MIRA Pharmaceuticals (NASDAQ:MIRA) Stock Price Up 0.3% – Here’s What Happened

MIRA Pharmaceuticals, Inc. (NASDAQ:MIRA) shares shot up 0.3% during mid-day trading on Tuesday. The company traded as high as $0.64 and last traded at $0.6209. 50,297 shares traded hands during mid-day trading, a decline of 68% from the average session volume of 156,864 shares. The stock had previously closed at $0.6190.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on MIRA shares. Weiss Ratings upgraded shares of MIRA Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, November 2nd. Maxim Group began coverage on shares of MIRA Pharmaceuticals in a research report on Thursday, September 17th. They set a “buy” rating and a $3.50 price objective for the company. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $3.50.

MIRA Pharmaceuticals Price Performance

The stock has a 50-day moving average price of $0.71 and a 200 day moving average price of $0.94. The firm has a market cap of $26.09 million, a price-to-earnings ratio of -0.50 and a beta of 1.65.

MIRA Pharmaceuticals (NASDAQ:MIRA) last announced its earnings results on Wednesday, August 12th. The company reported ($0.03) earnings per share (EPS) for the quarter.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in MIRA Pharmaceuticals stock. BlackRock Inc. bought a new position in shares of MIRA Pharmaceuticals, Inc. (NASDAQ:MIRA) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 244,622 shares of the company’s stock, valued at approximately $232,000. BlackRock Inc. owned about 0.58% of MIRA Pharmaceuticals at the end of the most recent quarter. Hedge funds and other institutional investors own 35.16% of the company’s stock.

MIRA Pharmaceuticals Company Profile

MIRA Pharmaceuticals, Inc. is a clinical-stage pharmaceutical company focused on developing novel therapies for neurological and psychiatric conditions. The company’s research programs are centered on cannabinoid- and ketamine-related compounds intended to address conditions with significant unmet medical needs. MIRA’s primary development programs include Ketamir-2, an oral ketamine analog being evaluated for potential applications in depression, anxiety, and pain, and MIRA-55, a pharmaceutical formulation of cannabidiol being studied for potential use in neurological and neuropsychiatric disorders.