MIRA Pharmaceuticals (NASDAQ:MIRA) Stock Price Up 3.1% – Should You Buy?

MIRA Pharmaceuticals, Inc. (NASDAQ:MIRA) shares traded up 3.1% on Thursday . The company traded as high as $0.6980 and last traded at $0.6782. 71,420 shares were traded during mid-day trading, a decline of 26% from the average session volume of 96,692 shares. The stock had previously closed at $0.6577.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of MIRA Pharmaceuticals in a research note on Wednesday, June 24th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold”.

MIRA Pharmaceuticals Price Performance

The stock’s fifty day moving average price is $0.92 and its 200-day moving average price is $1.06. The firm has a market cap of $28.50 million, a price-to-earnings ratio of -0.52 and a beta of 1.54.

MIRA Pharmaceuticals (NASDAQ:MIRA) last issued its quarterly earnings results on Thursday, May 14th. The company reported ($0.03) earnings per share for the quarter.

Institutional Investors Weigh In On MIRA Pharmaceuticals

Several institutional investors have recently made changes to their positions in the company. Fifth Third Bancorp acquired a new position in MIRA Pharmaceuticals in the fourth quarter worth approximately $30,000. XTX Topco Ltd bought a new stake in MIRA Pharmaceuticals in the second quarter worth approximately $26,000. Creative Planning acquired a new position in shares of MIRA Pharmaceuticals during the 2nd quarter worth $27,000. Two Sigma Investments LP raised its holdings 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 in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in MIRA Pharmaceuticals by 100.0% in the fourth quarter. Geode Capital Management LLC now owns 272,878 shares of the company’s stock worth $412,000 after purchasing an additional 136,438 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.