MIRA Pharmaceuticals (NASDAQ:MIRA) Trading Down 3.4%

MIRA Pharmaceuticals, Inc. (NASDAQ:MIRA)’s share price dropped 3.4% during trading on Friday . The stock traded as low as $1.10 and last traded at $1.12. Approximately 464,113 shares were traded during trading, a decline of 79% from the average daily volume of 2,260,134 shares. The stock had previously closed at $1.16.

Analyst Upgrades and Downgrades

Separately, Ascendiant Capital Markets started coverage on shares of MIRA Pharmaceuticals in a research report on Monday, August 5th. They issued a “buy” rating and a $11.00 price objective on the stock.

MIRA Pharmaceuticals Price Performance

The stock has a fifty day moving average price of $1.84 and a two-hundred day moving average price of $1.21. The company has a market cap of $16.55 million and a P/E ratio of -1.67.

MIRA Pharmaceuticals (NASDAQ:MIRA) last announced its earnings results 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). As a group, analysts forecast that MIRA Pharmaceuticals, Inc. will post -0.6 earnings per share for the current year.

Institutional Investors Weigh In On MIRA Pharmaceuticals

Several institutional investors have recently bought and sold shares of the stock. Virtu Financial LLC increased its stake in MIRA Pharmaceuticals by 330.2% during the 1st quarter. Virtu Financial LLC now owns 63,055 shares of the company’s stock valued at $69,000 after buying an additional 48,397 shares during the period. Suncoast Equity Management acquired a new position in shares of MIRA Pharmaceuticals during the first quarter valued at approximately $44,000. Cross Staff Investments Inc acquired a new position in shares of MIRA Pharmaceuticals during the first quarter valued at approximately $422,000. Finally, Praetorian Wealth Management Inc. bought a new stake in MIRA Pharmaceuticals during the first quarter worth approximately $30,000. Institutional investors and hedge funds own 35.16% of the company’s stock.

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.