Neumora Therapeutics (NASDAQ:NMRA) Shares Gap Up on Analyst Upgrade

Neumora Therapeutics, Inc. (NASDAQ:NMRA)’s share price gapped up prior to trading on Tuesday after William Blair upgraded the stock from a market perform rating to an outperform rating. The stock had previously closed at $3.20, but opened at $3.35. Neumora Therapeutics shares last traded at $3.3050, with a volume of 437,762 shares trading hands.

NMRA has been the subject of several other research reports. Stifel Nicolaus boosted their price objective on Neumora Therapeutics from $2.00 to $3.00 and gave the company a “hold” rating in a report on Monday, November 17th. Mizuho set a $6.00 price objective on shares of Neumora Therapeutics in a report on Monday, January 5th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Neumora Therapeutics in a research note on Thursday, January 22nd. Guggenheim raised shares of Neumora Therapeutics from a “neutral” rating to a “buy” rating and set a $14.00 target price for the company in a research report on Monday, October 27th. Finally, Needham & Company LLC raised their price target on shares of Neumora Therapeutics from $6.00 to $8.00 and gave the company a “buy” rating in a research report on Tuesday, October 28th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $8.13.

Institutional Trading of Neumora Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the business. Siren L.L.C. boosted its position in Neumora Therapeutics by 44.3% in the fourth quarter. Siren L.L.C. now owns 6,288,783 shares of the company’s stock worth $11,257,000 after purchasing an additional 1,930,500 shares during the last quarter. Millennium Management LLC grew its position in shares of Neumora Therapeutics by 80.1% during the 4th quarter. Millennium Management LLC now owns 3,616,514 shares of the company’s stock valued at $6,474,000 after acquiring an additional 1,608,266 shares during the period. Renaissance Technologies LLC increased its stake in shares of Neumora Therapeutics by 24.2% during the 4th quarter. Renaissance Technologies LLC now owns 1,445,902 shares of the company’s stock worth $2,588,000 after purchasing an additional 281,926 shares during the last quarter. Ikarian Capital LLC raised its holdings in shares of Neumora Therapeutics by 10,128.9% in the 4th quarter. Ikarian Capital LLC now owns 1,278,408 shares of the company’s stock worth $2,288,000 after purchasing an additional 1,265,910 shares during the period. Finally, Geode Capital Management LLC lifted its stake in Neumora Therapeutics by 3.6% in the fourth quarter. Geode Capital Management LLC now owns 1,003,746 shares of the company’s stock valued at $1,797,000 after purchasing an additional 34,818 shares during the last quarter. 47.65% of the stock is owned by hedge funds and other institutional investors.

Neumora Therapeutics Trading Up 1.4%

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 firm has a fifty day simple moving average of $2.15 and a two-hundred day simple moving average of $2.05. The firm has a market capitalization of $599.85 million, a P/E ratio of -2.44 and a beta of 3.20.

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.