MIRA Pharmaceuticals (NASDAQ:MIRA) Shares Down 2.6% – Time to Sell?

MIRA Pharmaceuticals, Inc. (NASDAQ:MIRA) was down 2.6% during mid-day trading on Friday . The stock traded as low as $0.75 and last traded at $0.7501. Approximately 31,846 shares were traded during mid-day trading, a decline of 67% from the average daily volume of 97,654 shares. The stock had previously closed at $0.7701.

Wall Street Analyst Weigh In

Separately, Weiss Ratings lowered shares of MIRA Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, August 20th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold”.

MIRA Pharmaceuticals Stock Performance

The firm has a market capitalization of $31.52 million, a P/E ratio of -0.60 and a beta of 1.54. The business has a 50 day simple moving average of $0.85 and a two-hundred day simple moving average of $1.00.

MIRA Pharmaceuticals (NASDAQ:MIRA) last issued its quarterly earnings results on Wednesday, August 12th. The company reported ($0.03) earnings per share (EPS) for the quarter.

Institutional Investors Weigh In On MIRA Pharmaceuticals

Several hedge funds have recently bought and sold shares of the stock. Fifth Third Bancorp purchased a new position in MIRA Pharmaceuticals in the 4th quarter worth approximately $30,000. XTX Topco Ltd bought a new stake in shares of MIRA Pharmaceuticals during the 2nd quarter worth $26,000. Creative Planning bought a new stake in shares of MIRA Pharmaceuticals during the 2nd quarter worth $27,000. Two Sigma Investments LP grew its position in MIRA Pharmaceuticals by 129.8% in the third quarter. Two Sigma Investments LP now owns 45,703 shares of the company’s stock worth $62,000 after acquiring an additional 25,816 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in MIRA Pharmaceuticals by 100.0% in the fourth quarter. Geode Capital Management LLC now owns 272,878 shares of the company’s stock worth $412,000 after acquiring an additional 136,438 shares in the last quarter. 35.16% of the stock is currently owned by institutional investors.

MIRA Pharmaceuticals Company Profile

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.