Graham Capital Management L.P. Acquires 1,095,830 Shares of Neumora Therapeutics, Inc. $NMRA

Key Points

• Graham Capital Management L.P. significantly increased its stake in Neumora Therapeutics, owning approximately 1.16 million shares valued at around $1.16 million, marking an increase of 1,643.7% during the first quarter.
• Neumora Therapeutics has a market cap of $283.41 million and reported earnings per share of ($0.33), outperforming the consensus estimate of ($0.38).
• Analysts have mixed ratings on Neumora Therapeutics with a consensus target price of $7.14, and three analysts giving a "Buy" rating while five rated it as "Hold."

Graham Capital Management L.P. boosted its position in shares of Neumora Therapeutics, Inc. (NASDAQ:NMRA - Free Report) by 1,643.7% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,162,499 shares of the company's stock after buying an additional 1,095,830 shares during the quarter. Graham Capital Management L.P. owned approximately 0.72% of Neumora Therapeutics worth $1,162,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Lunate Capital Ltd purchased a new position in shares of Neumora Therapeutics in the first quarter worth $2,124,000. XTX Topco Ltd raised its stake in shares of Neumora Therapeutics by 969.7% in the first quarter. XTX Topco Ltd now owns 233,597 shares of the company's stock worth $234,000 after purchasing an additional 211,759 shares during the last quarter. Federated Hermes Inc. acquired a new stake in shares of Neumora Therapeutics during the 1st quarter valued at about $285,000. Ameriprise Financial Inc. purchased a new position in Neumora Therapeutics in the 4th quarter valued at about $1,258,000. Finally, California State Teachers Retirement System boosted its holdings in shares of Neumora Therapeutics by 793.5% during the 4th quarter. California State Teachers Retirement System now owns 54,457 shares of the company's stock worth $577,000 after purchasing an additional 48,362 shares during the last quarter. Institutional investors own 47.65% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Mizuho upped their target price 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. Needham & Company LLC reiterated a "buy" rating and issued a $5.00 price objective on shares of Neumora Therapeutics in a research report on Tuesday, May 13th. Three investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $7.14.

Neumora Therapeutics Stock Performance

Shares of NMRA traded up $0.05 during trading hours on Friday, reaching $1.68. 218,791 shares of the company's stock traded hands, compared to its average volume of 434,756. Neumora Therapeutics, Inc. has a twelve month low of $0.61 and a twelve month high of $17.19. The firm has a market capitalization of $272.07 million, a price-to-earnings ratio of -1.07 and a beta of 2.91. The business's fifty day simple moving average is $1.56 and its two-hundred day simple moving average is $1.15. The company has a debt-to-equity ratio of 0.11, a current ratio of 10.54 and a quick ratio of 10.54.

Neumora Therapeutics (NASDAQ:NMRA - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported ($0.33) earnings per share for the quarter, beating analysts' consensus estimates of ($0.38) by $0.05. Analysts predict that Neumora Therapeutics, Inc. will post -1.61 earnings per share for the current year.

Neumora Therapeutics Company 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.