Short Interest in Neumora Therapeutics, Inc. (NASDAQ:NMRA) Drops By 20.2%

Neumora Therapeutics, Inc. (NASDAQ:NMRA) was the recipient of a significant decline in short interest in January. As of January 15th, there was short interest totaling 5,986,621 shares, a decline of 20.2% from the December 31st total of 7,502,647 shares. Approximately 4.9% of the company’s stock are short sold. Based on an average trading volume of 3,853,615 shares, the days-to-cover ratio is currently 1.6 days. Based on an average trading volume of 3,853,615 shares, the days-to-cover ratio is currently 1.6 days. Approximately 4.9% of the company’s stock are short sold.

Neumora Therapeutics Trading Down 2.9%

NMRA traded down $0.06 on Friday, hitting $1.99. The company had a trading volume of 589,624 shares, compared to its average volume of 2,366,012. The company’s fifty day moving average price is $2.02 and its 200 day moving average price is $1.98. 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. The firm has a market cap of $332.51 million, a P/E ratio of -1.35 and a beta of 3.22.

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

Insider Buying and Selling

In related news, insider Daljit Singh Aurora sold 114,703 shares of the firm’s stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $2.68, for a total transaction of $307,404.04. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 26.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of NMRA. Legacy Private Trust Co. increased its holdings in shares of Neumora Therapeutics by 35.7% in the 4th quarter. Legacy Private Trust Co. now owns 19,000 shares of the company’s stock valued at $34,000 after acquiring an additional 5,000 shares during the last quarter. Jacobs Levy Equity Management Inc. purchased a new position in Neumora Therapeutics in the 3rd quarter valued at $1,512,000. Public Employees Retirement System of Ohio acquired a new position in shares of Neumora Therapeutics during the third quarter worth about $44,000. Millennium Management LLC raised its stake in shares of Neumora Therapeutics by 63.1% during the 3rd quarter. Millennium Management LLC now owns 2,008,248 shares of the company’s stock worth $3,655,000 after buying an additional 776,856 shares in the last quarter. Finally, Bank of America Corp DE raised its position in Neumora Therapeutics by 92.5% in the third quarter. Bank of America Corp DE now owns 137,429 shares of the company’s stock worth $250,000 after acquiring an additional 66,049 shares in the last quarter. 47.65% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on NMRA shares. Needham & Company LLC raised their price target on shares of Neumora Therapeutics from $6.00 to $8.00 and gave the stock a “buy” rating in a report on Tuesday, October 28th. Mizuho set a $6.00 price target on Neumora Therapeutics in a research report on Monday, January 5th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Neumora Therapeutics in a research report on Thursday, January 22nd. Stifel Nicolaus upped their target price on Neumora Therapeutics from $2.00 to $3.00 and gave the stock a “hold” rating in a research note on Monday, November 17th. Finally, Royal Bank Of Canada raised shares of Neumora Therapeutics from a “sector perform” rating to an “outperform” rating and raised their price target for the company from $4.00 to $7.00 in a research note on Monday, December 1st. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, two have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $8.13.

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.