1,849,445 Shares in Neumora Therapeutics, Inc. $NMRA Purchased by Johnson & Johnson

Key Points

• Johnson & Johnson acquired 1,849,445 shares of Neumora Therapeutics during the second quarter, giving it a 1% stake and making NMRA its 12th-largest portfolio holding. Hedge funds and other institutions collectively own 47.65% of the company.
• Analysts remain moderately positive, with a consensus “Moderate Buy” rating and an average price target of $6.57, although several firms recently lowered their targets to between $4 and $5.
• Neumora shares fell 7.5% and opened at $1.60, while the company reported a quarterly loss of $0.23 per share—slightly better than the $0.24 consensus estimate.

Johnson & Johnson acquired a new position in Neumora Therapeutics, Inc. (NASDAQ:NMRA - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 1,849,445 shares of the company's stock, valued at approximately $3,144,057,000. Neumora Therapeutics accounts for about 0.4% of Johnson & Johnson's portfolio, making the stock its 12th largest position. Johnson & Johnson owned 1.00% of Neumora Therapeutics as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NMRA. Perceptive Advisors LLC bought a new position in shares of Neumora Therapeutics during the 1st quarter valued at approximately $9,953,000. Siren L.L.C. lifted its stake in Neumora Therapeutics by 35.1% in the first quarter. Siren L.L.C. now owns 8,497,822 shares of the company's stock valued at $16,571,000 after purchasing an additional 2,209,039 shares during the last quarter. Millennium Management LLC lifted its stake in Neumora Therapeutics by 80.1% in the fourth quarter. Millennium Management LLC now owns 3,616,514 shares of the company's stock valued at $6,474,000 after purchasing an additional 1,608,266 shares during the last quarter. Ikarian Capital LLC grew its holdings in Neumora Therapeutics by 10,128.9% during the fourth quarter. Ikarian Capital LLC now owns 1,278,408 shares of the company's stock valued at $2,288,000 after purchasing an additional 1,265,910 shares during the period. Finally, Jacobs Levy Equity Management Inc. bought a new position in Neumora Therapeutics during the third quarter valued at $1,512,000. 47.65% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on NMRA. Wall Street Zen upgraded Neumora Therapeutics from a "strong sell" rating to a "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. 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. HC Wainwright restated a "buy" rating on shares of Neumora Therapeutics in a research note on Tuesday, July 28th. Finally, Royal Bank Of Canada dropped their price objective 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. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $6.57.

Neumora Therapeutics Stock Down 7.5%

Neumora Therapeutics stock opened at $1.60 on Friday. The firm has a 50 day simple moving average of $1.61 and a 200 day simple moving average of $2.12. The company has a current ratio of 5.09, a quick ratio of 5.09 and a debt-to-equity ratio of 0.75. Neumora Therapeutics, Inc. has a 1-year low of $0.83 and a 1-year high of $3.65. The firm has a market capitalization of $296.45 million, a price-to-earnings ratio of -1.30 and a beta of 2.75.

Neumora Therapeutics (NASDAQ:NMRA - Get Free Report) last posted its 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, analysts predict that Neumora Therapeutics, Inc. will post -0.93 earnings per share for the current year.

Neumora Therapeutics Profile

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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