Neumora Therapeutics (NASDAQ:NMRA) Stock Rating Cut to Strong Sell at Wall Street Zen

Wall Street Zen downgraded shares of Neumora Therapeutics (NASDAQ:NMRA) from a sell rating to a strong sell rating in a report issued on Saturday morning,Wall Street Zen reports.

Other equities analysts have also issued research reports about the stock. Mizuho dropped their price objective on shares of Neumora Therapeutics from $6.00 to $4.00 and set an “outperform” rating on the stock in a report on Thursday, June 18th. Needham & Company LLC dropped their price target on Neumora Therapeutics from $8.00 to $5.00 and set a “buy” rating on the stock in a research note on Tuesday, June 16th. HC Wainwright reiterated a “buy” rating on shares of Neumora Therapeutics in a report on Tuesday, July 28th. Weiss Ratings raised Neumora Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, September 25th. Finally, Royal Bank Of Canada decreased their price objective on Neumora Therapeutics from $7.00 to $5.00 and set an “outperform” rating for the company in a report on Monday, July 13th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $6.57.

Neumora Therapeutics Stock Performance

Shares of NMRA stock opened at $0.48 on Friday. The company has a market cap of $89.38 million, a price-to-earnings ratio of -0.39 and a beta of 2.95. Neumora Therapeutics has a 52 week low of $0.45 and a 52 week high of $3.65. The company has a quick ratio of 4.50, a current ratio of 4.50 and a debt-to-equity ratio of 1.19. The firm has a 50 day moving average of $1.15 and a 200-day moving average of $1.61.

Neumora Therapeutics (NASDAQ:NMRA) last released its earnings results on Friday, August 14th. The company reported ($0.23) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.01. On average, equities analysts forecast that Neumora Therapeutics will post -0.83 earnings per share for the current year.

Insider Buying and Selling

In other Neumora Therapeutics news, insider Daljit Singh Aurora sold 21,055 shares of the firm’s stock in a transaction on Friday, August 21st. The stock was sold at an average price of $1.60, for a total transaction of $33,688.00. Following the transaction, the insider directly owned 48,750 shares in the company, valued at approximately $78,000. This trade represents a 30.16% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last ninety days, insiders sold 453,833 shares of company stock valued at $701,219. Corporate insiders own 26.94% of the company’s stock.

Institutional Trading of Neumora Therapeutics

Several institutional investors have recently made changes to their positions in the company. HBK Sorce Advisory LLC purchased a new position in Neumora Therapeutics in the second quarter worth $26,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Neumora Therapeutics during the 2nd quarter valued at $44,000. AMG National Trust Bank bought a new stake in shares of Neumora Therapeutics during the 2nd quarter worth $74,000. SkyOak Wealth LLC raised its stake in shares of Neumora Therapeutics by 50.0% during the 1st quarter. SkyOak Wealth LLC now owns 150,000 shares of the company’s stock worth $292,000 after purchasing an additional 50,000 shares during the period. Finally, Bank of America Corp DE boosted its holdings in shares of Neumora Therapeutics by 72.8% in the 1st quarter. Bank of America Corp DE now owns 176,927 shares of the company’s stock worth $345,000 after buying an additional 74,518 shares during the last quarter. Institutional investors own 47.65% of the company’s stock.

About Neumora Therapeutics

Neumora Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing treatments for disorders of the brain. The company combines neuroscience research with data science, including its proprietary MAP platform, to identify patient subgroups, discover potential drug targets and support the development of therapies for neurological and neuropsychiatric conditions.

Neumora’s lead investigational product is navacaprant, an oral, selective kappa opioid receptor antagonist being evaluated for major depressive disorder.