Neumora Therapeutics (NASDAQ:NMRA) Stock Rating Raised to “Sell” at Wall Street Zen

Wall Street Zen upgraded shares of Neumora Therapeutics (NASDAQ:NMRA) from a strong sell rating to a sell rating in a research note issued to investors on Saturday,Wall Street Zen reports.

Several other equities analysts have also recently issued reports on NMRA. Royal Bank Of Canada reduced their price objective on Neumora Therapeutics from $7.00 to $5.00 and set an “outperform” rating for the company in a report on Monday, July 13th. HC Wainwright reaffirmed a “buy” rating on shares of Neumora Therapeutics in a research note on Tuesday, July 28th. Finally, Weiss Ratings upgraded shares of Neumora Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, September 25th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $6.57.

Neumora Therapeutics Price Performance

NMRA stock opened at $0.50 on Friday. The firm has a 50 day moving average of $0.69 and a 200-day moving average of $1.74. Neumora Therapeutics has a 12-month low of $0.32 and a 12-month high of $3.65. The company has a current ratio of 4.50, a quick ratio of 4.50 and a debt-to-equity ratio of 1.19. The company has a market cap of $94.57 million, a price-to-earnings ratio of -0.41 and a beta of 3.12.

Neumora Therapeutics (NASDAQ:NMRA) last announced its quarterly earnings results on Friday, August 14th. The company reported ($0.23) EPS for the quarter, topping the consensus estimate of ($0.24) by $0.01. As a group, equities analysts expect that Neumora Therapeutics will post -0.84 EPS for the current fiscal year.

Insider Transactions at Neumora Therapeutics

In other Neumora Therapeutics news, insider Daljit Singh Aurora sold 21,055 shares of the stock in a transaction on Friday, August 21st. The stock was sold at an average price of $1.60, for a total transaction of $33,688.00. Following the sale, the insider owned 48,750 shares in the company, valued at approximately $78,000. This represents a 30.16% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last 90 days, insiders sold 453,833 shares of company stock valued at $701,219. 26.94% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Neumora Therapeutics

Institutional investors have recently made changes to their positions in the stock. BlackRock Inc. acquired a new position in Neumora Therapeutics in the 2nd quarter valued at about $13,246,000. Johnson & Johnson purchased a new position in Neumora Therapeutics in the 2nd quarter valued at about $3,144,057. Perceptive Advisors LLC purchased a new position in Neumora Therapeutics in the 1st quarter valued at about $9,953,000. ICONIQ Capital LLC purchased a new position in Neumora Therapeutics in the 2nd quarter valued at about $4,350,000. Finally, Siren L.L.C. boosted its stake in shares of Neumora Therapeutics by 35.1% during 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 last quarter. 47.65% of the stock is owned by institutional investors and hedge funds.

About Neumora Therapeutics

Neumora Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing treatments for brain diseases. The company combines neuroscience, data science and machine-learning technologies to identify disease mechanisms, discover potential therapies and develop more targeted medicines for patients with neurological and neuropsychiatric disorders.

Neumora’s pipeline has included navacaprant, also known as NMRA-140, an investigational selective kappa opioid receptor antagonist being studied for major depressive disorder and related symptoms such as anhedonia, or the loss of interest and pleasure.