Neumora Therapeutics (NASDAQ:NMRA) Hits New 52-Week High on Analyst Upgrade

Neumora Therapeutics, Inc. (NASDAQ:NMRA) shares hit a new 52-week high on Wednesday after William Blair upgraded the stock from a market perform rating to an outperform rating. The company traded as high as $3.64 and last traded at $3.54, with a volume of 2286850 shares trading hands. The stock had previously closed at $3.20.

Other analysts have also recently issued reports about the company. Guggenheim raised Neumora Therapeutics from a “neutral” rating to a “buy” rating and set a $14.00 price objective on the stock in a research report on Monday, October 27th. Mizuho set a $6.00 price target on Neumora Therapeutics in a research report on Monday, January 5th. Stifel Nicolaus increased their price objective on Neumora Therapeutics from $2.00 to $3.00 and gave the stock a “hold” rating in a report on Monday, November 17th. Royal Bank Of Canada upgraded shares of Neumora Therapeutics from a “sector perform” rating to an “outperform” rating and boosted their target price for the company from $4.00 to $7.00 in a report on Monday, December 1st. Finally, Leerink Partners started coverage on shares of Neumora Therapeutics in a research note on Monday, January 12th. They issued an “outperform” rating and a $8.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, Neumora Therapeutics currently has a consensus rating of “Hold” and an average price target of $8.13.

Hedge Funds Weigh In On Neumora Therapeutics

Hedge funds have recently added to or reduced their stakes in the company. Siren L.L.C. boosted its stake in Neumora Therapeutics by 44.3% during the 4th quarter. Siren L.L.C. now owns 6,288,783 shares of the company’s stock valued at $11,257,000 after purchasing an additional 1,930,500 shares during the last quarter. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Neumora Therapeutics during the third quarter valued at $1,512,000. Millennium Management LLC increased its holdings in Neumora Therapeutics by 63.1% in 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. Marshall Wace LLP purchased a new position in Neumora Therapeutics in the 4th quarter worth about $1,045,000. Finally, Goldman Sachs Group Inc. lifted its stake in Neumora Therapeutics by 127.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 858,502 shares of the company’s stock valued at $1,537,000 after acquiring an additional 481,128 shares during the period. 47.65% of the stock is currently owned by hedge funds and other institutional investors.

Neumora Therapeutics Price Performance

The stock has a market capitalization of $591.50 million, a P/E ratio of -2.41 and a beta of 3.20. The business’s 50 day moving average price is $2.12 and its 200 day moving average price is $2.04. The company has a debt-to-equity ratio of 0.15, a current ratio of 6.85 and a quick ratio of 6.85.

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.