Brokerages Set Neumora Therapeutics, Inc. (NASDAQ:NMRA) Price Target at $8.13

Shares of Neumora Therapeutics, Inc. (NASDAQ:NMRA) have been given an average rating of “Hold” by the eleven analysts that are currently covering the stock, Marketbeat reports. Three research analysts have rated the stock with a sell rating, two have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $8.1250.

A number of analysts have weighed in on the company. Guggenheim raised Neumora Therapeutics from a “neutral” rating to a “buy” rating and set a $14.00 price objective for the company in a research report on Monday, October 27th. Needham & Company LLC increased their price target on Neumora Therapeutics from $6.00 to $8.00 and gave the stock a “buy” rating in a report on Tuesday, October 28th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Neumora Therapeutics in a research report on Thursday, January 22nd. Royal Bank Of Canada upgraded shares of Neumora Therapeutics from a “sector perform” rating to an “outperform” rating and upped their price objective for the stock from $4.00 to $7.00 in a research report on Monday, December 1st. Finally, Leerink Partners initiated coverage on shares of Neumora Therapeutics in a report on Monday, January 12th. They issued an “outperform” rating and a $8.00 target price on the stock.

Neumora Therapeutics Trading Up 8.2%

NASDAQ NMRA opened at $2.12 on Friday. The firm’s fifty day moving average is $2.00 and its two-hundred day moving average is $1.99. Neumora Therapeutics has a one year low of $0.61 and a one year high of $3.25. The company has a debt-to-equity ratio of 0.15, a quick ratio of 6.85 and a current ratio of 6.85. The firm has a market cap of $354.23 million, a PE ratio of -1.44 and a beta of 3.20.

Neumora Therapeutics (NASDAQ:NMRA) last announced 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). Analysts expect that Neumora Therapeutics will post -1.61 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Daljit Singh Aurora sold 114,703 shares of the stock in a transaction that occurred on 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 Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 26.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Millennium Management LLC raised its position in Neumora Therapeutics by 63.1% in 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 in the last quarter. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Neumora Therapeutics during the 3rd quarter worth $1,512,000. AlphaCore Capital LLC grew its stake in shares of Neumora Therapeutics by 89.1% during the 3rd quarter. AlphaCore Capital LLC now owns 638,784 shares of the company’s stock worth $1,163,000 after purchasing an additional 301,017 shares during the period. GSA Capital Partners LLP increased its holdings in shares of Neumora Therapeutics by 392.6% in the 4th quarter. GSA Capital Partners LLP now owns 534,044 shares of the company’s stock valued at $956,000 after purchasing an additional 425,633 shares in the last quarter. Finally, AQR Capital Management LLC acquired a new stake in shares of Neumora Therapeutics in the first quarter valued at about $463,000. Institutional investors and hedge funds 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.