MIRA Pharmaceuticals (NASDAQ:MIRA) Shares Down 6.6% – Time to Sell?

MIRA Pharmaceuticals, Inc. (NASDAQ:MIRA) dropped 6.6% on Thursday . The company traded as low as $1.13 and last traded at $1.13. Approximately 266,841 shares were traded during trading, an increase of 66% from the average daily volume of 161,050 shares. The stock had previously closed at $1.21.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of MIRA Pharmaceuticals in a research report on Monday, December 29th. Wall Street Zen lowered shares of MIRA Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, November 22nd. Finally, Rodman & Renshaw started coverage on MIRA Pharmaceuticals in a research report on Tuesday, January 13th. They set a “buy” rating on the stock. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold”.

MIRA Pharmaceuticals Price Performance

The stock has a market cap of $47.32 million, a P/E ratio of -0.74 and a beta of 1.80. The business’s 50 day simple moving average is $1.44 and its 200 day simple moving average is $1.45.

MIRA Pharmaceuticals (NASDAQ:MIRA) last issued its quarterly earnings data on Thursday, November 13th. The company reported ($1.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($1.07). Research analysts predict that MIRA Pharmaceuticals, Inc. will post -0.6 earnings per share for the current year.

Hedge Funds Weigh In On MIRA Pharmaceuticals

A number of large investors have recently modified their holdings of MIRA. XTX Topco Ltd bought a new position in MIRA Pharmaceuticals during the second quarter worth $26,000. Creative Planning acquired a new stake in shares of MIRA Pharmaceuticals during the second quarter valued at about $27,000. Fifth Third Bancorp bought a new stake in shares of MIRA Pharmaceuticals in the fourth quarter worth $30,000. International Assets Investment Management LLC acquired a new position in MIRA Pharmaceuticals in the second quarter valued at approximately $42,000. Finally, Two Sigma Investments LP boosted 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 worth $62,000 after purchasing an additional 25,816 shares in the last quarter. 35.16% of the stock is currently owned by institutional investors and hedge funds.

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.