Neumora Therapeutics (NASDAQ:NMRA) Issues Quarterly Earnings Results, Misses Estimates By $0.01 EPS

Neumora Therapeutics (NASDAQ:NMRA) released its earnings results on Monday. The company reported ($0.35) earnings per share for the quarter, missing the consensus estimate of ($0.34) by ($0.01), FiscalAI reports.

Neumora Therapeutics Stock Performance

Shares of NMRA stock opened at $2.33 on Monday. The company’s fifty day simple moving average is $2.74 and its 200-day simple moving average is $2.32. The company has a current ratio of 6.85, a quick ratio of 6.85 and a debt-to-equity ratio of 0.15. Neumora Therapeutics has a 52 week low of $0.61 and a 52 week high of $3.65. The company has a market cap of $389.32 million, a PE ratio of -1.59 and a beta of 2.46.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Neumora Therapeutics in a report on Thursday, January 22nd. Royal Bank Of Canada raised shares of Neumora Therapeutics from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from $4.00 to $7.00 in a research report on Monday, December 1st. Mizuho set a $6.00 price target on shares of Neumora Therapeutics in a report on Monday, January 5th. William Blair raised shares of Neumora Therapeutics from a “market perform” rating to an “outperform” rating in a research note on Tuesday, February 17th. Finally, Leerink Partners started coverage on Neumora Therapeutics in a research report on Monday, January 12th. They issued an “outperform” rating and a $8.00 target price on the stock. One 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 stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $6.71.

Insider Activity at Neumora Therapeutics

In other Neumora Therapeutics news, insider Paul L. Berns sold 9,819 shares of the company’s stock in a transaction that occurred on 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 owned 7,395,185 shares in the company, valued at $25,957,099.35. This represents a 0.13% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last quarter, insiders sold 23,387 shares of company stock worth $82,647. Company insiders own 26.80% of the company’s stock.

Hedge Funds Weigh In On Neumora Therapeutics

Institutional investors have recently added to or reduced their stakes in the company. Hsbc Holdings PLC purchased a new position in Neumora Therapeutics in the 4th quarter valued at about $27,000. Virtu Financial LLC increased its position in shares of Neumora Therapeutics by 465.7% during the fourth quarter. Virtu Financial LLC now owns 97,408 shares of the company’s stock worth $174,000 after acquiring an additional 80,189 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Neumora Therapeutics by 23.8% in the fourth quarter. Invesco Ltd. now owns 227,594 shares of the company’s stock worth $407,000 after acquiring an additional 43,795 shares in the last quarter. XTX Topco Ltd acquired a new position in shares of Neumora Therapeutics in the fourth quarter worth about $204,000. Finally, Ikarian Capital LLC boosted its holdings in Neumora Therapeutics by 10,128.9% in the fourth quarter. Ikarian Capital LLC now owns 1,278,408 shares of the company’s stock valued at $2,288,000 after purchasing an additional 1,265,910 shares during the last quarter. Institutional investors and hedge funds 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.