MIRA Pharmaceuticals (NASDAQ:MIRA) Stock Price Up 3.3% – Time to Buy?

MIRA Pharmaceuticals, Inc. (NASDAQ:MIRA) shares were up 3.3% during trading on Wednesday . The company traded as high as $0.9799 and last traded at $0.9401. Approximately 47,243 shares traded hands during trading, a decline of 22% from the average daily volume of 60,912 shares. The stock had previously closed at $0.9101.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of MIRA Pharmaceuticals in a report on Wednesday, June 24th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold”.

MIRA Pharmaceuticals Trading Up 2.6%

The firm has a market capitalization of $40.26 million, a price-to-earnings ratio of -0.74 and a beta of 1.48. The stock’s 50 day moving average price is $0.97 and its two-hundred day moving average price is $1.13.

MIRA Pharmaceuticals (NASDAQ:MIRA) last announced its quarterly earnings results on Thursday, May 14th. The company reported ($0.03) EPS for the quarter.

Institutional Investors Weigh In On MIRA Pharmaceuticals

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC boosted its stake in shares of MIRA Pharmaceuticals by 100.0% during the 4th quarter. Geode Capital Management LLC now owns 272,878 shares of the company’s stock worth $412,000 after purchasing an additional 136,438 shares during the last quarter. Fifth Third Bancorp purchased a new position in shares of MIRA Pharmaceuticals in the 4th quarter worth $30,000. First American Bank raised its holdings 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 worth $91,000 after purchasing an additional 10,000 shares during the period. Two Sigma Investments LP lifted its position in MIRA Pharmaceuticals by 129.8% during 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, XTX Topco Ltd acquired a new stake in shares of MIRA Pharmaceuticals in the 2nd quarter valued at about $26,000. Hedge funds and other institutional investors 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.