Clearmind Medicine Shares Set to Reverse Split on Monday, October 5th (NASDAQ:CMND)

Shares of Clearmind Medicine Inc. (NASDAQ:CMND) are going to reverse split on the morning of Monday, October 5th. The 1-8 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Sunday, October 4th.

Clearmind Medicine Trading Down 11.1%

CMND traded down $0.09 during midday trading on Thursday, hitting $0.72. 219,393 shares of the company were exchanged, compared to its average volume of 965,167. The firm has a market capitalization of $730,116.00, a P/E ratio of -0.02 and a beta of 0.81. The firm’s 50 day moving average price is $1.41 and its 200-day moving average price is $3.93. The company has a quick ratio of 4.31, a current ratio of 4.31 and a debt-to-equity ratio of 0.01. Clearmind Medicine has a 1-year low of $0.71 and a 1-year high of $480.00.

Clearmind Medicine (NASDAQ:CMND) last posted its quarterly earnings data on Thursday, September 10th. The company reported ($0.57) EPS for the quarter.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded Clearmind Medicine from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 20th.

Clearmind Medicine Company Profile

Clearmind Medicine Inc is a biotechnology company focused on developing psychedelic-derived therapeutics for behavioral and mental health disorders. Its research programs are designed to address conditions with significant unmet medical needs, including alcohol use disorder and binge-related behaviors.

The company’s pipeline includes investigational compounds based on novel psychedelic molecules, including 5-methoxy-2-aminoindane (MEAI). Clearmind is studying these compounds for their potential to reduce harmful consumption patterns and support improved mental health outcomes.