Clearmind Medicine (NASDAQ:CMND) Upgraded to Sell at Wall Street Zen

Clearmind Medicine (NASDAQ:CMND) was upgraded by Wall Street Zen to a “sell” rating in a research note issued on Saturday.

Clearmind Medicine Price Performance

Clearmind Medicine stock opened at $2.74 on Friday. The company has a market cap of $4.11 million, a price-to-earnings ratio of -0.09 and a beta of 1.18. Clearmind Medicine has a 12 month low of $2.36 and a 12 month high of $87.20. The stock’s 50-day moving average is $19.04 and its 200-day moving average is $32.46.

Institutional Investors Weigh In On Clearmind Medicine

An institutional investor recently raised its position in Clearmind Medicine stock. AdvisorShares Investments LLC grew its holdings in Clearmind Medicine Inc. (NASDAQ:CMND) by 9.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 224,378 shares of the company’s stock after acquiring an additional 18,445 shares during the period. AdvisorShares Investments LLC owned about 4.10% of Clearmind Medicine worth $230,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 96.05% of the company’s stock.

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.