Neumora Therapeutics, Inc. (NASDAQ:NMRA) Given Average Recommendation of "Moderate Buy" by Analysts

Key Points

• Analysts maintain a “Moderate Buy” consensus on Neumora Therapeutics, with six buy ratings, one strong buy, one hold and one sell. The average 12-month price target is $6.57, though several firms recently lowered their targets.
• NMRA shares opened at $0.73, near their 52-week low of $0.71 and well below the 50-day and 200-day moving averages. The company reported a quarterly loss of $0.23 per share, narrowly beating estimates.
• Insider selling has continued, including a 91,690-share sale by Daljit Singh Aurora; insiders have sold $701,219 of stock over the past 90 days. Hedge funds and other institutions own 47.65% of the company.

Shares of Neumora Therapeutics, Inc. (NASDAQ:NMRA - Get Free Report) have been assigned an average rating of "Moderate Buy" from the nine research firms that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation, six have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $6.5714.

NMRA has been the subject of a number of recent analyst reports. Mizuho reduced their target price on Neumora Therapeutics from $6.00 to $4.00 and set an "outperform" rating for the company in a report on Thursday, June 18th. Needham & Company LLC lowered their price target on shares of Neumora Therapeutics from $8.00 to $5.00 and set a "buy" rating on the stock in a report on Tuesday, June 16th. HC Wainwright restated a "buy" rating on shares of Neumora Therapeutics in a research report on Tuesday, July 28th. Weiss Ratings cut shares of Neumora Therapeutics from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Friday, August 14th. Finally, Wall Street Zen raised shares of Neumora Therapeutics from a "strong sell" rating to a "sell" rating in a report on Saturday, August 15th.

Insider Activity at Neumora Therapeutics

In other news, insider Daljit Singh Aurora sold 91,690 shares of the company's stock in a transaction on Monday, August 17th. The shares were sold at an average price of $1.50, for a total value of $137,535.00. Following the transaction, the insider owned 48,750 shares of the company's stock, valued at approximately $73,125. This represents a 65.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last ninety days, insiders have sold 453,833 shares of company stock worth $701,219. 26.94% of the stock is owned by insiders.

Hedge Funds Weigh In On Neumora Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. HBK Sorce Advisory LLC bought a new position in Neumora Therapeutics in the 2nd quarter worth about $26,000. The Manufacturers Life Insurance Company purchased a new position in shares of Neumora Therapeutics during the second quarter worth about $44,000. AMG National Trust Bank purchased a new position in shares of Neumora Therapeutics during the second quarter worth about $74,000. Northwestern Mutual Wealth Management Co. purchased a new stake in Neumora Therapeutics in the second quarter valued at approximately $130,000. Finally, Bank of America Corp DE purchased a new stake in Neumora Therapeutics in the second quarter valued at approximately $171,000. 47.65% of the stock is currently owned by hedge funds and other institutional investors.

Neumora Therapeutics Trading Down 2.7%

NASDAQ:NMRA opened at $0.73 on Friday. Neumora Therapeutics has a 1 year low of $0.71 and a 1 year high of $3.65. The stock's fifty day moving average price is $1.45 and its two-hundred day moving average price is $1.86. The company has a debt-to-equity ratio of 1.19, a current ratio of 4.50 and a quick ratio of 4.50. The company has a market cap of $137.17 million, a P/E ratio of -0.59 and a beta of 2.71.

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

About Neumora Therapeutics

Neumora Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing treatments for neurological and neuropsychiatric disorders. The company combines neuroscience research with data science and computational tools to identify disease mechanisms, discover potential drug targets and support the development of precision medicines for conditions affecting the brain.

Neumora's pipeline includes navacaprant, an investigational selective kappa opioid receptor antagonist being developed for major depressive disorder.

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