MIRA Pharmaceuticals (NASDAQ:MIRA) Trading Down 6.6% – Time to Sell?

MIRA Pharmaceuticals, Inc. (NASDAQ:MIRA)’s stock price fell 6.6% during mid-day trading on Thursday . The stock traded as low as $1.13 and last traded at $1.13. 266,841 shares changed hands during trading, an increase of 66% from the average session volume of 161,050 shares. The stock had previously closed at $1.21.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on MIRA shares. Wall Street Zen downgraded shares of MIRA Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, November 22nd. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of MIRA Pharmaceuticals in a report on Monday, December 29th. Finally, Rodman & Renshaw started coverage on MIRA Pharmaceuticals in a report on Tuesday, January 13th. They set a “buy” rating on the stock. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, MIRA Pharmaceuticals currently has an average rating of “Hold”.

MIRA Pharmaceuticals Trading Down 6.6%

The company has a market cap of $47.32 million, a PE ratio of -0.74 and a beta of 1.80. The firm has a fifty day moving average of $1.44 and a two-hundred day moving average of $1.45.

MIRA Pharmaceuticals (NASDAQ:MIRA) last posted its earnings results 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). Sell-side analysts expect that MIRA Pharmaceuticals, Inc. will post -0.6 EPS for the current fiscal year.

Institutional Trading of MIRA Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the stock. First American Bank boosted its stake in 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 boosted its holdings in MIRA Pharmaceuticals by 129.8% in 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 during the period. International Assets Investment Management LLC purchased a new position in shares of MIRA Pharmaceuticals during the 2nd quarter valued at $42,000. Creative Planning bought a new position in shares of MIRA Pharmaceuticals in the second quarter worth $27,000. Finally, XTX Topco Ltd purchased a new stake in shares of MIRA Pharmaceuticals in the second quarter worth $26,000. 35.16% of the stock is currently 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.