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

Key Points

• Wall Street Zen upgraded Neumora Therapeutics to “sell” from “strong sell,” while analyst opinion overall remains “Moderate Buy,” with a consensus price target of $6.57.
• Shares opened at $0.50, near their 52-week low of $0.32 and well below their 52-week high of $3.65. The stock was reported up 3.3%.
• The company’s latest quarterly loss was $0.23 per share, slightly narrower than the $0.24 loss analysts expected; insiders sold about 454,000 shares over the past 90 days.

Neumora Therapeutics (NASDAQ:NMRA - Get Free Report) was upgraded by Wall Street Zen from a "strong sell" rating to a "sell" rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

Other equities research analysts have also recently issued research reports about the stock. Weiss Ratings upgraded shares of Neumora Therapeutics from a "sell (e+)" rating to a "sell (d-)" rating in a report on Friday, September 25th. Royal Bank Of Canada dropped their price target 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, HC Wainwright reissued a "buy" rating on shares of Neumora Therapeutics in a report on Tuesday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Neumora Therapeutics has an average rating of "Moderate Buy" and a consensus price target of $6.57.

Neumora Therapeutics Trading Up 3.3%

NMRA opened at $0.50 on Friday. Neumora Therapeutics has a 1 year low of $0.32 and a 1 year high of $3.65. The company has a quick ratio of 4.50, a current ratio of 4.50 and a debt-to-equity ratio of 1.19. The stock has a 50-day moving average price of $0.69 and a 200-day moving average price of $1.74.

Neumora Therapeutics (NASDAQ:NMRA - Get Free Report) last issued its quarterly earnings results on Friday, August 14th. The company reported ($0.23) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.24) by $0.01. On average, equities research analysts anticipate that Neumora Therapeutics will post -0.84 EPS for the current fiscal year.

Insider Buying and Selling at Neumora Therapeutics

In other Neumora Therapeutics news, insider Daljit Singh Aurora sold 91,690 shares of the company'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 completion of the sale, the insider directly owned 48,750 shares in the company, valued at approximately $73,125. This represents a 65.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last 90 days, insiders sold 453,833 shares of company stock worth $701,219. 26.94% of the stock is owned by insiders.

Institutional Trading of Neumora Therapeutics

Hedge funds have recently modified their holdings of the business. HBK Sorce Advisory LLC acquired a new position in Neumora Therapeutics during the 2nd quarter worth approximately $26,000. The Manufacturers Life Insurance Company purchased a new position in shares of Neumora Therapeutics during 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 about $74,000. Northwestern Mutual Wealth Management Co. purchased a new position in shares of Neumora Therapeutics in the 2nd quarter valued at about $130,000. Finally, Bank of America Corp DE acquired a new stake in shares of Neumora Therapeutics in the 2nd quarter worth approximately $171,000. Hedge funds and other institutional investors own 47.65% of the company's stock.

Neumora Therapeutics Company Profile

Neumora Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing treatments for brain diseases. The company combines neuroscience, data science and machine-learning technologies to identify disease mechanisms, discover potential therapies and develop more targeted medicines for patients with neurological and neuropsychiatric disorders.

Neumora's pipeline has included navacaprant, also known as NMRA-140, an investigational selective kappa opioid receptor antagonist being studied for major depressive disorder and related symptoms such as anhedonia, or the loss of interest and pleasure.

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