MIRA Pharmaceuticals, Inc. (NASDAQ:MIRA) Short Interest Update

MIRA Pharmaceuticals, Inc. (NASDAQ:MIRA) saw a large growth in short interest in the month of July. As of July 31st, there was short interest totalling 447,300 shares, a growth of 2,610.9% from the July 15th total of 16,500 shares. Based on an average daily trading volume, of 4,750,000 shares, the days-to-cover ratio is presently 0.1 days. Currently, 4.7% of the shares of the company are short sold.

Wall Street Analyst Weigh In

Separately, Ascendiant Capital Markets began coverage on shares of MIRA Pharmaceuticals in a research note on Monday, August 5th. They set a “buy” rating and a $11.00 price target on the stock.

MIRA Pharmaceuticals Stock Up 0.5 %

Shares of MIRA Pharmaceuticals stock traded up $0.01 during trading on Monday, reaching $2.11. The company’s stock had a trading volume of 4,219,502 shares, compared to its average volume of 2,328,546. The business has a 50 day moving average price of $1.24 and a 200-day moving average price of $1.08. MIRA Pharmaceuticals has a 12-month low of $0.51 and a 12-month high of $6.95. The company has a market capitalization of $31.19 million and a P/E ratio of -2.93.

MIRA Pharmaceuticals (NASDAQ:MIRA) last released its quarterly earnings results on Monday, May 13th. The company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.02). Research analysts predict that MIRA Pharmaceuticals will post -0.62 EPS for the current fiscal year.

Institutional Trading of MIRA Pharmaceuticals

Institutional investors have recently bought and sold shares of the company. Praetorian Wealth Management Inc. purchased a new stake in shares of MIRA Pharmaceuticals in the first quarter valued at about $30,000. Cross Staff Investments Inc purchased a new position in shares of MIRA Pharmaceuticals during the 1st quarter worth approximately $422,000. Suncoast Equity Management acquired a new position in shares of MIRA Pharmaceuticals during the 1st quarter worth approximately $44,000. Finally, Virtu Financial LLC lifted its stake in MIRA Pharmaceuticals by 330.2% in 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 in the last quarter. 35.16% of the stock is currently owned by hedge funds and other institutional investors.

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.