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

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

Analysts Set New Price Targets

A number of research firms recently commented on MIRA. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of MIRA Pharmaceuticals in a report on Monday, December 29th. Rodman & Renshaw initiated coverage on shares of MIRA Pharmaceuticals in a research note on Tuesday, January 13th. They set a “buy” rating for the company. Finally, Wall Street Zen lowered shares of MIRA Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, November 22nd. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold”.

MIRA Pharmaceuticals Stock Up 6.2%

The firm has a market capitalization of $50.26 million, a PE ratio of -0.78 and a beta of 1.80. The stock has a 50-day moving average price of $1.44 and a 200 day moving average price of $1.45.

MIRA Pharmaceuticals (NASDAQ:MIRA) last announced its earnings results on Thursday, November 13th. The company reported ($1.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($1.07). As a group, equities analysts predict that MIRA Pharmaceuticals, Inc. will post -0.6 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MIRA Pharmaceuticals

Several institutional investors have recently bought and sold shares of MIRA. International Assets Investment Management LLC purchased a new position in shares of MIRA Pharmaceuticals in the second quarter valued at approximately $42,000. Two Sigma Investments LP raised its stake 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 last quarter. Fifth Third Bancorp purchased a new position in MIRA Pharmaceuticals in the 4th quarter valued at $30,000. First American Bank lifted its holdings in MIRA Pharmaceuticals by 20.0% in the 4th quarter. First American Bank now owns 60,000 shares of the company’s stock valued at $91,000 after purchasing an additional 10,000 shares in the last quarter. Finally, XTX Topco Ltd acquired a new stake in MIRA Pharmaceuticals during the 2nd quarter worth $26,000. 35.16% of the stock is currently owned by institutional investors and hedge funds.

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.