MIRA Pharmaceuticals, Inc. (NASDAQ:MIRA) Sees Significant Decline in Short Interest

MIRA Pharmaceuticals, Inc. (NASDAQ:MIRA) saw a significant decline in short interest in February. As of February 27th, there was short interest totaling 489,206 shares, a decline of 13.9% from the February 12th total of 568,283 shares. Currently, 1.3% of the company’s stock are short sold. Based on an average daily volume of 98,615 shares, the days-to-cover ratio is currently 5.0 days. Based on an average daily volume of 98,615 shares, the days-to-cover ratio is currently 5.0 days. Currently, 1.3% of the company’s stock are short sold.

MIRA Pharmaceuticals Stock Down 5.1%

Shares of MIRA stock opened at $1.11 on Thursday. The business has a 50 day moving average of $1.28 and a two-hundred day moving average of $1.39. MIRA Pharmaceuticals has a 52 week low of $0.73 and a 52 week high of $2.45. The company has a market cap of $46.49 million, a P/E ratio of -0.73 and a beta of 1.78.

Wall Street Analysts Forecast Growth

MIRA has been the topic of several recent analyst reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of MIRA Pharmaceuticals in a research note on Monday, December 29th. Wall Street Zen downgraded MIRA Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Saturday, November 22nd. Finally, Rodman & Renshaw assumed coverage on MIRA Pharmaceuticals in a research report on Tuesday, January 13th. They issued a “buy” rating on the stock. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold”.

Institutional Trading of MIRA Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC raised 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. First American Bank boosted its position in shares of MIRA Pharmaceuticals by 150.0% during the 3rd quarter. First American Bank now owns 50,000 shares of the company’s stock valued at $68,000 after purchasing an additional 30,000 shares in the last quarter. Two Sigma Investments LP grew its stake in shares of MIRA Pharmaceuticals by 129.8% in the 3rd quarter. Two Sigma Investments LP now owns 45,703 shares of the company’s stock worth $62,000 after purchasing an additional 25,816 shares during the last quarter. Creative Planning acquired a new position in shares of MIRA Pharmaceuticals in the 2nd quarter worth approximately $27,000. Finally, XTX Topco Ltd bought a new stake in shares of MIRA Pharmaceuticals in the 2nd quarter worth approximately $26,000. 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.