Short Interest in MIRA Pharmaceuticals, Inc. (NASDAQ:MIRA) Rises By 31.6%

MIRA Pharmaceuticals, Inc. (NASDAQ:MIRA) was the recipient of a large increase in short interest in March. As of March 31st, there was short interest totaling 437,032 shares, an increase of 31.6% from the March 15th total of 332,123 shares. Approximately 1.1% of the shares of the company are short sold. Based on an average trading volume of 186,097 shares, the short-interest ratio is currently 2.3 days.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. First American Bank raised its stake in MIRA Pharmaceuticals by 150.0% during the 3rd quarter. First American Bank now owns 50,000 shares of the company’s stock worth $68,000 after buying an additional 30,000 shares during the period. Fifth Third Bancorp bought a new position in MIRA Pharmaceuticals during the 4th quarter worth about $30,000. XTX Topco Ltd bought a new position in shares of MIRA Pharmaceuticals in the 2nd quarter valued at about $26,000. Geode Capital Management LLC grew its holdings in shares of MIRA Pharmaceuticals by 100.0% in the 4th quarter. Geode Capital Management LLC now owns 272,878 shares of the company’s stock valued at $412,000 after acquiring an additional 136,438 shares in the last quarter. Finally, Two Sigma Investments LP grew its holdings in shares of MIRA Pharmaceuticals by 129.8% in the 3rd quarter. Two Sigma Investments LP now owns 45,703 shares of the company’s stock valued at $62,000 after acquiring an additional 25,816 shares in the last quarter. Institutional investors and hedge funds own 35.16% of the company’s stock.

MIRA Pharmaceuticals Price Performance

Shares of MIRA stock traded up $0.01 during trading hours on Friday, reaching $1.06. The company had a trading volume of 128,159 shares, compared to its average volume of 155,220. The company has a 50 day moving average of $1.14 and a 200 day moving average of $1.34. The firm has a market cap of $44.54 million, a price-to-earnings ratio of -0.69 and a beta of 1.91. MIRA Pharmaceuticals has a 1-year low of $0.84 and a 1-year high of $2.45.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on MIRA shares. Rodman & Renshaw began coverage on MIRA Pharmaceuticals in a report on Tuesday, January 13th. They issued a “buy” rating for the company. Weiss Ratings restated a “sell (e+)” rating on shares of MIRA Pharmaceuticals in a research report on Friday, March 27th. One equities research 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, the company has an average rating of “Hold”.

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.