Neumora Therapeutics (NASDAQ:NMRA) Cut to Strong Sell at Wall Street Zen

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

Other analysts also recently issued research reports about the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Neumora Therapeutics in a report on Friday, July 17th. Needham & Company LLC lowered their price target on shares of Neumora Therapeutics from $8.00 to $5.00 and set a “buy” rating on the stock in a research report on Tuesday, June 16th. Mizuho dropped their price objective on shares of Neumora Therapeutics from $6.00 to $4.00 and set an “outperform” rating for the company in a research note on Thursday, June 18th. Guggenheim restated a “buy” rating and set a $14.00 price objective on shares of Neumora Therapeutics in a research report on Tuesday, March 31st. Finally, HC Wainwright reduced their target price on Neumora Therapeutics from $18.00 to $7.00 and set a “buy” rating on the stock in a research note on Tuesday, June 16th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Neumora Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $6.57.

Neumora Therapeutics Trading Down 4.5%

NASDAQ:NMRA opened at $1.49 on Friday. The company has a market capitalization of $276.07 million, a PE ratio of -1.12 and a beta of 2.74. The company has a quick ratio of 5.09, a current ratio of 5.09 and a debt-to-equity ratio of 0.75. Neumora Therapeutics has a 52-week low of $0.83 and a 52-week high of $3.65. The stock has a fifty day simple moving average of $1.65 and a 200-day simple moving average of $2.16.

Neumora Therapeutics (NASDAQ:NMRA) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.30) EPS for the quarter, beating analysts’ consensus estimates of ($0.32) by $0.02. On average, equities research analysts expect that Neumora Therapeutics will post -0.93 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Neumora Therapeutics

A number of large investors have recently bought and sold shares of the stock. Siren L.L.C. raised its holdings in shares of Neumora Therapeutics by 35.1% in the 1st quarter. Siren L.L.C. now owns 8,497,822 shares of the company’s stock worth $16,571,000 after purchasing an additional 2,209,039 shares during the period. Perceptive Advisors LLC acquired a new position in shares of Neumora Therapeutics during the first quarter worth $9,953,000. Millennium Management LLC boosted its position in Neumora Therapeutics by 80.1% in the 4th quarter. Millennium Management LLC now owns 3,616,514 shares of the company’s stock valued at $6,474,000 after buying an additional 1,608,266 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in Neumora Therapeutics by 24.2% in the fourth quarter. Renaissance Technologies LLC now owns 1,445,902 shares of the company’s stock valued at $2,588,000 after purchasing an additional 281,926 shares during the last quarter. Finally, Ikarian Capital LLC boosted its stake in shares of Neumora Therapeutics by 10,128.9% during the 4th quarter. Ikarian Capital LLC now owns 1,278,408 shares of the company’s stock valued at $2,288,000 after buying an additional 1,265,910 shares during the last quarter. Hedge funds and other institutional investors own 47.65% of the company’s stock.

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.