Neumora Therapeutics (NASDAQ:NMRA) Announces Earnings Results, Beats Estimates By $0.01 EPS

Neumora Therapeutics (NASDAQ:NMRA) announced its quarterly earnings results on Friday. The company reported ($0.23) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.01, FiscalAI reports.

Neumora Therapeutics Stock Performance

Shares of NMRA stock traded down $0.13 during trading hours on Friday, reaching $1.60. The company had a trading volume of 1,165,545 shares, compared to its average volume of 631,906. The company has a debt-to-equity ratio of 0.75, a quick ratio of 5.09 and a current ratio of 5.09. The business has a fifty day moving average price of $1.61 and a 200-day moving average price of $2.12. Neumora Therapeutics has a one year low of $0.83 and a one year high of $3.65.

Wall Street Analyst Weigh In

Several brokerages have issued reports on NMRA. Needham & Company LLC decreased their target price on shares of Neumora Therapeutics from $8.00 to $5.00 and set a “buy” rating for the company in a report on Tuesday, June 16th. Weiss Ratings restated a “sell (d-)” rating on shares of Neumora Therapeutics in a report on Friday, July 17th. Royal Bank Of Canada cut their target price on Neumora Therapeutics from $7.00 to $5.00 and set an “outperform” rating on the stock in a research note on Monday, July 13th. Wall Street Zen lowered Neumora Therapeutics from a “sell” rating to a “strong sell” rating in a report on Saturday, July 25th. Finally, Mizuho lowered their price target on Neumora Therapeutics from $6.00 to $4.00 and set an “outperform” rating on the stock in a report on Thursday, June 18th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $6.57.

Institutional Investors Weigh In On Neumora Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in NMRA. Invesco Ltd. grew its position in Neumora Therapeutics by 151.1% in the 1st quarter. Invesco Ltd. now owns 123,655 shares of the company’s stock worth $124,000 after purchasing an additional 74,406 shares during the period. AQR Capital Management LLC purchased a new position in shares of Neumora Therapeutics in the 1st quarter worth $463,000. Russell Investments Group Ltd. boosted its stake in shares of Neumora Therapeutics by 2,898.1% in the 2nd 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 bought a new stake in shares of Neumora Therapeutics in the second quarter worth $183,000. Finally, Federated Hermes Inc. grew its holdings in shares of Neumora Therapeutics by 10.4% in the second quarter. Federated Hermes Inc. now owns 314,119 shares of the company’s stock worth $230,000 after acquiring an additional 29,543 shares during the period. Hedge funds and other institutional investors own 47.65% of the company’s stock.

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.