Neumora Therapeutics (NASDAQ:NMRA) Releases Earnings Results, Misses Estimates By $0.01 EPS

Neumora Therapeutics (NASDAQ:NMRA) issued its quarterly earnings data on Thursday. The company reported ($0.35) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.34) by ($0.01), Zacks reports.

Neumora Therapeutics Trading Down 0.8%

Shares of NMRA traded down $0.02 during trading hours on Friday, hitting $2.56. The stock had a trading volume of 1,212,594 shares, compared to its average volume of 3,310,505. Neumora Therapeutics has a 12-month low of $0.61 and a 12-month high of $14.09. The firm has a market cap of $414.59 million, a P/E ratio of -1.74 and a beta of 2.98. The company has a debt-to-equity ratio of 0.11, a quick ratio of 10.54 and a current ratio of 10.54. The company’s fifty day simple moving average is $1.97 and its 200 day simple moving average is $1.43.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on NMRA shares. Needham & Company LLC increased their target price on Neumora Therapeutics from $6.00 to $8.00 and gave the company a “buy” rating in a report on Tuesday, October 28th. JPMorgan Chase & Co. downgraded Neumora Therapeutics from a “neutral” rating to an “underweight” rating in a research report on Tuesday, September 16th. Mizuho lifted their price objective on Neumora Therapeutics from $4.00 to $5.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 16th. Guggenheim raised shares of Neumora Therapeutics from a “neutral” rating to a “buy” rating and set a $14.00 target price for the company in a research note on Monday, October 27th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Neumora Therapeutics in a research note on Wednesday, October 8th. Four research analysts have rated the stock with a Buy rating, three have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $7.43.

Insider Activity

In other news, major shareholder Arch Venture Partners Xii, Llc acquired 1,915,700 shares of Neumora Therapeutics stock in a transaction dated Monday, October 27th. The shares were acquired at an average cost of $2.61 per share, with a total value of $4,999,977.00. Following the purchase, the insider directly owned 6,046,907 shares of the company’s stock, valued at approximately $15,782,427.27. This trade represents a 46.37% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Kristina Burow bought 1,915,700 shares of the company’s stock in a transaction that occurred on Monday, October 27th. The shares were acquired at an average cost of $2.61 per share, with a total value of $4,999,977.00. Following the transaction, the director owned 6,046,907 shares in the company, valued at approximately $15,782,427.27. This represents a 46.37% increase in their position. The SEC filing for this purchase provides additional information. Corporate insiders own 26.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of NMRA. AQR Capital Management LLC purchased a new stake in Neumora Therapeutics during the first quarter worth approximately $463,000. Marshall Wace LLP purchased a new position in shares of Neumora Therapeutics in the 2nd quarter valued at $183,000. Sei Investments Co. acquired a new position in shares of Neumora Therapeutics during the 2nd quarter valued at $157,000. Bridgeway Capital Management LLC purchased a new stake in Neumora Therapeutics during the 2nd quarter worth $92,000. Finally, Invesco Ltd. increased its holdings in Neumora Therapeutics by 151.1% in the 1st quarter. Invesco Ltd. now owns 123,655 shares of the company’s stock valued at $124,000 after purchasing an additional 74,406 shares in the last quarter. 47.65% of the stock is owned by institutional investors and hedge funds.

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.