Wall Street Zen Upgrades Neumora Therapeutics (NASDAQ:NMRA) to Sell

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

Other equities research analysts also recently issued reports about the stock. Needham & Company LLC reduced their price target on shares of Neumora Therapeutics from $8.00 to $5.00 and set a “buy” rating for the company in a research report on Tuesday, June 16th. HC Wainwright restated a “buy” rating on shares of Neumora Therapeutics in a report on Tuesday, July 28th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Neumora Therapeutics in a research note on Friday, July 17th. Mizuho reduced their price objective on Neumora Therapeutics from $6.00 to $4.00 and set an “outperform” rating for the company in a report on Thursday, June 18th. Finally, 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. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Neumora Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $6.57.

Neumora Therapeutics Stock Performance

Shares of NMRA opened at $1.60 on Friday. 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 company has a 50-day simple moving average of $1.61 and a 200-day simple moving average of $2.12. The company has a market capitalization of $296.45 million, a PE ratio of -1.30 and a beta of 2.75.

Neumora Therapeutics (NASDAQ:NMRA) last released its quarterly earnings data on Friday, August 14th. The company reported ($0.23) EPS for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.01. Equities research analysts predict that Neumora Therapeutics will post -0.93 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Neumora Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. ADAR1 Capital Management LLC purchased a new stake in shares of Neumora Therapeutics in the second quarter valued at about $357,000. Canada Pension Plan Investment Board purchased a new position in shares of Neumora Therapeutics during the 2nd quarter worth approximately $337,000. The Manufacturers Life Insurance Company purchased a new position in shares of Neumora Therapeutics during the 2nd quarter worth approximately $44,000. ICONIQ Capital LLC acquired a new position in shares of Neumora Therapeutics during the 2nd quarter worth approximately $4,350,000. Finally, Northwestern Mutual Wealth Management Co. acquired a new position in shares of Neumora Therapeutics during the 2nd quarter worth approximately $130,000. 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.