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

MIRA Pharmaceuticals, Inc. (NASDAQ:MIRA) saw a significant increase in short interest in October. As of October 31st, there was short interest totalling 1,260,000 shares, an increase of 267.8% from the October 15th total of 342,600 shares. Based on an average daily volume of 2,080,000 shares, the days-to-cover ratio is currently 0.6 days. Currently, 12.7% of the company’s stock are short sold.

MIRA Pharmaceuticals Trading Down 6.4 %

MIRA stock traded down $0.11 during midday trading on Tuesday, hitting $1.60. 611,076 shares of the company’s stock were exchanged, compared to its average volume of 2,236,895. The stock has a market capitalization of $23.65 million, a price-to-earnings ratio of -2.26 and a beta of 3.09. The firm has a 50 day moving average price of $1.35 and a 200-day moving average price of $1.28. MIRA Pharmaceuticals has a 12-month low of $0.51 and a 12-month high of $6.40.

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

Wall Street Analyst Weigh In

Several research firms recently commented on MIRA. Ascendiant Capital Markets assumed coverage on MIRA Pharmaceuticals in a research report on Monday, August 5th. They set a “buy” rating and a $11.00 price target on the stock. RODMAN&RENSHAW upgraded shares of MIRA Pharmaceuticals to a “strong-buy” rating in a research note on Monday, September 30th. Finally, Rodman & Renshaw started coverage on shares of MIRA Pharmaceuticals in a research note on Monday, September 30th. They set a “buy” rating and a $17.00 price target on the stock.

Hedge Funds Weigh In On MIRA Pharmaceuticals

A hedge fund recently raised its stake in MIRA Pharmaceuticals stock. Suncoast Equity Management boosted its holdings in MIRA Pharmaceuticals, Inc. (NASDAQ:MIRA) by 125.0% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 90,000 shares of the company’s stock after acquiring an additional 50,000 shares during the period. Suncoast Equity Management owned about 0.61% of MIRA Pharmaceuticals worth $117,000 at the end of the most recent quarter. 35.16% of the stock is owned by institutional investors.

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.