MIRA Pharmaceuticals (NASDAQ:MIRA) Shares Down 1.7% – Time to Sell?

MIRA Pharmaceuticals, Inc. (NASDAQ:MIRA) dropped 1.7% on Tuesday . The company traded as low as $1.13 and last traded at $1.17. Approximately 242,240 shares were traded during mid-day trading, a decline of 55% from the average daily volume of 540,112 shares. The stock had previously closed at $1.19.

Analyst Upgrades and Downgrades

MIRA has been the subject of several analyst reports. RODMAN&RENSHAW upgraded MIRA Pharmaceuticals to a “strong-buy” rating in a report on Monday, September 30th. Rodman & Renshaw assumed coverage on MIRA Pharmaceuticals in a research note on Monday, September 30th. They set a “buy” rating and a $17.00 price objective for the company.

MIRA Pharmaceuticals Stock Performance

The firm has a market cap of $19.38 million, a P/E ratio of -2.09 and a beta of 2.12. The business has a 50-day simple moving average of $1.29 and a 200 day simple moving average of $1.43.

MIRA Pharmaceuticals (NASDAQ:MIRA) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.14) EPS for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.04. On average, research analysts expect that MIRA Pharmaceuticals, Inc. will post -0.6 EPS for the current year.

Insider Buying and Selling

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 completion of the transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 6.65% of the stock is owned by insiders.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in MIRA Pharmaceuticals stock. International Assets Investment Management LLC purchased a new stake in shares of MIRA Pharmaceuticals, Inc. (NASDAQ:MIRA) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 25,000 shares of the company’s stock, valued at approximately $29,000. International Assets Investment Management LLC owned approximately 0.15% of MIRA Pharmaceuticals at the end of the most recent reporting period. 35.16% of the stock is 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.