MIRA Pharmaceuticals, Inc. (NASDAQ:MIRA) Sees Large Increase in Short Interest

MIRA Pharmaceuticals, Inc. (NASDAQ:MIRA) saw a large growth in short interest during 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 volume of 4,750,000 shares, the short-interest ratio is presently 0.1 days. Approximately 4.7% of the company’s shares are short sold.

Institutional Investors Weigh In On MIRA Pharmaceuticals

A number of large investors have recently modified their holdings of the business. Praetorian Wealth Management Inc. acquired a new position in shares of MIRA Pharmaceuticals in the 1st quarter valued at $30,000. Suncoast Equity Management acquired a new position in shares of MIRA Pharmaceuticals in the first quarter valued at about $44,000. Virtu Financial LLC raised its stake in shares of MIRA Pharmaceuticals by 330.2% in the first quarter. Virtu Financial LLC now owns 63,055 shares of the company’s stock worth $69,000 after purchasing an additional 48,397 shares during the last quarter. Finally, Cross Staff Investments Inc acquired a new stake in shares of MIRA Pharmaceuticals during the first quarter worth about $422,000. Hedge funds and other institutional investors own 35.16% of the company’s stock.

Wall Street Analysts Forecast Growth

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

MIRA Pharmaceuticals Stock Up 0.5 %

Shares of NASDAQ MIRA traded up $0.01 during mid-day trading on Monday, reaching $2.11. 4,219,502 shares of the company were exchanged, compared to its average volume of 2,328,546. The stock has a market cap of $31.19 million and a price-to-earnings ratio of -2.93. The firm has a 50-day moving average of $1.24 and a 200 day moving average of $1.08. MIRA Pharmaceuticals has a 1 year low of $0.51 and a 1 year high of $6.95.

MIRA Pharmaceuticals (NASDAQ:MIRA) last announced its earnings results on Monday, May 13th. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.02). On average, equities analysts forecast that MIRA Pharmaceuticals will post -0.62 earnings per share for the current year.

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.