Neumora Therapeutics (NASDAQ:NMRA) Cut to “Strong Sell” at Wall Street Zen

Wall Street Zen lowered shares of Neumora Therapeutics (NASDAQ:NMRAFree Report) from a sell rating to a strong sell rating in a research note issued to investors on Saturday morning.

Other equities analysts also recently issued reports about the stock. Guggenheim reaffirmed a “buy” rating and issued a $14.00 target price on shares of Neumora Therapeutics in a research note on Tuesday, March 31st. Needham & Company LLC decreased 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 note on Tuesday, June 16th. Mizuho lowered their price target on shares of Neumora Therapeutics from $6.00 to $4.00 and set an “outperform” rating for the company in a report on Thursday, June 18th. Weiss Ratings reissued a “sell (d-)” rating on shares of Neumora Therapeutics in a report on Friday, July 17th. Finally, Royal Bank Of Canada dropped their price objective on shares of Neumora Therapeutics from $7.00 to $5.00 and set an “outperform” rating for the company in a research 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 given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $6.57.

Read Our Latest Research Report on Neumora Therapeutics

Neumora Therapeutics Stock Performance

Shares of NASDAQ:NMRA opened at $1.66 on Friday. The business has a fifty day moving average of $1.65 and a 200-day moving average of $2.17. 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 twelve month low of $0.83 and a twelve month high of $3.65. The firm has a market cap of $307.56 million, a PE ratio of -1.25 and a beta of 2.74.

Neumora Therapeutics (NASDAQ:NMRAGet Free Report) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.32) by $0.02. On average, equities research analysts predict that Neumora Therapeutics will post -0.93 EPS for the current fiscal year.

Institutional Trading of Neumora Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Invesco Ltd. boosted its stake in shares of 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 during the last quarter. AQR Capital Management LLC bought a new stake in shares of Neumora Therapeutics during the first quarter worth approximately $463,000. Russell Investments Group Ltd. raised its stake in shares of Neumora Therapeutics by 2,898.1% during the second quarter. Russell Investments Group Ltd. now owns 73,812 shares of the company’s stock worth $56,000 after buying an additional 71,350 shares during the last quarter. Marshall Wace LLP acquired a new position in Neumora Therapeutics in the second quarter valued at approximately $183,000. Finally, Federated Hermes Inc. lifted its holdings in Neumora Therapeutics by 10.4% in the second quarter. Federated Hermes Inc. now owns 314,119 shares of the company’s stock valued at $230,000 after buying an additional 29,543 shares during the period. 47.65% of the stock is owned by institutional investors.

Neumora Therapeutics Company Profile

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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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Analyst Recommendations for Neumora Therapeutics (NASDAQ:NMRA)

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