MIRA Pharmaceuticals (NASDAQ:MIRA) Shares Down 1.3% – What’s Next?

MIRA Pharmaceuticals, Inc. (NASDAQ:MIRA) was down 1.3% during mid-day trading on Friday . The stock traded as low as $0.9810 and last traded at $0.9870. Approximately 76,948 shares were traded during trading, a decline of 48% from the average daily volume of 147,977 shares. The stock had previously closed at $1.00.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on MIRA shares. Weiss Ratings restated a “sell (e+)” rating on shares of MIRA Pharmaceuticals in a research note on Friday, March 27th. Rodman & Renshaw started coverage on MIRA Pharmaceuticals in a research note on Tuesday, January 13th. They set a “buy” rating on the stock. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold”.

MIRA Pharmaceuticals Stock Performance

The business has a 50 day simple moving average of $1.10 and a 200-day simple moving average of $1.31. The stock has a market capitalization of $41.47 million, a P/E ratio of -0.65 and a beta of 1.48.

Hedge Funds Weigh In On MIRA Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its stake in MIRA Pharmaceuticals by 100.0% during the 4th quarter. Geode Capital Management LLC now owns 272,878 shares of the company’s stock valued at $412,000 after purchasing an additional 136,438 shares in the last quarter. Two Sigma Investments LP boosted its stake in MIRA Pharmaceuticals by 129.8% during the 3rd quarter. Two Sigma Investments LP now owns 45,703 shares of the company’s stock valued at $62,000 after purchasing an additional 25,816 shares in the last quarter. XTX Topco Ltd bought a new position in MIRA Pharmaceuticals during the 2nd quarter valued at $26,000. Creative Planning bought a new position in MIRA Pharmaceuticals during the 2nd quarter valued at $27,000. Finally, Fifth Third Bancorp bought a new position in MIRA Pharmaceuticals during the 4th quarter valued at $30,000. 35.16% of the stock is owned by institutional investors.

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.