Clearmind Medicine Inc (NASDAQ: CMND)’s stock price has gone rise by 7.14 in comparison to its previous close of 1.40, however, the company has experienced a 10.29% increase in its stock price over the last five trading days. globenewswire.com reported 2024-10-10 that FDA approval for the IND submission to conduct its trial already secured Vancouver, Canada, Oct. 10, 2024 (GLOBE NEWSWIRE) — Clearmind Medicine Inc. (Nasdaq: CMND), (FSE: CWY0) (“Clearmind” or the “Company”), a clinical-stage biotech company focused on discovery and development of novel psychedelic-derived therapeutics to solve major under-treated health problems, today announced it has received Institutional Review Board (IRB) approval from one of its clinical sites in the U.S. for part A of its Phase I/IIa clinical trial in the United States for treating patients suffering from alcohol use disorder (AUD). The multinational, multi-center trial will assess the safety, tolerability, and pharmacokinetics of Clearmind’s innovative MEAI-based (5-methoxy-2-aminoindane) treatment, CMND-100.
Is It Worth Investing in Clearmind Medicine Inc (NASDAQ: CMND) Right Now?
CMND has 36-month beta value of -1.46.
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The public float for CMND is 3.01M, and currently, short sellers hold a 7.22% ratio of that float. The average trading volume of CMND on November 08, 2024 was 371.14K shares.
CMND’s Market Performance
The stock of Clearmind Medicine Inc (CMND) has seen a 10.29% increase in the past week, with a 10.29% rise in the past month, and a 32.74% gain in the past quarter. The volatility ratio for the week is 5.64%, and the volatility levels for the past 30 days are at 11.25% for CMND. The simple moving average for the past 20 days is 3.04% for CMND’s stock, with a 10.34% simple moving average for the past 200 days.
CMND Trading at 10.79% from the 50-Day Moving Average
After a stumble in the market that brought CMND to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -77.94% of loss for the given period.
Volatility was left at 11.25%, however, over the last 30 days, the volatility rate increased by 5.64%, as shares surge +8.09% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +11.36% upper at present.
During the last 5 trading sessions, CMND rose by +8.09%, which changed the moving average for the period of 200-days by -0.68% in comparison to the 20-day moving average, which settled at $1.4542. In addition, Clearmind Medicine Inc saw -46.62% in overturn over a single year, with a tendency to cut further losses.
Stock Fundamentals for CMND
The total capital return value is set at -1.03. Equity return is now at value -267.90, with -133.31 for asset returns.
Based on Clearmind Medicine Inc (CMND), the company’s capital structure generated 0.02 points at debt to capital in total, while cash flow to debt ratio is standing at -71.08.
Currently, EBITDA for the company is -8.71 million with net debt to EBITDA at 2.15. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.71.
Conclusion
To put it simply, Clearmind Medicine Inc (CMND) has had a mixed performance in recent times. Analysts have a mixed opinion on the stock, with some rating it as a “buy” and others as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
