Neumora Therapeutics, Inc. (NMRA) - What Are Researchers Thinking About This Stock?

Key Points

• Analysts maintain a “Moderate Buy” consensus on Neumora Therapeutics, with six buy ratings, one strong buy, one hold and one sell. However, several firms recently reduced their price targets, bringing the average 12-month target to $6.57.
• NMRA shares have fallen sharply, opening at $0.37 versus 50-day and 200-day moving averages of $1.10 and $1.57, respectively. The stock has a market capitalization of about $69.6 million and a 52-week range of $0.37 to $3.65.
• The company modestly beat quarterly earnings expectations, reporting a loss of $0.23 per share versus the $0.24 consensus estimate. Neumora is a clinical-stage neuroscience company whose lead drug candidate, navacaprant, is being evaluated for major depressive disorder; insiders have sold 453,833 shares over the past 90 days.

Neumora Therapeutics, Inc. (NASDAQ:NMRA - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the nine analysts that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, six have given 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 a report on the stock in the last year is $6.57.

NMRA has been the topic of a number of analyst reports. Wall Street Zen cut shares of Neumora Therapeutics from a "sell" rating to a "strong sell" rating in a research note on Saturday. Mizuho cut their price target on Neumora Therapeutics from $6.00 to $4.00 and set an "outperform" rating for the company in a research note on Thursday, June 18th. HC Wainwright reissued a "buy" rating on shares of Neumora Therapeutics in a report on Tuesday, July 28th. Needham & Company LLC decreased their price target on Neumora Therapeutics from $8.00 to $5.00 and set a "buy" rating on the stock in a report on Tuesday, June 16th. Finally, Royal Bank Of Canada lowered their price objective 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.

Insider Buying and Selling

In related news, insider Daljit Singh Aurora sold 21,055 shares of the business's stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $1.60, for a total value of $33,688.00. Following the sale, the insider directly owned 48,750 shares in the company, valued at approximately $78,000. The trade was a 30.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last 90 days, insiders have sold 453,833 shares of company stock valued at $701,219. 26.94% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Squarepoint Ops LLC grew its holdings in Neumora Therapeutics by 132.5% during the 2nd quarter. Squarepoint Ops LLC now owns 363,145 shares of the company's stock worth $617,000 after acquiring an additional 206,931 shares in the last quarter. Velan Capital Investment Management LP increased its position in Neumora Therapeutics by 187.5% during the 2nd quarter. Velan Capital Investment Management LP now owns 230,000 shares of the company's stock valued at $391,000 after purchasing an additional 150,000 shares during the period. Bank of America Corp DE purchased a new position in Neumora Therapeutics during the 2nd quarter valued at about $171,000. ADAR1 Capital Management LLC bought a new stake in shares of Neumora Therapeutics in the 2nd quarter valued at about $357,000. Finally, Canada Pension Plan Investment Board bought a new stake in shares of Neumora Therapeutics in the 2nd quarter valued at about $337,000. Hedge funds and other institutional investors own 47.65% of the company's stock.

Neumora Therapeutics Trading Down 15.3%

Shares of Neumora Therapeutics stock opened at $0.37 on Wednesday. The company's fifty day simple moving average is $1.10 and its 200-day simple moving average is $1.57. The stock has a market capitalization of $69.56 million, a PE ratio of -0.30 and a beta of 2.95. Neumora Therapeutics has a 1-year low of $0.37 and a 1-year high of $3.65. The company has a debt-to-equity ratio of 1.19, a current ratio of 4.50 and a quick ratio of 4.50.

Neumora Therapeutics (NASDAQ:NMRA - Get Free Report) last posted its quarterly earnings data on Friday, August 14th. The company reported ($0.23) earnings per share for the quarter, beating analysts' consensus estimates of ($0.24) by $0.01. As a group, equities analysts anticipate that Neumora Therapeutics will post -0.83 earnings per share for the current year.

About Neumora Therapeutics

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.