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

Shares of Clearmind Medicine Inc. (NASDAQ:CMND) dropped 12.3% during trading on Monday . The stock traded as low as $1.53 and last traded at $1.54. Approximately 565,897 shares traded hands during mid-day trading, a decline of 62% from the average daily volume of 1,472,889 shares. The stock had previously closed at $1.76.

Clearmind Medicine Price Performance

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

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

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Clearmind Medicine stock. AdvisorShares Investments LLC increased its position in Clearmind Medicine Inc. (NASDAQ:CMND) by 14.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 128,641 shares of the company’s stock after purchasing an additional 15,948 shares during the quarter. AdvisorShares Investments LLC owned approximately 7.60% of Clearmind Medicine worth $214,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 96.05% of the company’s stock.

About Clearmind Medicine

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.