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

Key Points

• Neumora Therapeutics has a “Moderate Buy” consensus rating from 10 analysts, with six buys, one strong buy, one hold and two sells. The average 12-month price target is $6.57, despite recent target reductions by RBC and Needham to $5.
• NMRA shares opened at $1.52 and have declined 6.4%, trading below both their 50-day moving average of $1.61 and 200-day moving average of $2.10. The company slightly exceeded quarterly EPS expectations, reporting a loss of $0.23 per share versus the forecasted $0.24 loss.
• Insiders sold 453,833 shares worth $701,219 over the past 90 days, including a transaction that reduced insider Daljit Singh Aurora’s holdings by 65.29%. Hedge funds and institutional investors own 47.65% of the stock, with several major firms recently adding positions.

Shares of Neumora Therapeutics, Inc. (NASDAQ:NMRA - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the ten research firms that are currently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, one has issued a hold rating, six have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $6.5714.

Several research analysts have recently issued reports on the stock. HC Wainwright restated a "buy" rating on shares of Neumora Therapeutics in a report on Tuesday, July 28th. Royal Bank Of Canada cut their price target on shares of Neumora Therapeutics from $7.00 to $5.00 and set an "outperform" rating on the stock in a report on Monday, July 13th. Wall Street Zen raised shares of Neumora Therapeutics from a "strong sell" rating to a "sell" rating in a research note on Saturday, August 15th. Needham & Company LLC cut their target price on Neumora Therapeutics from $8.00 to $5.00 and set a "buy" rating on the stock in a research note on Tuesday, June 16th. Finally, Weiss Ratings lowered Neumora Therapeutics from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Friday, August 14th.

Insider Activity

In related news, insider Daljit Singh Aurora sold 91,690 shares of the company's stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $1.50, for a total transaction of $137,535.00. Following the completion of the transaction, the insider owned 48,750 shares in the company, valued at $73,125. This represents a 65.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 453,833 shares of company stock worth $701,219 over the last 90 days. 26.94% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in NMRA. Siren L.L.C. raised its holdings in Neumora Therapeutics by 35.1% in the 1st quarter. Siren L.L.C. now owns 8,497,822 shares of the company's stock worth $16,571,000 after purchasing an additional 2,209,039 shares in the last quarter. BlackRock Inc. bought a new stake in shares of Neumora Therapeutics during the 2nd quarter valued at about $13,246,000. Perceptive Advisors LLC purchased a new position in shares of Neumora Therapeutics during the first quarter valued at about $9,953,000. Millennium Management LLC increased its position in shares of Neumora Therapeutics by 80.1% during the fourth quarter. Millennium Management LLC now owns 3,616,514 shares of the company's stock valued at $6,474,000 after buying an additional 1,608,266 shares during the period. Finally, ICONIQ Capital LLC purchased a new stake in Neumora Therapeutics in the second quarter worth about $4,350,000. 47.65% of the stock is owned by hedge funds and other institutional investors.

Neumora Therapeutics Stock Down 6.4%

Shares of NASDAQ:NMRA opened at $1.52 on Tuesday. The stock has a market capitalization of $286.55 million, a P/E ratio of -1.24 and a beta of 2.75. The stock's 50-day moving average price is $1.61 and its 200-day moving average price is $2.10. The company has a current ratio of 4.50, a quick ratio of 4.50 and a debt-to-equity ratio of 1.19. Neumora Therapeutics has a 12-month low of $0.83 and a 12-month high of $3.65.

Neumora Therapeutics (NASDAQ:NMRA - Get Free Report) last posted its quarterly earnings results on Friday, August 14th. The company reported ($0.23) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.24) by $0.01. On average, equities analysts anticipate that Neumora Therapeutics will post -0.85 earnings per share for the current year.

About Neumora Therapeutics

Neumora Therapeutics, headquartered in Cambridge, Massachusetts, is a clinical-stage biopharmaceutical company focused on developing precision therapies for disorders of the central nervous system. The company applies an integrated approach that combines advanced biological insights, single-cell genomics and machine learning to accelerate the discovery and development of novel treatments for neurological and psychiatric diseases.

Neumora's product pipeline spans small molecules, biologics and gene-based modalities targeting areas of high unmet need such as neurodegenerative conditions, mood and anxiety disorders, neuropathic pain and movement disorders.

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