BlackRock Inc. Buys Shares of 7,791,869 Neumora Therapeutics, Inc. $NMRA

Key Points

• BlackRock acquired 7.79 million shares of Neumora Therapeutics in the second quarter, worth approximately $13.25 million and representing about 4.21% of the company. Institutional investors collectively own 47.65% of NMRA.
• Neumora shares opened at $1.35, down 2.2%, with the stock trading well below its 50-day and 200-day moving averages. The company reported a quarterly loss of $0.23 per share, slightly better than analyst expectations.
• Analyst sentiment remains cautiously positive, with a consensus “Moderate Buy” rating and an average price target of $6.57, although several analysts recently lowered their targets. Meanwhile, insiders sold 453,833 shares worth about $701,219 over the past quarter.

BlackRock Inc. purchased a new position in Neumora Therapeutics, Inc. (NASDAQ:NMRA - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 7,791,869 shares of the company's stock, valued at approximately $13,246,000. BlackRock Inc. owned about 4.21% of Neumora Therapeutics as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. HBK Sorce Advisory LLC purchased a new position in Neumora Therapeutics in the 2nd quarter valued at about $26,000. Hsbc Holdings PLC purchased a new position in shares of Neumora Therapeutics during the fourth quarter valued at approximately $27,000. Virtu Financial LLC acquired a new stake in Neumora Therapeutics during the third quarter worth approximately $31,000. Fred Alger Management LLC acquired a new stake in Neumora Therapeutics during the fourth quarter worth approximately $40,000. Finally, Canada Pension Plan Investment Board purchased a new stake in Neumora Therapeutics in the 2nd quarter worth approximately $41,000. Hedge funds and other institutional investors own 47.65% of the company's stock.

Insider Buying and Selling at Neumora Therapeutics

In other news, insider Daljit Singh Aurora sold 91,690 shares of Neumora Therapeutics stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $1.50, for a total value of $137,535.00. Following the transaction, the insider directly owned 48,750 shares of the company's stock, valued at $73,125. The trade was a 65.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Over the last quarter, insiders sold 453,833 shares of company stock valued at $701,219. Insiders own 26.94% of the company's stock.

Neumora Therapeutics Trading Down 2.2%

Shares of NMRA opened at $1.35 on Friday. The company has a current ratio of 4.50, a quick ratio of 4.50 and a debt-to-equity ratio of 1.19. The firm has a market capitalization of $253.67 million, a P/E ratio of -1.10 and a beta of 2.71. The stock's fifty day simple moving average is $1.59 and its 200 day simple moving average is $2.03. Neumora Therapeutics, Inc. has a twelve month low of $0.83 and a twelve month high of $3.65.

Neumora Therapeutics (NASDAQ:NMRA - Get Free Report) last issued its earnings results 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. On average, equities research analysts forecast that Neumora Therapeutics, Inc. will post -0.85 earnings per share for the current year.

Analyst Upgrades and Downgrades

NMRA has been the topic of a number of recent analyst reports. HC Wainwright reissued a "buy" rating on shares of Neumora Therapeutics in a research note on Tuesday, July 28th. Weiss Ratings downgraded Neumora Therapeutics from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Friday, August 14th. Needham & Company LLC reduced their target price on Neumora Therapeutics from $8.00 to $5.00 and set a "buy" rating on the stock in a research report on Tuesday, June 16th. Royal Bank Of Canada lowered their price target on Neumora Therapeutics from $7.00 to $5.00 and set an "outperform" rating for the company in a report on Monday, July 13th. Finally, 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. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $6.57.

Neumora Therapeutics Company 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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