Clearmind Medicine Inc. (NASDAQ:CMND) Short Interest Up 758.6% in June

Clearmind Medicine Inc. (NASDAQ:CMND) saw a large increase in short interest in the month of June. As of June 15th, there was short interest totaling 347,793 shares, an increase of 758.6% from the May 31st total of 40,505 shares. Based on an average trading volume of 3,878,713 shares, the days-to-cover ratio is presently 0.1 days. Approximately 34.1% of the shares of the company are short sold.

Wall Street Analyst Weigh In

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

Clearmind Medicine Price Performance

Shares of Clearmind Medicine stock opened at $2.38 on Friday. The stock has a market cap of $2.43 million, a PE ratio of -0.02 and a beta of 0.64. The firm has a fifty day moving average price of $4.54 and a 200 day moving average price of $13.02. Clearmind Medicine has a 1 year low of $2.10 and a 1 year high of $524.00.

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

Insiders Place Their Bets

In other Clearmind Medicine news, major shareholder Financial Lp Hrt sold 22,139 shares of the business’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $3.31, for a total transaction of $73,280.09. Following the sale, the insider owned 81,353 shares in the company, valued at approximately $269,278.43. The trade was a 21.39% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last quarter, insiders sold 252,615 shares of company stock worth $117,933.

About Clearmind Medicine

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.