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 target of a large drop in short interest in the month of August. As of August 15th, there was short interest totaling 5,280,000 shares, a drop of 26.3% from the July 31st total of 7,160,000 shares. Based on an average daily trading volume, of 1,390,000 shares, the days-to-cover ratio is currently 3.8 days. Currently, 8.1% of the company's shares are short sold. Currently, 8.1% of the company's shares are short sold. Based on an average daily trading volume, of 1,390,000 shares, the days-to-cover ratio is currently 3.8 days.

Wall Street Analysts Forecast Growth

Separately, Mizuho increased their target price on Neumora Therapeutics from $4.00 to $5.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 16th. Three equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Neumora Therapeutics currently has a consensus rating of "Hold" and an average target price of $7.14.

Neumora Therapeutics Stock Down 2.4%

Shares of NASDAQ:NMRA traded down $0.04 during trading on Friday, hitting $1.62. The stock had a trading volume of 440,408 shares, compared to its average volume of 361,367. Neumora Therapeutics has a 12 month low of $0.61 and a 12 month high of $17.19. The company has a market capitalization of $262.35 million, a PE ratio of -1.03 and a beta of 2.91. The firm's fifty day moving average is $1.65 and its 200 day moving average is $1.15. 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 announced its 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. Analysts anticipate that Neumora Therapeutics will post -1.61 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NMRA. Northern Trust Corp increased its position in Neumora Therapeutics by 7.7% during the 4th quarter. Northern Trust Corp now owns 734,847 shares of the company's stock valued at $7,789,000 after buying an additional 52,464 shares in the last quarter. Ameriprise Financial Inc. bought a new position in Neumora Therapeutics during the 4th quarter valued at approximately $1,258,000. BNP Paribas Financial Markets bought a new position in Neumora Therapeutics during the 4th quarter valued at approximately $221,000. Deutsche Bank AG increased its position in Neumora Therapeutics by 50.4% during the 4th quarter. Deutsche Bank AG now owns 73,103 shares of the company's stock valued at $775,000 after buying an additional 24,483 shares in the last quarter. Finally, Graham Capital Management L.P. bought a new position in Neumora Therapeutics during the 4th quarter valued at approximately $707,000. Institutional investors own 47.65% of the company's stock.

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.