T. Rowe Price Investment Management Inc. Reduces Stock Position in Neumora Therapeutics, Inc. $NMRA

Key Points

• T. Rowe Price Investment Management Inc. reduced its stake in Neumora Therapeutics by 58.0%, selling 2,899,770 shares, and now holds approximately 1.30% of the company.
• In terms of analyst ratings, Neumora has a consensus rating of "Hold" with a price target of $7.14, while Mizuho recently raised its target to $5.00.
• Neumora Therapeutics, operating in the biopharmaceutical sector, recently reported an EPS of ($0.33), surpassing analyst expectations by $0.05.

T. Rowe Price Investment Management Inc. reduced its position in Neumora Therapeutics, Inc. (NASDAQ:NMRA - Free Report) by 58.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,103,029 shares of the company's stock after selling 2,899,770 shares during the quarter. T. Rowe Price Investment Management Inc. owned about 1.30% of Neumora Therapeutics worth $2,104,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Lunate Capital Ltd acquired a new stake in shares of Neumora Therapeutics in the first quarter valued at approximately $2,124,000. Northern Trust Corp raised its stake in shares of Neumora Therapeutics by 7.7% during the fourth quarter. Northern Trust Corp now owns 734,847 shares of the company's stock worth $7,789,000 after purchasing an additional 52,464 shares during the last quarter. Schonfeld Strategic Advisors LLC raised its stake in shares of Neumora Therapeutics by 273.9% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 521,013 shares of the company's stock worth $5,523,000 after purchasing an additional 381,676 shares during the last quarter. Stempoint Capital LP purchased a new stake in shares of Neumora Therapeutics during the fourth quarter worth approximately $4,538,000. Finally, Cerity Partners LLC raised its stake in shares of Neumora Therapeutics by 24.0% during the first quarter. Cerity Partners LLC now owns 302,505 shares of the company's stock worth $303,000 after purchasing an additional 58,597 shares during the last quarter. 47.65% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on NMRA. Needham & Company LLC restated a "buy" rating and set a $5.00 price target on shares of Neumora Therapeutics in a research note on Tuesday, May 13th. Mizuho upped their price target on Neumora Therapeutics from $4.00 to $5.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 16th. Three investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $7.14.

Neumora Therapeutics Stock Performance

NASDAQ:NMRA remained flat at $1.76 during trading hours on Thursday. The company's stock had a trading volume of 303,772 shares, compared to its average volume of 1,994,331. The company has a 50-day moving average price of $1.43 and a 200-day moving average price of $1.16. The firm has a market capitalization of $285.03 million, a P/E ratio of -1.12 and a beta of 2.91. 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, Inc. has a 1 year low of $0.61 and a 1 year high of $17.19.

Neumora Therapeutics (NASDAQ:NMRA - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported ($0.33) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.38) by $0.05. As a group, analysts predict that Neumora Therapeutics, Inc. will post -1.61 EPS for the current fiscal 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.