Short Interest in MIRA Pharmaceuticals, Inc. (NASDAQ:MIRA) Drops By 13.9%

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

Analysts Set New Price Targets

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

Institutional Trading of MIRA Pharmaceuticals

Several large investors have recently modified their holdings of the stock. First American Bank increased its stake in shares of 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 acquiring an additional 10,000 shares in the last quarter. Fifth Third Bancorp bought a new position in MIRA Pharmaceuticals during the fourth quarter worth $30,000. XTX Topco Ltd acquired a new stake in MIRA Pharmaceuticals in the second quarter worth $26,000. Creative Planning acquired a new stake in MIRA Pharmaceuticals in the second quarter worth $27,000. Finally, Two Sigma Investments LP increased its stake in 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. Institutional investors and hedge funds own 35.16% of the company’s stock.

MIRA Pharmaceuticals Price Performance

Shares of MIRA Pharmaceuticals stock traded up $0.00 on Tuesday, hitting $1.21. 34,127 shares of the company’s stock traded hands, compared to its average volume of 140,697. The company has a fifty day moving average of $1.29 and a two-hundred day moving average of $1.39. MIRA Pharmaceuticals has a one year low of $0.73 and a one year high of $2.45. The company has a market capitalization of $50.80 million, a price-to-earnings ratio of -0.79 and a beta of 1.78.

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.