Neumora Therapeutics (NASDAQ:NMRA) Trading Up 25.3% – Should You Buy?

Neumora Therapeutics, Inc. (NASDAQ:NMRA)’s share price rose 25.3% on Tuesday . The stock traded as high as $3.10 and last traded at $2.9950. Approximately 6,180,080 shares were traded during mid-day trading, an increase of 180% from the average daily volume of 2,204,223 shares. The stock had previously closed at $2.39.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Needham & Company LLC boosted their price objective on shares of Neumora Therapeutics from $6.00 to $8.00 and gave the stock a “buy” rating in a research report on Tuesday, October 28th. Stifel Nicolaus upped their price target on shares of Neumora Therapeutics from $2.00 to $3.00 and gave the company a “hold” rating in a report on Monday, November 17th. Leerink Partners assumed coverage on shares of Neumora Therapeutics in a research note on Monday, January 12th. They set an “outperform” rating and a $8.00 price objective for the company. Royal Bank Of Canada raised Neumora Therapeutics from a “sector perform” rating to an “outperform” rating and upped their target price for the company from $4.00 to $7.00 in a research note on Monday, December 1st. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Neumora Therapeutics in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, two have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $8.13.

Neumora Therapeutics Stock Performance

The firm has a market cap of $499.60 million, a PE ratio of -2.03 and a beta of 3.20. The stock has a 50-day moving average price of $2.00 and a 200 day moving average price of $2.00. The company has a debt-to-equity ratio of 0.15, a current ratio of 6.85 and a quick ratio of 6.85.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. AlphaCore Capital LLC acquired a new position in Neumora Therapeutics during the second quarter worth approximately $248,000. Catalyst Funds Management Pty Ltd purchased a new position in shares of Neumora Therapeutics in the 2nd quarter worth $29,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Neumora Therapeutics during the second quarter valued at about $41,000. Savant Capital LLC acquired a new stake in Neumora Therapeutics during the second quarter worth about $52,000. Finally, Y Intercept Hong Kong Ltd purchased a new position in shares of Neumora Therapeutics in the 2nd quarter worth about $42,000. 47.65% of the stock is currently owned by hedge funds and other institutional investors.

Neumora Therapeutics Company Profile

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.