MIRA Pharmaceuticals, Inc. (NASDAQ:MIRA) Sees Significant Increase in Short Interest

MIRA Pharmaceuticals, Inc. (NASDAQ:MIRA) was the target of a significant increase in short interest in December. As of December 31st, there was short interest totaling 389,366 shares, an increase of 107.4% from the December 15th total of 187,740 shares. Approximately 1.0% of the shares of the stock are short sold. Based on an average trading volume of 295,237 shares, the days-to-cover ratio is presently 1.3 days. Based on an average trading volume of 295,237 shares, the days-to-cover ratio is presently 1.3 days. Approximately 1.0% of the shares of the stock are short sold.

MIRA Pharmaceuticals Stock Performance

Shares of MIRA Pharmaceuticals stock remained flat at $1.46 during mid-day trading on Friday. 69,359 shares of the stock traded hands, compared to its average volume of 125,760. The firm’s 50-day simple moving average is $1.47 and its 200-day simple moving average is $1.46. The company has a market cap of $61.14 million, a price-to-earnings ratio of -0.95 and a beta of 1.79. MIRA Pharmaceuticals has a twelve month low of $0.73 and a twelve month high of $2.45.

MIRA Pharmaceuticals (NASDAQ:MIRA) last released its quarterly earnings data on Thursday, November 13th. The company reported ($1.18) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($1.07). On average, equities research analysts anticipate that MIRA Pharmaceuticals will post -0.6 earnings per share for the current year.

Institutional Trading of MIRA Pharmaceuticals

Hedge funds and other institutional investors have recently modified their holdings of the business. XTX Topco Ltd purchased a new stake in MIRA Pharmaceuticals in the 2nd quarter valued at about $26,000. Creative Planning acquired a new position in MIRA Pharmaceuticals during the second quarter worth $27,000. International Assets Investment Management LLC purchased a new position in shares of MIRA Pharmaceuticals during the second quarter worth $42,000. Two Sigma Investments LP grew its stake in shares of MIRA Pharmaceuticals by 129.8% in the third quarter. Two Sigma Investments LP now owns 45,703 shares of the company’s stock valued at $62,000 after buying an additional 25,816 shares in the last quarter. Finally, First American Bank raised its holdings in shares of MIRA Pharmaceuticals by 150.0% in the 3rd quarter. First American Bank now owns 50,000 shares of the company’s stock valued at $68,000 after buying an additional 30,000 shares during the period. 35.16% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Weiss Ratings restated a “sell (e+)” rating on shares of MIRA Pharmaceuticals in a report on Monday, December 29th. Wall Street Zen downgraded shares of MIRA Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, November 22nd. Finally, Rodman & Renshaw assumed coverage on shares of MIRA Pharmaceuticals in a research report on Tuesday. They set a “buy” rating on the stock. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, MIRA Pharmaceuticals presently has an average rating of “Hold”.

About MIRA Pharmaceuticals

MIRA Pharmaceuticals, Inc operates as a pre-clinical-stage pharmaceutical development company with two neuroscience programs targeting a range of neurologic and neuropsychiatric disorders. The company holds exclusive U.S., Canadian, and Mexican rights for Ketamir-2, a patent pending oral ketamine analog under investigation to deliver ultra-rapid antidepressant effects for individuals battling treatment-resistant depression, major depressive disorder with suicidal ideation, and post-traumatic stress disorder.