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

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

Neumora Therapeutics Price Performance

Shares of Neumora Therapeutics stock traded down $0.02 during trading on Friday, reaching $2.56. The company’s stock had a trading volume of 1,212,594 shares, compared to its average volume of 3,310,505. The business has a 50 day moving average price of $1.97 and a 200-day moving average price of $1.43. The company has a market capitalization of $414.59 million, a P/E ratio of -1.74 and a beta of 2.98. The company has a quick ratio of 10.54, a current ratio of 10.54 and a debt-to-equity ratio of 0.11. Neumora Therapeutics has a 12-month low of $0.61 and a 12-month high of $14.09.

Insider Buying and Selling at Neumora Therapeutics

In related news, major shareholder Arch Venture Partners Xii, Llc purchased 1,915,700 shares of the stock in a transaction dated Monday, October 27th. The shares were acquired at an average cost of $2.61 per share, with a total value of $4,999,977.00. Following the purchase, the insider directly owned 6,046,907 shares in the company, valued at $15,782,427.27. This trade represents a 46.37% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Kristina Burow purchased 1,915,700 shares of the business’s stock in a transaction dated Monday, October 27th. The stock was bought at an average price of $2.61 per share, with a total value of $4,999,977.00. Following the acquisition, the director directly owned 6,046,907 shares in the company, valued at approximately $15,782,427.27. This represents a 46.37% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 26.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Neumora Therapeutics

Institutional investors have recently modified their holdings of the company. Invesco Ltd. grew its holdings in shares of Neumora Therapeutics by 151.1% in the 1st quarter. Invesco Ltd. now owns 123,655 shares of the company’s stock worth $124,000 after acquiring an additional 74,406 shares during the period. AQR Capital Management LLC purchased a new stake in Neumora Therapeutics during the first quarter worth $463,000. Russell Investments Group Ltd. grew its holdings in Neumora Therapeutics by 2,898.1% in the second quarter. Russell Investments Group Ltd. now owns 73,812 shares of the company’s stock valued at $56,000 after purchasing an additional 71,350 shares during the last quarter. Marshall Wace LLP acquired a new stake in Neumora Therapeutics in the second quarter valued at $183,000. Finally, Federated Hermes Inc. increased its position in shares of Neumora Therapeutics by 10.4% in the second quarter. Federated Hermes Inc. now owns 314,119 shares of the company’s stock valued at $230,000 after buying an additional 29,543 shares in the last quarter. Hedge funds and other institutional investors own 47.65% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Mizuho increased their price target on shares of Neumora Therapeutics from $4.00 to $5.00 and gave the company an “outperform” rating in a research note on Wednesday, July 16th. Needham & Company LLC upped their price objective on shares of Neumora Therapeutics from $6.00 to $8.00 and gave the company a “buy” rating in a research note on Tuesday, October 28th. Guggenheim raised Neumora Therapeutics from a “neutral” rating to a “buy” rating and set a $14.00 target price for the company in a report on Monday, October 27th. Weiss Ratings reissued a “sell (d-)” rating on shares of Neumora Therapeutics in a research report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. downgraded Neumora Therapeutics from a “neutral” rating to an “underweight” rating in a report on Tuesday, September 16th. Four analysts have rated the stock with a Buy rating, three have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $7.43.

About Neumora Therapeutics

Neumora Therapeutics, Inc, a clinical-stage biopharmaceutical company, engages in developing therapeutic treatments for brain diseases, neuropsychiatric disorders, and neurodegenerative diseases. The company develops navacaprant (NMRA-140), a novel once-daily oral kappa opioid receptor antagonist, which is in phase 3 clinical trials for the treatment of major depressive disorder.