Orbimed Advisors LLC Has $8.53 Million Stock Position in Neumora Therapeutics, Inc. (NASDAQ:NMRA)

Orbimed Advisors LLC decreased its position in shares of Neumora Therapeutics, Inc. (NASDAQ:NMRA - Free Report) by 46.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 804,996 shares of the company's stock after selling 695,004 shares during the period. Orbimed Advisors LLC owned approximately 0.50% of Neumora Therapeutics worth $8,533,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Janus Henderson Group PLC bought a new position in Neumora Therapeutics during the 4th quarter worth $281,000. Graham Capital Management L.P. bought a new position in shares of Neumora Therapeutics in the fourth quarter worth $707,000. Deutsche Bank AG increased its position in shares of Neumora Therapeutics by 50.4% in the fourth quarter. Deutsche Bank AG now owns 73,103 shares of the company's stock worth $775,000 after purchasing an additional 24,483 shares during the period. Cutter Capital Management LP bought a new position in shares of Neumora Therapeutics in the fourth quarter worth $1,590,000. Finally, Brevan Howard Capital Management LP bought a new position in shares of Neumora Therapeutics in the fourth quarter worth $854,000. Institutional investors own 47.65% of the company's stock.

Neumora Therapeutics Price Performance

NASDAQ:NMRA traded up $0.03 during trading hours on Friday, hitting $0.70. The company's stock had a trading volume of 1,188,042 shares, compared to its average volume of 1,508,154. The stock has a fifty day simple moving average of $0.85 and a 200-day simple moving average of $4.29. The company has a market capitalization of $113.22 million, a P/E ratio of -0.37 and a beta of 2.96. Neumora Therapeutics, Inc. has a twelve month low of $0.61 and a twelve month high of $17.19.

Neumora Therapeutics (NASDAQ:NMRA - Get Free Report) last announced its quarterly earnings results on Monday, May 12th. The company reported ($0.42) EPS for the quarter, missing analysts' consensus estimates of ($0.40) by ($0.02). On average, equities analysts predict that Neumora Therapeutics, Inc. will post -1.61 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. HC Wainwright decreased their price target on Neumora Therapeutics from $30.00 to $18.00 and set a "buy" rating on the stock in a research report on Tuesday, March 4th. Guggenheim cut Neumora Therapeutics from a "buy" rating to a "neutral" rating in a research report on Friday, March 7th. Royal Bank of Canada restated a "sector perform" rating and issued a $4.00 price target on shares of Neumora Therapeutics in a research report on Tuesday, March 4th. William Blair cut Neumora Therapeutics from an "outperform" rating to a "market perform" rating in a research report on Monday, March 10th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $5.00 price objective on shares of Neumora Therapeutics in a research note on Tuesday, May 13th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Neumora Therapeutics has an average rating of "Hold" and an average target price of $9.29.

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.