MIRA Pharmaceuticals, Inc. (NASDAQ:MIRA) Sees Large Increase in Short Interest

MIRA Pharmaceuticals, Inc. (NASDAQ:MIRA) saw a large increase in short interest in the month of September. As of September 15th, there was short interest totaling 447,832 shares, an increase of 118.1% from the August 31st total of 205,296 shares. Approximately 1.3% of the company’s shares are short sold. Based on an average daily volume of 3,132,856 shares, the days-to-cover ratio is currently 0.1 days.

Institutional Trading of MIRA Pharmaceuticals

An institutional investor recently bought a new position in MIRA Pharmaceuticals stock. BlackRock Inc. purchased a new stake in MIRA Pharmaceuticals, Inc. (NASDAQ:MIRA) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 244,622 shares of the company’s stock, valued at approximately $232,000. BlackRock Inc. owned 0.58% of MIRA Pharmaceuticals as of its most recent SEC filing. 35.16% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Maxim Group started coverage on MIRA Pharmaceuticals in a research note on Thursday, September 17th. They set a “buy” rating and a $3.50 price objective for the company. Weiss Ratings lowered MIRA Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, August 20th. Two research analysts have 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, the stock currently has a consensus rating of “Hold” and a consensus target price of $3.50.

MIRA Pharmaceuticals Stock Down 3.5%

Shares of NASDAQ MIRA opened at $0.87 on Wednesday. The company’s fifty day moving average is $0.79 and its 200-day moving average is $0.93. The stock has a market cap of $36.62 million, a price-to-earnings ratio of -0.70 and a beta of 1.52. MIRA Pharmaceuticals has a twelve month low of $0.60 and a twelve month high of $2.45.

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

MIRA Pharmaceuticals Company Profile

MIRA Pharmaceuticals, Inc is a clinical-stage pharmaceutical company focused on developing novel treatments for neurological and neuropsychiatric disorders. The company’s research is directed toward therapies for conditions with significant unmet medical needs, including anxiety, depression and chronic pain.

MIRA’s lead product candidate, MIRA-55, is an oral ketamine analog being developed for potential use in anxiety, depression and neuropathic pain. The company is evaluating the compound’s therapeutic potential and safety as it advances its development program.

MIRA Pharmaceuticals is headquartered in the United States and is led by Chief Executive Officer Erez Aminov.