Neumora Therapeutics (NASDAQ:NMRA) Upgraded at Wall Street Zen

Key Points

• Wall Street Zen upgraded Neumora Therapeutics from “strong sell” to “sell,” while broader analyst sentiment remains more positive with a consensus “Moderate Buy” rating and an average price target of $6.57.
• NMRA shares fell 7.5% and opened at $1.60, near the lower end of their 12-month range of $0.83 to $3.65. The company reported a quarterly loss of $0.23 per share, narrowly beating estimates.
• Institutional investors and hedge funds have increased their involvement, with ownership reaching 47.65%; BlackRock, Perceptive Advisors and ICONIQ Capital were among recent buyers.

Neumora Therapeutics (NASDAQ:NMRA - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "strong sell" rating to a "sell" rating in a report issued on Saturday.

A number of other brokerages also recently issued reports on NMRA. HC Wainwright reaffirmed a "buy" rating on shares of Neumora Therapeutics in a report on Tuesday, July 28th. Royal Bank Of Canada cut their price target on Neumora Therapeutics from $7.00 to $5.00 and set an "outperform" rating for the company in a report on Monday, July 13th. Mizuho lowered their price objective on shares of Neumora Therapeutics from $6.00 to $4.00 and set an "outperform" rating for the company in a research report on Thursday, June 18th. Needham & Company LLC reduced their price target on shares of Neumora Therapeutics from $8.00 to $5.00 and set a "buy" rating on the stock in a research report on Tuesday, June 16th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Neumora Therapeutics in a report on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $6.57.

Neumora Therapeutics Trading Down 7.5%

NASDAQ NMRA opened at $1.60 on Friday. The stock has a market cap of $296.45 million, a PE ratio of -1.20 and a beta of 2.75. Neumora Therapeutics has a 12 month low of $0.83 and a 12 month high of $3.65. The company has a current ratio of 5.09, a quick ratio of 5.09 and a debt-to-equity ratio of 0.75. The company's 50-day moving average price is $1.61 and its 200-day moving average price is $2.12.

Neumora Therapeutics (NASDAQ:NMRA - Get Free Report) last announced its quarterly earnings data on Friday, August 14th. The company reported ($0.23) EPS for the quarter, beating the consensus estimate of ($0.24) by $0.01. Equities research analysts forecast that Neumora Therapeutics will post -0.93 earnings per share for the current year.

Hedge Funds Weigh In On Neumora Therapeutics

Large investors have recently modified their holdings of the stock. BlackRock Inc. bought a new stake in Neumora Therapeutics during the 2nd quarter worth about $13,246,000. Perceptive Advisors LLC bought a new position in shares of Neumora Therapeutics during the 1st quarter valued at about $9,953,000. ICONIQ Capital LLC bought a new stake in Neumora Therapeutics in the 2nd quarter valued at $4,350,000. Siren L.L.C. raised its position in Neumora Therapeutics by 35.1% in the 1st quarter. Siren L.L.C. now owns 8,497,822 shares of the company's stock valued at $16,571,000 after buying an additional 2,209,039 shares during the last quarter. Finally, Johnson & Johnson bought a new position in Neumora Therapeutics in the second quarter valued at $3,144,057,000. 47.65% of the stock is currently owned by institutional investors and hedge funds.

About Neumora Therapeutics

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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