Neumora Therapeutics (NASDAQ:NMRA) Shares Up 8.2% – Should You Buy?

Neumora Therapeutics, Inc. (NASDAQ:NMRA)’s stock price was up 8.2% on Tuesday . The company traded as high as $3.51 and last traded at $3.4850. Approximately 258,784 shares changed hands during trading, a decline of 86% from the average daily volume of 1,882,514 shares. The stock had previously closed at $3.22.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on NMRA shares. Stifel Nicolaus upped their target price on shares of Neumora Therapeutics from $2.00 to $3.00 and gave the stock a “hold” rating in a research note on Monday, November 17th. Royal Bank Of Canada raised Neumora Therapeutics from a “sector perform” rating to an “outperform” rating and lifted their target price for the stock from $4.00 to $7.00 in a report on Monday, December 1st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Neumora Therapeutics in a report on Thursday, January 22nd. William Blair raised Neumora Therapeutics from a “market perform” rating to an “outperform” rating in a research report on Tuesday, February 17th. Finally, Leerink Partners began coverage on Neumora Therapeutics in a research report on Monday, January 12th. They issued an “outperform” rating and a $8.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $6.71.

Neumora Therapeutics Price Performance

The firm has a fifty day moving average price of $2.59 and a two-hundred day moving average price of $2.23. The stock has a market capitalization of $564.76 million, a P/E ratio of -2.30 and a beta of 2.49. The company has a debt-to-equity ratio of 0.15, a quick ratio of 6.85 and a current ratio of 6.85.

Insiders Place Their Bets

In other Neumora Therapeutics news, insider Paul L. Berns sold 9,819 shares of the firm’s stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $3.51, for a total value of $34,464.69. Following the transaction, the insider directly owned 7,395,185 shares of the company’s stock, valued at approximately $25,957,099.35. This trade represents a 0.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold a total of 23,387 shares of company stock valued at $82,647 over the last 90 days. 26.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Neumora Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in NMRA. Legacy Private Trust Co. purchased a new position in shares of Neumora Therapeutics in the third quarter worth approximately $25,000. Virtu Financial LLC purchased a new stake in Neumora Therapeutics during the third quarter valued at approximately $31,000. Fred Alger Management LLC bought a new position in Neumora Therapeutics in the fourth quarter worth approximately $40,000. Brookstone Capital Management bought a new position in Neumora Therapeutics in the third quarter worth approximately $42,000. Finally, Public Employees Retirement System of Ohio purchased a new position in shares of Neumora Therapeutics during the 3rd quarter worth $44,000. Hedge funds and other institutional investors own 47.65% of the company’s stock.

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.