Federated Hermes Inc. Invests $285,000 in Neumora Therapeutics, Inc. (NASDAQ:NMRA)

Key Points

• Federated Hermes Inc. has acquired a new position in Neumora Therapeutics by purchasing 284,576 shares during the first quarter, valued at approximately $285,000.
• Neumora Therapeutics stock has recently seen a significant drop of 11.5%, trading at $1.46 with a market cap of $236.16 million.
• Research firms have issued mixed ratings on Neumora stock, with an average rating of "Hold" and a target price of $7.14, while two firms rated it as a buy.

Federated Hermes Inc. acquired a new position in shares of Neumora Therapeutics, Inc. (NASDAQ:NMRA - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 284,576 shares of the company's stock, valued at approximately $285,000. Federated Hermes Inc. owned approximately 0.18% of Neumora Therapeutics at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of NMRA. Vanguard Group Inc. increased its holdings in Neumora Therapeutics by 4.5% in the fourth quarter. Vanguard Group Inc. now owns 4,572,308 shares of the company's stock valued at $48,466,000 after buying an additional 195,142 shares during the last quarter. Norges Bank bought a new position in Neumora Therapeutics in the 4th quarter worth approximately $1,166,000. Wells Fargo & Company MN lifted its position in Neumora Therapeutics by 23.0% in the fourth quarter. Wells Fargo & Company MN now owns 70,653 shares of the company's stock worth $749,000 after purchasing an additional 13,196 shares during the period. Invesco Ltd. lifted its position in Neumora Therapeutics by 254.1% in the fourth quarter. Invesco Ltd. now owns 49,249 shares of the company's stock worth $522,000 after purchasing an additional 35,342 shares during the period. Finally, Legal & General Group Plc lifted its position in shares of Neumora Therapeutics by 526.4% during the 4th quarter. Legal & General Group Plc now owns 59,842 shares of the company's stock valued at $634,000 after acquiring an additional 50,289 shares during the last quarter. Institutional investors and hedge funds own 47.65% of the company's stock.

Neumora Therapeutics Stock Down 2.2%

NASDAQ:NMRA traded down $0.04 during trading hours on Thursday, reaching $1.53. The company had a trading volume of 275,511 shares, compared to its average volume of 2,093,670. The firm has a market cap of $246.97 million, a price-to-earnings ratio of -0.97 and a beta of 2.91. The business's 50-day simple moving average is $1.28 and its two-hundred day simple moving average is $1.18. Neumora Therapeutics, Inc. has a twelve month low of $0.61 and a twelve month high of $17.19. The company has a quick ratio of 10.54, a current ratio of 10.54 and a debt-to-equity ratio of 0.11.

Neumora Therapeutics (NASDAQ:NMRA - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported ($0.33) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.38) by $0.05. On average, equities analysts expect that Neumora Therapeutics, Inc. will post -1.61 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Needham & Company LLC reissued a "buy" rating and set a $5.00 target price on shares of Neumora Therapeutics in a research note on Tuesday, May 13th. Mizuho raised their price target on shares of Neumora Therapeutics from $4.00 to $5.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 16th. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, Neumora Therapeutics presently has a consensus rating of "Hold" and a consensus price target of $7.14.

Neumora Therapeutics Profile

Neumora Therapeutics, Inc, a clinical-stage biopharmaceutical company, engages in developing therapeutic treatments for brain diseases, neuropsychiatric disorders, and neurodegenerative diseases. The company develops navacaprant (NMRA-140), a novel once-daily oral kappa opioid receptor antagonist, which is in phase 3 clinical trials for the treatment of major depressive disorder.