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

MIRA Pharmaceuticals, Inc. (NASDAQ:MIRA) saw a significant drop in short interest in 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 shares of the stock are short sold.

Wall Street Analyst Weigh In

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

Insider Activity

In other news, CEO Erez Aminov sold 55,410 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $1.39, for a total transaction of $77,019.90. Following the transaction, the chief executive officer now directly owns 1,105,790 shares in the company, valued at approximately $1,537,048.10. This represents a 4.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 6.65% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On MIRA Pharmaceuticals

A hedge fund recently raised its stake in MIRA Pharmaceuticals stock. Suncoast Equity Management lifted its position in MIRA Pharmaceuticals, Inc. (NASDAQ:MIRA) by 125.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 90,000 shares of the company’s stock after acquiring an additional 50,000 shares during the period. Suncoast Equity Management owned approximately 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 and hedge funds.

MIRA Pharmaceuticals Stock Performance

MIRA traded down $0.01 during trading on Thursday, reaching $1.27. 495,670 shares of the company’s stock were exchanged, compared to its average volume of 2,152,777. The company’s fifty day moving average price is $1.34 and its 200-day moving average price is $1.32. The firm has a market capitalization of $21.03 million, a PE 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.

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