MIRA Pharmaceuticals, Inc. (NASDAQ:MIRA) Stock Short Interest Jumps 118.1%

MIRA Pharmaceuticals, Inc. (NASDAQ:MIRA) saw a significant growth in short interest during the month of September. As of September 15th, there was short interest totaling 447,832 shares, a growth of 118.1% from the August 31st total of 205,296 shares. Currently, 1.3% of the company’s shares are short sold. Based on an average daily trading volume, of 3,132,856 shares, the short-interest ratio is presently 0.1 days.

MIRA Pharmaceuticals Stock Performance

Shares of MIRA Pharmaceuticals stock traded down $0.03 during trading hours on Tuesday, hitting $0.87. The company’s stock had a trading volume of 61,367 shares, compared to its average volume of 290,999. The stock has a market cap of $36.62 million, a price-to-earnings ratio of -0.70 and a beta of 1.52. MIRA Pharmaceuticals has a twelve month low of $0.60 and a twelve month high of $2.45. The firm has a fifty day moving average of $0.79 and a 200-day moving average of $0.94.

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

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Maxim Group assumed coverage on MIRA Pharmaceuticals in a report on Thursday, September 17th. They issued a “buy” rating and a $3.50 target price for the company. 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. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $3.50.

Hedge Funds Weigh In On MIRA Pharmaceuticals

An institutional investor recently bought a new stake in MIRA Pharmaceuticals stock. BlackRock Inc. bought a new stake in MIRA Pharmaceuticals, Inc. (NASDAQ:MIRA) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 244,622 shares of the company’s stock, valued at approximately $232,000. BlackRock Inc. owned 0.58% of MIRA Pharmaceuticals as of its most recent SEC filing. Institutional investors and hedge funds own 35.16% of the company’s stock.

About MIRA Pharmaceuticals

MIRA Pharmaceuticals, Inc is a clinical-stage pharmaceutical company focused on developing novel treatments for neurological and neuropsychiatric disorders. The company’s research is directed toward therapies for conditions with significant unmet medical needs, including anxiety, depression and chronic pain.

MIRA’s lead product candidate, MIRA-55, is an oral ketamine analog being developed for potential use in anxiety, depression and neuropathic pain. The company is evaluating the compound’s therapeutic potential and safety as it advances its development program.

MIRA Pharmaceuticals is headquartered in the United States and is led by Chief Executive Officer Erez Aminov.