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

Clearmind Medicine Inc. (NASDAQ:CMND) saw a large decrease in short interest during the month of September. As of September 30th, there was short interest totaling 14,819 shares, a decrease of 58.5% from the September 15th total of 35,733 shares. Based on an average daily volume of 259,644 shares, the short-interest ratio is presently 0.1 days. Currently, 11.4% of the company’s stock are short sold.

Clearmind Medicine Price Performance

NASDAQ:CMND remained flat at $6.23 during trading hours on Wednesday. 7,479 shares of the company were exchanged, compared to its average volume of 117,022. The company has a market cap of $3.18 million, a P/E ratio of -0.15 and a beta of 0.93. Clearmind Medicine has a 12-month low of $5.25 and a 12-month high of $3,840.00. The business has a 50 day moving average of $10.08 and a 200-day moving average of $28.26. 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 earnings results on Thursday, September 10th. The company reported ($4.56) earnings per share for the quarter.

Wall Street Analyst Weigh In

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

About Clearmind Medicine

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.