Neumora Therapeutics (NASDAQ:NMRA) Cut to Strong Sell at Wall Street Zen

Key Points

• Wall Street Zen downgraded Neumora Therapeutics to “strong sell”, although the broader analyst consensus remains “Moderate Buy” with a $6.57 target price.
• NMRA shares opened at $0.48, near their 52-week low of $0.45, with a market capitalization of approximately $89.4 million. The company reported a quarterly loss of $0.23 per share, slightly better than estimates.
• Insiders have been selling shares, including a transaction by insider Daljit Singh Aurora that reduced his holdings by 65.29%; insiders sold 453,833 shares worth about $701,219 over the past 90 days.

Neumora Therapeutics (NASDAQ:NMRA - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "sell" rating to a "strong sell" rating in a report issued on Saturday, Wall Street Zen reports.

Several other equities analysts also recently issued reports on NMRA. HC Wainwright reissued a "buy" rating on shares of Neumora Therapeutics in a report on Tuesday, July 28th. Mizuho reduced their price objective on Neumora Therapeutics from $6.00 to $4.00 and set an "outperform" rating for the company in a research report on Thursday, June 18th. Needham & Company LLC decreased their price objective on Neumora Therapeutics from $8.00 to $5.00 and set a "buy" rating for the company in a report on Tuesday, June 16th. Royal Bank Of Canada lowered their target price on Neumora Therapeutics from $7.00 to $5.00 and set an "outperform" rating on the stock in a research report on Monday, July 13th. Finally, Weiss Ratings upgraded Neumora Therapeutics from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Friday, September 25th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Neumora Therapeutics has a consensus rating of "Moderate Buy" and a consensus target price of $6.57.

Neumora Therapeutics Price Performance

NMRA stock opened at $0.48 on Friday. The company has a quick ratio of 4.50, a current ratio of 4.50 and a debt-to-equity ratio of 1.19. Neumora Therapeutics has a 52-week low of $0.45 and a 52-week high of $3.65. The stock's 50 day moving average is $1.15 and its two-hundred day moving average is $1.61. The company has a market capitalization of $89.38 million, a PE ratio of -0.39 and a beta of 2.95.

Neumora Therapeutics (NASDAQ:NMRA - Get Free Report) last released its earnings results on Friday, August 14th. The company reported ($0.23) EPS for the quarter, beating the consensus estimate of ($0.24) by $0.01. Analysts predict that Neumora Therapeutics will post -0.83 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Daljit Singh Aurora sold 91,690 shares of the business's stock in a transaction on Monday, August 17th. The stock was sold at an average price of $1.50, for a total value of $137,535.00. Following the sale, the insider owned 48,750 shares of the company's stock, valued at approximately $73,125. The trade was a 65.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In the last 90 days, insiders sold 453,833 shares of company stock worth $701,219. 26.94% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of NMRA. HBK Sorce Advisory LLC bought a new stake in Neumora Therapeutics during the second quarter worth approximately $26,000. The Manufacturers Life Insurance Company bought a new position in shares of Neumora Therapeutics in the second quarter valued at $44,000. AMG National Trust Bank acquired a new stake in shares of Neumora Therapeutics during the 2nd quarter valued at $74,000. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Neumora Therapeutics during the 2nd quarter valued at $130,000. Finally, Bank of America Corp DE bought a new stake in shares of Neumora Therapeutics during the 2nd quarter worth $171,000. 47.65% of the stock is owned by institutional investors and hedge funds.

Neumora Therapeutics Company Profile

Neumora Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing treatments for disorders of the brain. The company combines neuroscience research with data science, including its proprietary MAP platform, to identify patient subgroups, discover potential drug targets and support the development of therapies for neurological and neuropsychiatric conditions.

Neumora's lead investigational product is navacaprant, an oral, selective kappa opioid receptor antagonist being evaluated for major depressive disorder.

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