MIRA Pharmaceuticals (NASDAQ:MIRA) Trading 3.1% Higher – What’s Next?

MIRA Pharmaceuticals, Inc. (NASDAQ:MIRA) shares traded up 3.1% on Thursday . The stock traded as high as $0.6980 and last traded at $0.6782. Approximately 71,420 shares were traded during mid-day trading, a decline of 26% from the average session volume of 96,692 shares. The stock had previously closed at $0.6577.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of MIRA Pharmaceuticals in a report on Wednesday, June 24th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, MIRA Pharmaceuticals has a consensus rating of “Hold”.

MIRA Pharmaceuticals Price Performance

The company has a 50-day simple moving average of $0.92 and a two-hundred day simple moving average of $1.06. The stock has a market capitalization of $28.50 million, a price-to-earnings ratio of -0.52 and a beta of 1.54.

MIRA Pharmaceuticals (NASDAQ:MIRA) last issued its quarterly earnings data on Thursday, May 14th. The company reported ($0.03) earnings per share (EPS) for the quarter.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Geode Capital Management LLC increased its holdings in shares of MIRA Pharmaceuticals by 100.0% during the fourth 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 period. Two Sigma Investments LP lifted its holdings in MIRA Pharmaceuticals by 129.8% in the third 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 period. Creative Planning bought a new position in MIRA Pharmaceuticals in the 2nd quarter valued at about $27,000. XTX Topco Ltd bought a new position in MIRA Pharmaceuticals in the 2nd quarter valued at about $26,000. Finally, Fifth Third Bancorp acquired a new position in MIRA Pharmaceuticals during the 4th quarter valued at about $30,000. Institutional investors own 35.16% of the company’s stock.

About MIRA Pharmaceuticals

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.