Neumora Therapeutics (NASDAQ:NMRA) Upgraded at Leerink Partnrs

Leerink Partnrs upgraded shares of Neumora Therapeutics (NASDAQ:NMRA) to a strong-buy rating in a research note published on Monday morning,Zacks.com reports.

A number of other analysts have also recently commented on NMRA. 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 research report on Monday, November 17th. Mizuho set a $6.00 price objective on Neumora Therapeutics in a research report on Monday, January 5th. JPMorgan Chase & Co. downgraded shares of Neumora Therapeutics from a “neutral” rating to an “underweight” rating in a research note on Tuesday, September 16th. Needham & Company LLC raised their price target on shares of Neumora Therapeutics from $6.00 to $8.00 and gave the company a “buy” rating in a report on Tuesday, October 28th. Finally, Guggenheim raised Neumora Therapeutics from a “neutral” rating to a “buy” rating and set a $14.00 target price on the stock in a research note on Monday, October 27th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, two have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, Neumora Therapeutics presently has an average rating of “Hold” and an average price target of $8.13.

Neumora Therapeutics Stock Performance

NASDAQ NMRA opened at $2.15 on Monday. The firm’s 50 day simple moving average is $2.16 and its 200 day simple moving average is $1.90. The firm has a market capitalization of $359.24 million, a price-to-earnings ratio of -1.46 and a beta of 3.22. The company has a current ratio of 6.85, a quick ratio of 6.85 and a debt-to-equity ratio of 0.15. Neumora Therapeutics has a 1 year low of $0.61 and a 1 year high of $3.25.

Neumora Therapeutics (NASDAQ:NMRA) last announced its quarterly earnings data on Thursday, November 6th. The company reported ($0.35) EPS for the quarter, missing the consensus estimate of ($0.34) by ($0.01). As a group, research analysts expect that Neumora Therapeutics will post -1.61 earnings per share for the current fiscal year.

Insider Activity

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

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Millennium Management LLC increased its position in shares of Neumora Therapeutics by 63.1% during the third quarter. Millennium Management LLC now owns 2,008,248 shares of the company’s stock worth $3,655,000 after acquiring an additional 776,856 shares during the period. Jacobs Levy Equity Management Inc. purchased a new position in Neumora Therapeutics during the 3rd quarter valued at about $1,512,000. AlphaCore Capital LLC increased its position in Neumora Therapeutics by 89.1% during the 3rd quarter. AlphaCore Capital LLC now owns 638,784 shares of the company’s stock valued at $1,163,000 after purchasing an additional 301,017 shares during the period. AQR Capital Management LLC bought a new stake in shares of Neumora Therapeutics in the 1st quarter valued at about $463,000. Finally, Cerity Partners LLC lifted its position in shares of Neumora Therapeutics by 7.2% in the 2nd quarter. Cerity Partners LLC now owns 324,219 shares of the company’s stock worth $238,000 after purchasing an additional 21,714 shares during the period. Hedge funds and other institutional investors own 47.65% of the company’s stock.

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.