Neumora Therapeutics, Inc. (NASDAQ:NMRA) Given Consensus Rating of “Moderate Buy” by Brokerages

Neumora Therapeutics, Inc. (NASDAQ:NMRA) has been assigned an average recommendation of “Moderate Buy” from the ten research firms that are covering the firm, Marketbeat reports. Two analysts have rated the stock with a sell rating, one has assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $6.8571.

NMRA has been the subject of a number of research analyst reports. Guggenheim reiterated a “buy” rating and set a $14.00 price objective on shares of Neumora Therapeutics in a research report on Tuesday, March 31st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Neumora Therapeutics in a research note on Tuesday, April 21st. Needham & Company LLC lowered their price target on shares of Neumora Therapeutics from $8.00 to $5.00 and set a “buy” rating for the company in a report on Tuesday, June 16th. HC Wainwright cut their price objective on Neumora Therapeutics from $18.00 to $7.00 and set a “buy” rating on the stock in a report on Tuesday, June 16th. Finally, Mizuho reduced their price objective on Neumora Therapeutics from $6.00 to $4.00 and set an “outperform” rating on the stock in a research report on Thursday, June 18th.

Neumora Therapeutics Price Performance

Neumora Therapeutics stock opened at $1.68 on Monday. The stock has a fifty day moving average of $1.74 and a 200-day moving average of $2.18. The stock has a market capitalization of $311.28 million, a P/E ratio of -1.26 and a beta of 2.74. The company has a debt-to-equity ratio of 0.75, a quick ratio of 5.09 and a current ratio of 5.09. Neumora Therapeutics has a 52 week low of $0.83 and a 52 week high of $3.65.

Neumora Therapeutics (NASDAQ:NMRA) last released its earnings results on Thursday, May 7th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.32) by $0.02. On average, sell-side analysts expect that Neumora Therapeutics will post -0.93 earnings per share for the current fiscal year.

Institutional Trading of Neumora Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in NMRA. Invesco Ltd. raised 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 buying an additional 74,406 shares during the last quarter. AQR Capital Management LLC bought a new stake in Neumora Therapeutics during the 1st quarter worth approximately $463,000. Russell Investments Group Ltd. grew its holdings in Neumora Therapeutics by 2,898.1% during the 2nd quarter. Russell Investments Group Ltd. now owns 73,812 shares of the company’s stock worth $56,000 after acquiring an additional 71,350 shares during the last quarter. Marshall Wace LLP acquired a new position in Neumora Therapeutics in the 2nd quarter valued at approximately $183,000. Finally, Federated Hermes Inc. increased its position in Neumora Therapeutics by 10.4% in the 2nd quarter. Federated Hermes Inc. now owns 314,119 shares of the company’s stock valued at $230,000 after acquiring an additional 29,543 shares during the period. 47.65% of the stock is currently owned by institutional investors.

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.