MIRA Pharmaceuticals (NASDAQ:MIRA) Shares Up 3.1% – Time to Buy?

MIRA Pharmaceuticals, Inc. (NASDAQ:MIRA) rose 3.1% on Thursday . The stock traded as high as $0.6980 and last traded at $0.6782. 71,420 shares changed hands during trading, a decline of 26% from the average daily volume of 96,692 shares. The stock had previously closed at $0.6577.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded MIRA Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, MIRA Pharmaceuticals has a consensus rating of “Hold”.

MIRA Pharmaceuticals Stock Up 9.1%

The business has a 50-day moving average price of $0.91 and a two-hundred day moving average price of $1.05. The company has a market capitalization of $31.09 million, a price-to-earnings ratio of -0.57 and a beta of 1.54.

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 made changes to their positions in the business. Geode Capital Management LLC boosted its stake in MIRA Pharmaceuticals by 100.0% during the 4th quarter. Geode Capital Management LLC now owns 272,878 shares of the company’s stock valued at $412,000 after purchasing an additional 136,438 shares during the last quarter. BlackRock Inc. purchased a new stake in shares of MIRA Pharmaceuticals in the second quarter worth approximately $232,000. Two Sigma Investments LP lifted its holdings in shares of MIRA Pharmaceuticals by 129.8% in the third 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 in the last quarter. Creative Planning bought a new position in shares of MIRA Pharmaceuticals in the second quarter valued at approximately $27,000. Finally, XTX Topco Ltd purchased a new position in shares of MIRA Pharmaceuticals during the second quarter valued at approximately $26,000. Institutional investors and hedge funds own 35.16% of the company’s stock.

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.