Neumora Therapeutics (NASDAQ:NMRA) Upgraded at Leerink Partnrs

Neumora Therapeutics (NASDAQ:NMRA) was upgraded by analysts at Leerink Partnrs to a “strong-buy” rating in a research note issued to investors on Monday,Zacks.com reports.

A number of other analysts have also recently weighed in on the stock. Royal Bank Of Canada raised shares of Neumora Therapeutics from a “sector perform” rating to an “outperform” rating and increased their price objective for the stock from $4.00 to $7.00 in a report on Monday, December 1st. Weiss Ratings restated a “sell (d-)” rating on shares of Neumora Therapeutics in a research note on Wednesday, October 8th. Stifel Nicolaus raised their price target on shares of Neumora Therapeutics from $2.00 to $3.00 and gave the company a “hold” rating in a research note on Monday, November 17th. JPMorgan Chase & Co. cut Neumora Therapeutics from a “neutral” rating to an “underweight” rating in a report on Tuesday, September 16th. Finally, Mizuho set a $6.00 price objective on Neumora Therapeutics in a report on Monday, January 5th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, two have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $8.13.

Neumora Therapeutics Stock Performance

NASDAQ:NMRA opened at $2.22 on Monday. Neumora Therapeutics has a 12-month low of $0.61 and a 12-month high of $3.25. The firm has a market capitalization of $370.94 million, a P/E ratio of -1.51 and a beta of 3.22. The company has a debt-to-equity ratio of 0.15, a current ratio of 6.85 and a quick ratio of 6.85. The business has a 50 day simple moving average of $2.19 and a 200 day simple moving average of $1.89.

Neumora Therapeutics (NASDAQ:NMRA) last issued 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). Equities research analysts predict that Neumora Therapeutics will post -1.61 EPS for the current year.

Insiders Place Their Bets

In related news, Director Kristina Burow acquired 1,915,700 shares of the stock in a transaction that occurred on Monday, October 27th. The shares were acquired at an average price of $2.61 per share, for a total transaction of $4,999,977.00. Following the completion of the purchase, the director directly owned 6,046,907 shares of the company’s stock, valued at $15,782,427.27. The trade was a 46.37% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Daljit Singh Aurora sold 114,703 shares of the business’s stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $2.68, for a total value of $307,404.04. The disclosure for this sale is available in the SEC filing. 26.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Neumora Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Invesco Ltd. raised its stake in shares of 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 buying an additional 74,406 shares in the last quarter. AQR Capital Management LLC bought a new position in Neumora Therapeutics during the first quarter valued at about $463,000. Vanguard Personalized Indexing Management LLC boosted its stake in Neumora Therapeutics by 130.3% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 58,196 shares of the company’s stock valued at $43,000 after buying an additional 32,922 shares in the last quarter. CWM LLC grew its holdings in Neumora Therapeutics by 41.8% during the second quarter. CWM LLC now owns 35,750 shares of the company’s stock worth $26,000 after acquiring an additional 10,537 shares during the period. Finally, Y Intercept Hong Kong Ltd bought a new stake in Neumora Therapeutics in the second quarter worth about $42,000. 47.65% of the stock is owned by institutional investors.

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.