MIRA Pharmaceuticals, Inc. (NASDAQ:MIRA) Sees Significant Decrease in Short Interest

MIRA Pharmaceuticals, Inc. (NASDAQ:MIRA) was the target of a large decline in short interest during the month of October. As of October 15th, there was short interest totalling 342,600 shares, a decline of 22.2% from the September 30th total of 440,300 shares. Based on an average daily volume of 2,390,000 shares, the short-interest ratio is presently 0.1 days. Approximately 3.4% of the company’s stock are short sold.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in MIRA. Cross Staff Investments Inc bought a new position in MIRA Pharmaceuticals during the first quarter valued at about $422,000. Suncoast Equity Management increased its position in shares of MIRA Pharmaceuticals by 125.0% during the third quarter. Suncoast Equity Management now owns 90,000 shares of the company’s stock valued at $117,000 after purchasing an additional 50,000 shares during the period. Finally, Virtu Financial LLC raised its stake in shares of MIRA Pharmaceuticals by 330.2% in the first quarter. Virtu Financial LLC now owns 63,055 shares of the company’s stock valued at $69,000 after purchasing an additional 48,397 shares in the last quarter. Institutional investors and hedge funds own 35.16% of the company’s stock.

Wall Street Analysts Forecast Growth

MIRA has been the subject of several recent analyst reports. RODMAN&RENSHAW upgraded MIRA Pharmaceuticals to a “strong-buy” rating in a research note on Monday, September 30th. Rodman & Renshaw started coverage on MIRA Pharmaceuticals in a report on Monday, September 30th. They set a “buy” rating and a $17.00 price target on the stock. Finally, Ascendiant Capital Markets initiated coverage on shares of MIRA Pharmaceuticals in a report on Monday, August 5th. They set a “buy” rating and a $11.00 price objective for the company.

MIRA Pharmaceuticals Stock Up 14.2 %

NASDAQ MIRA traded up $0.16 during trading on Friday, hitting $1.29. The company’s stock had a trading volume of 5,531,355 shares, compared to its average volume of 2,074,132. MIRA Pharmaceuticals has a 52 week low of $0.51 and a 52 week high of $6.40. The firm has a market cap of $19.07 million, a P/E ratio of -1.93 and a beta of 4.20. The firm has a 50 day moving average price of $1.37 and a 200 day moving average price of $1.20.

MIRA Pharmaceuticals (NASDAQ:MIRA) last announced its quarterly earnings data on Tuesday, August 13th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.01). On average, equities analysts expect that MIRA Pharmaceuticals will post -0.6 earnings per share for the current year.

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.