Clearmind Medicine (NASDAQ:CMND) Stock Price Down 12.3% – Here’s What Happened

Clearmind Medicine Inc. (NASDAQ:CMND)’s share price traded down 12.3% during mid-day trading on Monday . The company traded as low as $1.53 and last traded at $1.54. 565,897 shares were traded during trading, a decline of 62% from the average session volume of 1,472,889 shares. The stock had previously closed at $1.76.

Clearmind Medicine Stock Performance

The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.71 and a current ratio of 1.71. The company’s 50 day moving average is $1.31 and its 200-day moving average is $1.33.

Clearmind Medicine (NASDAQ:CMND) last issued its quarterly earnings data on Monday, September 16th. The company reported ($0.59) EPS for the quarter.

Institutional Investors Weigh In On Clearmind Medicine

A hedge fund recently raised its stake in Clearmind Medicine stock. AdvisorShares Investments LLC grew its stake in shares of Clearmind Medicine Inc. (NASDAQ:CMND) by 14.2% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 128,641 shares of the company’s stock after acquiring an additional 15,948 shares during the period. AdvisorShares Investments LLC owned about 7.60% of Clearmind Medicine worth $214,000 at the end of the most recent reporting period. 96.05% of the stock is currently owned by institutional investors.

Clearmind Medicine Company Profile

Clearmind Medicine Inc, a clinical pharmaceutical company, develops novel psychedelic medicines to treat under-served health problems in Canada and internationally. It develops treatments for alcohol use disorders, mental health disorder, binge drinking, obesity and metabolic disorder, and eating disorders, as well as depression, binge eating, psychotherapy, and other addiction and binge behaviors.