MIRA Pharmaceuticals, Inc. (NASDAQ:MIRA) Short Interest Update

MIRA Pharmaceuticals, Inc. (NASDAQ:MIRA) was the target of a large drop in short interest in the month of November. As of November 15th, there was short interest totalling 729,400 shares, a drop of 42.1% from the October 31st total of 1,260,000 shares. Based on an average daily trading volume, of 1,510,000 shares, the days-to-cover ratio is presently 0.5 days. Approximately 6.4% of the company’s shares are short sold.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Ascendiant Capital Markets initiated coverage on MIRA Pharmaceuticals in a research note on Monday, August 5th. They set a “buy” rating and a $11.00 target price for the company. RODMAN&RENSHAW raised shares of MIRA Pharmaceuticals to a “strong-buy” rating in a research report on Monday, September 30th. Finally, Rodman & Renshaw initiated coverage on shares of MIRA Pharmaceuticals in a report on Monday, September 30th. They set a “buy” rating and a $17.00 price objective on the stock.

MIRA Pharmaceuticals Trading Down 0.8 %

Shares of MIRA stock traded down $0.01 on Thursday, hitting $1.27. 495,670 shares of the stock were exchanged, compared to its average volume of 2,152,777. The firm has a market capitalization of $21.03 million, a P/E ratio of -2.27 and a beta of 3.09. MIRA Pharmaceuticals has a fifty-two week low of $0.51 and a fifty-two week high of $5.01. The business has a 50-day moving average of $1.34 and a 200 day moving average of $1.32.

MIRA Pharmaceuticals (NASDAQ:MIRA) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.14) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.04. As a group, research analysts forecast that MIRA Pharmaceuticals will post -0.6 EPS for the current fiscal year.

Insiders Place Their Bets

In other MIRA Pharmaceuticals news, CEO Erez Aminov sold 55,410 shares of the stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $1.39, for a total value of $77,019.90. Following the completion of the sale, the chief executive officer now directly owns 1,105,790 shares in the company, valued at $1,537,048.10. This represents a 4.77 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 6.65% of the company’s stock.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in MIRA Pharmaceuticals stock. Virtu Financial LLC grew its holdings in shares of MIRA Pharmaceuticals, Inc. (NASDAQ:MIRA) by 330.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 63,055 shares of the company’s stock after buying an additional 48,397 shares during the quarter. Virtu Financial LLC owned approximately 0.43% of MIRA Pharmaceuticals worth $69,000 at the end of the most recent reporting period. 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.