Neumora Therapeutics (NASDAQ:NMRA) Announces Earnings Results, Beats Estimates By $0.01 EPS

Key Points

• Neumora Therapeutics reported a quarterly loss of $0.23 per share, beating analysts’ expected loss of $0.24 by $0.01.
• Shares fell $0.13 to $1.60 in Friday trading, while the stock remains well below its 12-month high of $3.65. Hedge funds and other institutional investors own 47.65% of the company.
• Analyst sentiment is mixed but leans positive, with a consensus “Moderate Buy” rating and a $6.57 target price; however, several firms recently lowered their price targets.

Neumora Therapeutics (NASDAQ:NMRA - Get Free Report) released its quarterly earnings results on Friday. The company reported ($0.23) EPS for the quarter, beating analysts' consensus estimates of ($0.24) by $0.01, FiscalAI reports.

Neumora Therapeutics Stock Performance

Shares of NASDAQ:NMRA traded down $0.13 during trading on Friday, hitting $1.60. The stock had a trading volume of 1,165,545 shares, compared to its average volume of 631,906. Neumora Therapeutics has a 12 month low of $0.83 and a 12 month high of $3.65. The firm's fifty day moving average is $1.61 and its 200 day moving average is $2.12. The company has a quick ratio of 5.09, a current ratio of 5.09 and a debt-to-equity ratio of 0.75.

Institutional Investors Weigh In On Neumora Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NMRA. ADAR1 Capital Management LLC purchased a new position in Neumora Therapeutics during the 4th quarter valued at about $91,000. Jefferies Financial Group Inc. purchased a new stake in shares of Neumora Therapeutics in the 3rd quarter worth approximately $85,000. Bridgeway Capital Management LLC bought a new position in Neumora Therapeutics during the 2nd quarter valued at approximately $92,000. Sei Investments Co. bought a new position in Neumora Therapeutics during the 2nd quarter valued at approximately $157,000. Finally, Invesco Ltd. raised its stake in Neumora Therapeutics by 6.8% during the second quarter. Invesco Ltd. now owns 132,038 shares of the company's stock valued at $97,000 after buying an additional 8,383 shares during the last quarter. 47.65% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on NMRA shares. Royal Bank Of Canada reduced their target price on Neumora Therapeutics from $7.00 to $5.00 and set an "outperform" rating on the stock in a research note on Monday, July 13th. Wall Street Zen lowered Neumora Therapeutics from a "sell" rating to a "strong sell" rating in a research note on Saturday, July 25th. Needham & Company LLC cut their price target on shares of Neumora Therapeutics from $8.00 to $5.00 and set a "buy" rating on the stock in a report on Tuesday, June 16th. Weiss Ratings reissued a "sell (d-)" rating on shares of Neumora Therapeutics in a research report on Friday, July 17th. Finally, Mizuho decreased their price objective on shares of Neumora Therapeutics from $6.00 to $4.00 and set an "outperform" rating for the company in a report on Thursday, June 18th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $6.57.

Neumora Therapeutics Company Profile

Neumora Therapeutics, headquartered in Cambridge, Massachusetts, is a clinical-stage biopharmaceutical company focused on developing precision therapies for disorders of the central nervous system. The company applies an integrated approach that combines advanced biological insights, single-cell genomics and machine learning to accelerate the discovery and development of novel treatments for neurological and psychiatric diseases.

Neumora's product pipeline spans small molecules, biologics and gene-based modalities targeting areas of high unmet need such as neurodegenerative conditions, mood and anxiety disorders, neuropathic pain and movement disorders.

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