Neumora Therapeutics (NASDAQ:NMRA) Stock Price Up 8.2% – What’s Next?

Neumora Therapeutics, Inc. (NASDAQ:NMRA) shares shot up 8.2% during trading on Tuesday . The stock traded as high as $3.51 and last traded at $3.4850. 258,784 shares were traded during mid-day trading, a decline of 86% from the average session volume of 1,882,514 shares. The stock had previously closed at $3.22.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Stifel Nicolaus boosted their price target on Neumora Therapeutics from $2.00 to $3.00 and gave the stock a “hold” rating in a research report on Monday, November 17th. Royal Bank Of Canada upgraded shares of Neumora Therapeutics from a “sector perform” rating to an “outperform” rating and upped their price objective for the company from $4.00 to $7.00 in a report on Monday, December 1st. Mizuho set a $6.00 price target on Neumora Therapeutics in a report on Monday, January 5th. Weiss Ratings reissued a “sell (d-)” rating on shares of Neumora Therapeutics in a report on Thursday, January 22nd. Finally, William Blair raised shares of Neumora Therapeutics from a “market perform” rating to an “outperform” rating in a research report on Tuesday, February 17th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Neumora Therapeutics has a consensus rating of “Hold” and an average target price of $6.71.

Neumora Therapeutics Price Performance

The business has a 50-day moving average of $2.53 and a two-hundred day moving average of $2.21. The firm has a market cap of $572.95 million, a P/E ratio of -2.33 and a beta of 2.46. The company has a current ratio of 6.85, a quick ratio of 6.85 and a debt-to-equity ratio of 0.15.

Insider Activity

In other news, insider Paul L. Berns sold 9,819 shares of the firm’s stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $3.51, for a total transaction of $34,464.69. Following the completion of the transaction, the insider owned 7,395,185 shares of the company’s stock, 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 23,387 shares of company stock worth $82,647 over the last ninety days. 26.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Siren L.L.C. boosted its position in Neumora Therapeutics by 44.3% during the fourth quarter. Siren L.L.C. now owns 6,288,783 shares of the company’s stock valued at $11,257,000 after acquiring an additional 1,930,500 shares during the last quarter. Millennium Management LLC increased its holdings in shares of Neumora Therapeutics by 80.1% during the fourth quarter. Millennium Management LLC now owns 3,616,514 shares of the company’s stock valued at $6,474,000 after acquiring an additional 1,608,266 shares in the last quarter. Renaissance Technologies LLC increased its stake in Neumora Therapeutics by 24.2% during the 4th quarter. Renaissance Technologies LLC now owns 1,445,902 shares of the company’s stock valued at $2,588,000 after purchasing an additional 281,926 shares in the last quarter. Ikarian Capital LLC raised its holdings in shares of Neumora Therapeutics by 10,128.9% in the 4th quarter. Ikarian Capital LLC now owns 1,278,408 shares of the company’s stock worth $2,288,000 after acquiring an additional 1,265,910 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Neumora Therapeutics by 3.6% in the fourth quarter. Geode Capital Management LLC now owns 1,003,746 shares of the company’s stock worth $1,797,000 after purchasing an additional 34,818 shares during the last quarter. 47.65% of the stock is owned by institutional investors.

Neumora Therapeutics Company Profile

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.