MIRA Pharmaceuticals (NASDAQ:MIRA) Stock Price Down 2.6% – What’s Next?

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

Analyst Ratings Changes

Separately, Weiss Ratings cut shares of MIRA Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, August 20th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold”.

MIRA Pharmaceuticals Stock Down 2.6%

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

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MIRA. XTX Topco Ltd bought a new position in MIRA Pharmaceuticals during the second quarter worth about $26,000. Creative Planning bought a new position in MIRA Pharmaceuticals in the 2nd quarter valued at $27,000. Fifth Third Bancorp purchased a new position in shares of MIRA Pharmaceuticals during the 4th quarter valued at $30,000. Two Sigma Investments LP raised its stake in MIRA Pharmaceuticals by 129.8% in the third quarter. Two Sigma Investments LP now owns 45,703 shares of the company’s stock valued at $62,000 after purchasing an additional 25,816 shares in the last quarter. Finally, BlackRock Inc. bought a new stake in MIRA Pharmaceuticals during the second quarter valued at approximately $232,000. 35.16% of the stock is currently owned by hedge funds and other institutional investors.

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.