MIRA Pharmaceuticals, Inc. (NASDAQ:MIRA) Short Interest Up 31.6% in March

MIRA Pharmaceuticals, Inc. (NASDAQ:MIRA) was the recipient of a significant increase in short interest during the month of 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. Based on an average daily trading volume, of 186,097 shares, the days-to-cover ratio is currently 2.3 days. Currently, 1.1% of the company’s stock are short sold.

Institutional Investors Weigh In On MIRA Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Fifth Third Bancorp bought a new stake in shares of MIRA Pharmaceuticals during the 4th quarter valued at $30,000. XTX Topco Ltd bought a new stake in shares of MIRA Pharmaceuticals during the 2nd quarter valued at $26,000. Creative Planning bought a new stake in shares of MIRA Pharmaceuticals during the 2nd quarter valued at $27,000. Two Sigma Investments LP raised its position in shares of MIRA Pharmaceuticals by 129.8% during the 3rd 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 during the period. Finally, First American Bank raised its position in shares of MIRA Pharmaceuticals by 150.0% during the 3rd quarter. First American Bank now owns 50,000 shares of the company’s stock valued at $68,000 after purchasing an additional 30,000 shares during the period. Hedge funds and other institutional investors own 35.16% of the company’s stock.

Wall Street Analyst Weigh In

MIRA has been the topic of several research reports. Weiss Ratings restated a “sell (e+)” rating on shares of MIRA Pharmaceuticals in a report on Friday, March 27th. Rodman & Renshaw initiated coverage on shares of MIRA Pharmaceuticals in a report on Tuesday, January 13th. They issued a “buy” rating on the stock. One 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 Trading Up 1.9%

MIRA stock traded up $0.02 on Thursday, hitting $1.05. The company had a trading volume of 317,989 shares, compared to its average volume of 166,904. MIRA Pharmaceuticals has a 12-month low of $0.83 and a 12-month high of $2.45. The stock’s 50-day simple moving average is $1.14 and its 200 day simple moving average is $1.34. The stock has a market cap of $44.12 million, a price-to-earnings ratio of -0.69 and a beta of 1.91.

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.