Neumora Therapeutics (NASDAQ:NMRA) Receives Sell (D-) Rating from Weiss Ratings

Key Points

• Neumora Therapeutics received a "sell (D-)" rating from Weiss Ratings, indicating negative analysts' sentiment on the stock's performance.
• The company's stock price has seen a significant increase, up by 13.9%, despite facing mixed ratings from other firms and a consensus target price of $7.14.
• Recently, hedge funds have shown increased interest, with 47.65% of the stock currently owned by institutional investors, signaling potential growth prospects for Neumora Therapeutics.

Neumora Therapeutics (NASDAQ:NMRA - Get Free Report)'s stock had its "sell (d-)" rating reiterated by research analysts at Weiss Ratings in a research report issued on Saturday,Weiss Ratings reports.

NMRA has been the subject of several other reports. Mizuho upped their target price on Neumora Therapeutics from $4.00 to $5.00 and gave the company an "outperform" rating in a report on Wednesday, July 16th. JPMorgan Chase & Co. cut Neumora Therapeutics from a "neutral" rating to an "underweight" rating in a report on Tuesday, September 16th. Three investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $7.14.

Neumora Therapeutics Stock Up 13.9%

Shares of NMRA opened at $2.63 on Friday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 10.54 and a current ratio of 10.54. Neumora Therapeutics has a one year low of $0.61 and a one year high of $14.09. The stock has a market capitalization of $425.92 million, a price-to-earnings ratio of -1.68 and a beta of 2.92. The stock has a 50 day moving average price of $1.76 and a 200 day moving average price of $1.29.

Neumora Therapeutics (NASDAQ:NMRA - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported ($0.33) EPS for the quarter, topping the consensus estimate of ($0.38) by $0.05. Equities research analysts forecast that Neumora Therapeutics will post -1.61 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Neumora Therapeutics

A number of hedge funds have recently modified their holdings of the business. Lunate Capital Ltd purchased a new position in shares of Neumora Therapeutics during the 1st quarter worth $2,124,000. Graham Capital Management L.P. grew its holdings in shares of Neumora Therapeutics by 1,643.7% during the 1st 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 during the period. AQR Capital Management LLC purchased a new position in shares of Neumora Therapeutics during the 1st quarter worth $463,000. AlphaCore Capital LLC purchased a new position in shares of Neumora Therapeutics during the 2nd quarter worth $248,000. Finally, Cerity Partners LLC grew its holdings in shares of Neumora Therapeutics by 7.2% during the 2nd quarter. Cerity Partners LLC now owns 324,219 shares of the company's stock worth $238,000 after purchasing an additional 21,714 shares during the period. 47.65% of the stock is currently owned by hedge funds and other institutional investors.

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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