MIRA Pharmaceuticals (NASDAQ:MIRA) Rating Lowered to “Sell” at Wall Street Zen

MIRA Pharmaceuticals (NASDAQ:MIRA) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Friday.

MIRA Pharmaceuticals Stock Performance

NASDAQ:MIRA opened at $1.40 on Friday. The stock has a fifty day moving average price of $1.47 and a two-hundred day moving average price of $1.24. The stock has a market capitalization of $26.70 million, a price-to-earnings ratio of -2.86 and a beta of 1.75. MIRA Pharmaceuticals has a 1 year low of $0.73 and a 1 year high of $2.56.

MIRA Pharmaceuticals (NASDAQ:MIRA) last released its quarterly earnings data on Thursday, August 14th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.02. On average, analysts predict that MIRA Pharmaceuticals will post -0.6 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in MIRA. Citadel Advisors LLC purchased a new position in shares of MIRA Pharmaceuticals in the fourth quarter valued at $112,000. Suncoast Equity Management increased its position in shares of MIRA Pharmaceuticals by 356.1% in the first quarter. Suncoast Equity Management now owns 103,289 shares of the company’s stock valued at $101,000 after buying an additional 80,645 shares in the last quarter. International Assets Investment Management LLC purchased a new position in shares of MIRA Pharmaceuticals in the second quarter valued at $42,000. Two Sigma Investments LP purchased a new position in shares of MIRA Pharmaceuticals in the fourth quarter valued at $28,000. Finally, Creative Planning purchased a new position in shares of MIRA Pharmaceuticals in the second quarter valued at $27,000. Hedge funds and other 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.