,480 shares, the days-to-cover ratio is currently 0.2 days. Approximately 20.0% of the company’s stock are short sold.

Clearmind Medicine Stock Up 12.1%

CMND stock traded up $0.22 during midday trading on Thursday, hitting $2.04. The company’s stock had a trading volume of 1,193,227 shares, compared to its average volume of 1,143,296. The stock has a market cap of $2.08 million, a price-to-earnings ratio of -0.01 and a beta of 0.74. The stock’s 50-day moving average price is $3.09 and its 200 day moving average price is $10.25. Clearmind Medicine has a 1 year low of $1.74 and a 1 year high of $524.00.

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

Insider Activity

In related news, major shareholder Financial Lp Hrt purchased 2,159,052 shares of the firm’s stock in a transaction that occurred on Wednesday, June 10th. The stock was acquired at an average price of $0.15 per share, for a total transaction of $323,857.80. Following the completion of the acquisition, the insider owned 2,063,266 shares of the company’s stock, valued at $309,489.90. This represents a -2,254.04% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 252,615 shares of company stock worth $117,933 over the last 90 days.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded 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.