Clearmind Medicine (NASDAQ:CMND) Stock Price Down 2.8% – Should You Sell?

Clearmind Medicine Inc. (NASDAQ:CMND)’s share price dropped 2.8% on Tuesday . The stock traded as low as $1.37 and last traded at $1.37. Approximately 27,764 shares traded hands during mid-day trading, a decline of 83% from the average daily volume of 163,954 shares. The stock had previously closed at $1.41.

Clearmind Medicine Trading Down 2.8 %

The stock has a market cap of $5.84 million, a P/E ratio of -0.73 and a beta of 1.04. The firm’s fifty day moving average price is $1.43 and its two-hundred day moving average price is $1.37. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.72 and a quick ratio of 1.72.

Clearmind Medicine (NASDAQ:CMND) last released its quarterly earnings results on Wednesday, January 22nd. The company reported ($0.11) earnings per share for the quarter.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Clearmind Medicine stock. Citadel Advisors LLC boosted its position in Clearmind Medicine Inc. (NASDAQ:CMND) by 115.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 38,158 shares of the company’s stock after acquiring an additional 20,429 shares during the quarter. Citadel Advisors LLC owned 0.89% of Clearmind Medicine worth $53,000 as of its most recent filing with the Securities & Exchange Commission. Institutional investors and hedge funds own 96.05% of the company’s stock.

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.