Neumora Therapeutics (NASDAQ:NMRA) Stock Rating Lowered by Wall Street Zen

Neumora Therapeutics (NASDAQ:NMRA) was downgraded by investment analysts at Wall Street Zen from a “sell” rating to a “strong sell” rating in a note issued to investors on Saturday, Wall Street Zen reports.

A number of other research firms have also weighed in 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 on the stock in a report on Tuesday, June 16th. Royal Bank Of Canada lowered their target price on shares of Neumora Therapeutics from $7.00 to $5.00 and set an “outperform” rating on the stock in a research note on Monday, July 13th. HC Wainwright reissued a “buy” rating on shares of Neumora Therapeutics in a report on Tuesday, July 28th. Mizuho cut 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. Finally, Weiss Ratings upgraded shares of Neumora Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, September 25th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $6.57.

Neumora Therapeutics Stock Performance

Shares of NMRA opened at $0.48 on Friday. The business’s 50-day moving average price is $1.15 and its 200-day moving average price is $1.60. Neumora Therapeutics has a twelve month low of $0.45 and a twelve month high of $3.65. The stock has a market cap of $89.38 million, a PE ratio of -0.39 and a beta of 2.95. The company has a quick ratio of 4.50, a current ratio of 4.50 and a debt-to-equity ratio of 1.19.

Neumora Therapeutics (NASDAQ:NMRA) last announced its quarterly earnings results on Friday, August 14th. The company reported ($0.23) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.01. On average, equities analysts forecast that Neumora Therapeutics will post -0.83 EPS for the current fiscal year.

Insiders Place Their Bets

In other Neumora Therapeutics news, insider Daljit Singh Aurora sold 91,690 shares of the firm’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $1.50, for a total value of $137,535.00. Following the sale, the insider owned 48,750 shares of the company’s stock, valued at $73,125. This trade represents a 65.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In the last 90 days, insiders sold 453,833 shares of company stock valued at $701,219. 26.94% of the stock is owned by corporate insiders.

Institutional Trading of Neumora Therapeutics

Large investors have recently modified their holdings of the business. Squarepoint Ops LLC raised its stake in Neumora Therapeutics by 132.5% in the second quarter. Squarepoint Ops LLC now owns 363,145 shares of the company’s stock valued at $617,000 after purchasing an additional 206,931 shares in the last quarter. Velan Capital Investment Management LP lifted its position in Neumora Therapeutics by 187.5% during the second quarter. Velan Capital Investment Management LP now owns 230,000 shares of the company’s stock valued at $391,000 after purchasing an additional 150,000 shares during the last quarter. Bank of America Corp DE purchased a new position in Neumora Therapeutics in the 2nd quarter worth approximately $171,000. ADAR1 Capital Management LLC purchased a new position in Neumora Therapeutics in the 2nd quarter worth approximately $357,000. Finally, Canada Pension Plan Investment Board purchased a new position in Neumora Therapeutics in the 2nd quarter worth approximately $337,000. Institutional investors own 47.65% of the company’s stock.

About Neumora Therapeutics

Neumora Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing treatments for disorders of the brain. The company combines neuroscience research with data science, including its proprietary MAP platform, to identify patient subgroups, discover potential drug targets and support the development of therapies for neurological and neuropsychiatric conditions.

Neumora’s lead investigational product is navacaprant, an oral, selective kappa opioid receptor antagonist being evaluated for major depressive disorder.