Neumora Therapeutics, Inc. (NASDAQ:NMRA) Short Interest Down 26.3% in August

Key Points

• Neumora Therapeutics experienced a 26.3% decrease in short interest during August, dropping from 7,160,000 shares to 5,280,000 shares.
• The company's stock recently traded at $1.66, marking a 1.2% decline during mid-day trading with a market cap of $268.84 million.
• Analysts have mixed ratings on Neumora Therapeutics, with an average price target of $7.14, while some firms increased their price objectives for the stock to $5.00.

Neumora Therapeutics, Inc. (NASDAQ:NMRA - Get Free Report) was the recipient of a significant decrease in short interest in the month of August. As of August 15th, there was short interest totaling 5,280,000 shares, adecreaseof26.3% from the July 31st total of 7,160,000 shares. Based on an average daily volume of 1,390,000 shares, the days-to-cover ratio is currently 3.8 days. Approximately8.1% of the company's shares are sold short. Approximately8.1% of the company's shares are sold short. Based on an average daily volume of 1,390,000 shares, the days-to-cover ratio is currently 3.8 days.

Neumora Therapeutics Stock Down 1.2%

Shares of NMRA traded down $0.02 during mid-day trading on Monday, hitting $1.66. 275,773 shares of the company's stock were exchanged, compared to its average volume of 1,936,054. The company has a market cap of $268.84 million, a price-to-earnings ratio of -1.06 and a beta of 2.92. Neumora Therapeutics has a fifty-two week low of $0.61 and a fifty-two week high of $17.19. The company has a debt-to-equity ratio of 0.11, a quick ratio of 10.54 and a current ratio of 10.54. The stock's 50-day moving average is $1.56 and its 200-day moving average is $1.15.

Neumora Therapeutics (NASDAQ:NMRA - Get Free Report) last issued its quarterly earnings results 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. On average, sell-side analysts anticipate that Neumora Therapeutics will post -1.61 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Mizuho upped their price objective on shares of Neumora Therapeutics from $4.00 to $5.00 and gave the company an "outperform" rating in a report on Wednesday, July 16th. Needham & Company LLC reissued a "buy" rating and issued a $5.00 price objective on shares of Neumora Therapeutics in a report on Tuesday, May 13th. Three research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $7.14.

Institutional Trading of Neumora Therapeutics

Several hedge funds have recently added to or reduced their stakes in NMRA. Lunate Capital Ltd acquired a new stake in Neumora Therapeutics in the first quarter valued at approximately $2,124,000. Graham Capital Management L.P. raised its holdings in Neumora Therapeutics by 1,643.7% during the first quarter. Graham Capital Management L.P. now owns 1,162,499 shares of the company's stock worth $1,162,000 after purchasing an additional 1,095,830 shares in the last quarter. AQR Capital Management LLC acquired a new stake in Neumora Therapeutics during the first quarter worth approximately $463,000. Stempoint Capital LP acquired a new stake in Neumora Therapeutics during the fourth quarter worth approximately $4,538,000. Finally, AlphaCore Capital LLC acquired a new stake in Neumora Therapeutics during the second quarter worth approximately $248,000. Institutional investors and hedge funds own 47.65% of the company's stock.

About Neumora Therapeutics

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.

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