MIRA Pharmaceuticals, Inc. (NASDAQ:MIRA) Short Interest Up 267.8% in October

MIRA Pharmaceuticals, Inc. (NASDAQ:MIRA) was the recipient of a significant growth in short interest during the month of October. As of October 31st, there was short interest totalling 1,260,000 shares, a growth of 267.8% from the October 15th total of 342,600 shares. Based on an average daily trading volume, of 2,080,000 shares, the days-to-cover ratio is currently 0.6 days. Currently, 12.7% of the company’s stock are sold short.

MIRA Pharmaceuticals Stock Performance

Shares of NASDAQ:MIRA traded down $0.04 during midday trading on Wednesday, hitting $1.56. The company’s stock had a trading volume of 663,127 shares, compared to its average volume of 2,229,775. The stock has a market capitalization of $23.06 million, a price-to-earnings ratio of -2.79 and a beta of 3.09. The stock’s 50 day simple moving average is $1.34 and its 200 day simple moving average is $1.28. MIRA Pharmaceuticals has a fifty-two week low of $0.51 and a fifty-two week high of $6.40.

MIRA Pharmaceuticals (NASDAQ:MIRA) last released its earnings results on Tuesday, August 13th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.01). As a group, analysts anticipate that MIRA Pharmaceuticals will post -0.6 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Ascendiant Capital Markets assumed coverage on MIRA Pharmaceuticals in a research report on Monday, August 5th. They issued a “buy” rating and a $11.00 price target on the stock. Rodman & Renshaw assumed coverage on MIRA Pharmaceuticals in a research report on Monday, September 30th. They issued a “buy” rating and a $17.00 price target on the stock. Finally, RODMAN&RENSHAW raised MIRA Pharmaceuticals to a “strong-buy” rating in a research report on Monday, September 30th.

Institutional Investors Weigh In On MIRA Pharmaceuticals

A hedge fund recently raised its stake in MIRA Pharmaceuticals stock. Virtu Financial LLC lifted its stake in MIRA Pharmaceuticals, Inc. (NASDAQ:MIRA) by 330.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 63,055 shares of the company’s stock after buying an additional 48,397 shares during the period. Virtu Financial LLC owned about 0.43% of MIRA Pharmaceuticals worth $69,000 at the end of the most recent reporting period. Institutional investors own 35.16% of the company’s stock.

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.