Neumora Therapeutics, Inc. (NASDAQ:NMRA) Short Interest Down 13.7% in February

Neumora Therapeutics, Inc. (NASDAQ:NMRA) was the target of a large decrease in short interest in February. As of February 27th, there was short interest totaling 5,216,610 shares, a decrease of 13.7% from the February 12th total of 6,045,735 shares. Currently, 4.3% of the company’s stock are sold short. Based on an average daily volume of 870,409 shares, the days-to-cover ratio is currently 6.0 days. Based on an average daily volume of 870,409 shares, the days-to-cover ratio is currently 6.0 days. Currently, 4.3% of the company’s stock are sold short.

Neumora Therapeutics Stock Performance

Shares of NMRA traded down $0.05 during midday trading on Tuesday, hitting $2.83. 329,627 shares of the stock traded hands, compared to its average volume of 1,791,100. The business’s 50 day moving average price is $2.67 and its two-hundred day moving average price is $2.26. The firm has a market capitalization of $472.03 million, a PE ratio of -1.92 and a beta of 2.46. The company has a debt-to-equity ratio of 0.15, a quick ratio of 6.85 and a current ratio of 6.85. Neumora Therapeutics has a 1-year low of $0.61 and a 1-year high of $3.65.

Wall Street Analysts Forecast Growth

NMRA has been the subject of several research reports. Royal Bank Of Canada upgraded 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 research report on Monday, December 1st. William Blair upgraded Neumora Therapeutics from a “market perform” rating to an “outperform” rating in a research note on Tuesday, February 17th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Neumora Therapeutics in a report on Thursday, January 22nd. Stifel Nicolaus boosted their target price 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. Finally, Leerink Partners started coverage on shares of Neumora Therapeutics in a report on Monday, January 12th. They set an “outperform” rating and a $8.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $6.71.

Insider Activity at Neumora Therapeutics

In related news, insider Paul L. Berns sold 9,819 shares of Neumora Therapeutics 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 completion of the transaction, the insider directly owned 7,395,185 shares in the company, valued at approximately $25,957,099.35. This trade represents a 0.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold a total of 23,387 shares of company stock worth $82,647 over the last quarter. Company insiders own 26.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Invesco Ltd. raised its holdings in shares of Neumora Therapeutics by 151.1% during the first quarter. Invesco Ltd. now owns 123,655 shares of the company’s stock valued at $124,000 after buying an additional 74,406 shares during the last quarter. AQR Capital Management LLC bought a new position in Neumora Therapeutics in the 1st quarter worth approximately $463,000. Savant Capital LLC acquired a new stake in Neumora Therapeutics in the 2nd quarter valued at approximately $52,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Neumora Therapeutics in the 2nd quarter valued at approximately $41,000. Finally, Catalyst Funds Management Pty Ltd bought a new stake in Neumora Therapeutics during the 2nd quarter valued at $29,000. 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.