MIRA Pharmaceuticals (NASDAQ:MIRA) Shares Down 6.6% – What’s Next?

Shares of MIRA Pharmaceuticals, Inc. (NASDAQ:MIRA) were down 6.6% during mid-day trading on Thursday . The company traded as low as $1.13 and last traded at $1.13. Approximately 266,841 shares were traded during mid-day trading, an increase of 66% from the average daily volume of 161,050 shares. The stock had previously closed at $1.21.

Analysts Set New Price Targets

MIRA has been the topic of a number of analyst reports. Rodman & Renshaw started coverage on shares of MIRA Pharmaceuticals in a report on Tuesday, January 13th. They issued a “buy” rating on the stock. Weiss Ratings restated a “sell (e+)” rating on shares of MIRA Pharmaceuticals in a research note on Monday, December 29th. Finally, Wall Street Zen downgraded MIRA Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, November 22nd. One research 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 currently has a consensus rating of “Hold”.

MIRA Pharmaceuticals Price Performance

The firm has a market capitalization of $47.32 million, a P/E ratio of -0.74 and a beta of 1.80. The firm’s fifty day moving average price is $1.44 and its 200-day moving average price is $1.45.

MIRA Pharmaceuticals (NASDAQ:MIRA) last announced its quarterly earnings data on Thursday, November 13th. The company reported ($1.18) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($1.07). Analysts expect that MIRA Pharmaceuticals, Inc. will post -0.6 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Fifth Third Bancorp acquired a new stake in shares of MIRA Pharmaceuticals during the 4th quarter valued at $30,000. First American Bank boosted its position in shares of MIRA Pharmaceuticals by 20.0% in the 4th quarter. First American Bank now owns 60,000 shares of the company’s stock valued at $91,000 after purchasing an additional 10,000 shares during the period. Two Sigma Investments LP increased its stake in MIRA Pharmaceuticals by 129.8% in the 3rd quarter. Two Sigma Investments LP now owns 45,703 shares of the company’s stock worth $62,000 after purchasing an additional 25,816 shares in the last quarter. XTX Topco Ltd acquired a new stake in MIRA Pharmaceuticals during the 2nd quarter worth about $26,000. Finally, Creative Planning acquired a new stake in MIRA Pharmaceuticals during the 2nd quarter worth about $27,000. Institutional investors and hedge funds own 35.16% of the company’s stock.

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.