MIRA Pharmaceuticals (NASDAQ:MIRA) Trading Down 2.6% – Here’s Why

Shares of MIRA Pharmaceuticals, Inc. (NASDAQ:MIRA) traded down 2.6% during mid-day trading on Friday . The stock traded as low as $0.75 and last traded at $0.7501. 31,846 shares changed hands during trading, a decline of 67% from the average session volume of 97,654 shares. The stock had previously closed at $0.7701.

Wall Street Analyst Weigh In

Separately, Weiss Ratings lowered MIRA Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, August 20th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold”.

MIRA Pharmaceuticals Price Performance

The stock has a market capitalization of $31.52 million, a PE ratio of -0.60 and a beta of 1.54. The firm’s 50 day simple moving average is $0.85 and its 200 day simple moving average is $1.00.

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

Institutional Trading of MIRA Pharmaceuticals

Several hedge funds have recently added to or reduced their stakes in the business. Fifth Third Bancorp purchased a new stake in MIRA Pharmaceuticals during the fourth quarter valued at about $30,000. XTX Topco Ltd bought a new position in shares of MIRA Pharmaceuticals during the second quarter valued at about $26,000. Creative Planning bought a new position in shares of MIRA Pharmaceuticals during the second quarter valued at about $27,000. Two Sigma Investments LP increased its holdings in shares of MIRA Pharmaceuticals by 129.8% in the third quarter. Two Sigma Investments LP now owns 45,703 shares of the company’s stock worth $62,000 after buying an additional 25,816 shares during the period. Finally, Geode Capital Management LLC increased its holdings in shares of MIRA Pharmaceuticals by 100.0% in the fourth quarter. Geode Capital Management LLC now owns 272,878 shares of the company’s stock worth $412,000 after buying an additional 136,438 shares during the period. 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.