Mira Pharmaceuticals (NASDAQ:MIRA) stock is down on Tuesday as the clinical-stage pharmaceutical company’s shares come off of a major rally on Monday.
Shares of MIRA stock closed out Monday’s normal trading hours up 627.4%. That came alongside heavy trading, with more than 153 million shares traded. For comparison, its daily average trading volume is about 3.2 million shares.
Mira Pharmaceuticals stock experienced this rally after releasing data from a pre-clinical study of Ketamir-2. This is the company’s novel oral ketamine analog designed to treat neurological and neuropsychiatric disorders.
The big news here is that the results were positive. This has the company excited about the prospect of furthering the development of Ketamir-2 and submitting an investigational new drug (IND) application for it.
MIRA Stock Movement on Tuesday
Considering the massive rally MIRA shares underwent yesterday, it makes sense they would give up some of those gains in the days to follow. This has the stock dropping 27.4% as of Tuesday morning.
Today’s dip comes with more than 5.5 million shares changing hands this morning. That’s already above its daily average trading volume but is well below yesterday’s heavy trading.
Investors who are seeking out even more of the most recent stock market stories today will want to keep reading!
We have all of the hottest stock market news that traders need to know about on Tuesday! That includes everything happening with shares of TransCode Therapeutics (NASDAQ:RNAZ) stock, Nature’s Miracle (NASDAQ:NMHI) stock and Warrantee (NASDAQ:WRNT) stock today. All of this info is ready to go at the links below!
More Stock Market News for Tuesday
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- Why Is Nature’s Miracle (NMHI) Stock Up 94% Today?
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
On the date of publication, the responsible editor did not have (either directly or indirectly) any positions in the securities mentioned in this article.
