MIRA Pharmaceuticals (NASDAQ:MIRA) Trading 6.2% Higher – Time to Buy?

MIRA Pharmaceuticals, Inc. (NASDAQ:MIRA)’s share price rose 6.2% during mid-day trading on Wednesday . The company traded as high as $1.22 and last traded at $1.20. Approximately 249,482 shares traded hands during mid-day trading, a decline of 25% from the average daily volume of 332,859 shares. The stock had previously closed at $1.13.

MIRA Pharmaceuticals Price Performance

The business’s 50 day moving average is $1.19 and its 200-day moving average is $1.48. The company has a market cap of $19.87 million, a PE ratio of -2.14 and a beta of 2.11.

MIRA Pharmaceuticals (NASDAQ:MIRA) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.04. As a group, sell-side analysts predict that MIRA Pharmaceuticals, Inc. will post -0.6 EPS for the current fiscal year.

Insiders Place Their Bets

In other MIRA Pharmaceuticals news, CEO Erez Aminov sold 55,410 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $1.39, for a total transaction of $77,019.90. Following the sale, the chief executive officer now owns 1,105,790 shares of the company’s stock, valued at approximately $1,537,048.10. This trade represents a 4.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 6.65% of the stock is owned by corporate insiders.

Institutional Trading of MIRA Pharmaceuticals

A hedge fund recently raised its stake in MIRA Pharmaceuticals stock. Suncoast Equity Management grew its stake in shares of MIRA Pharmaceuticals, Inc. (NASDAQ:MIRA) by 125.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 90,000 shares of the company’s stock after purchasing an additional 50,000 shares during the quarter. Suncoast Equity Management owned approximately 0.61% of MIRA Pharmaceuticals worth $117,000 as of its most recent filing with the Securities and Exchange Commission. 35.16% of the stock is owned by institutional investors and hedge funds.

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.