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

Neumora Therapeutics (NASDAQ:NMRA) issued its quarterly earnings results on Friday. The company reported ($0.23) EPS for the quarter, beating the consensus estimate of ($0.24) by $0.01, FiscalAI reports.

Neumora Therapeutics Trading Down 7.5%

Neumora Therapeutics stock opened at $1.60 on Friday. The firm has a market cap of $296.45 million, a PE ratio of -1.30 and a beta of 2.75. Neumora Therapeutics has a 12 month low of $0.83 and a 12 month high of $3.65. The stock’s 50 day simple moving average is $1.61 and its two-hundred day simple moving average is $2.12. The company has a current ratio of 5.09, a quick ratio of 5.09 and a debt-to-equity ratio of 0.75.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Neumora Therapeutics in a report on Friday, July 17th. Needham & Company LLC decreased their price target on Neumora Therapeutics from $8.00 to $5.00 and set a “buy” rating for the company in a research note on Tuesday, June 16th. Royal Bank Of Canada lowered their price target on Neumora Therapeutics from $7.00 to $5.00 and set an “outperform” rating for the company in a report on Monday, July 13th. Wall Street Zen upgraded shares of Neumora Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Saturday. Finally, HC Wainwright reissued a “buy” rating on shares of Neumora Therapeutics in a report on Tuesday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $6.57.

Institutional Investors Weigh In On Neumora Therapeutics

A number of institutional investors have recently modified their holdings of NMRA. ADAR1 Capital Management LLC acquired a new position in shares of Neumora Therapeutics during the 4th quarter worth about $91,000. Jefferies Financial Group Inc. acquired a new stake in Neumora Therapeutics in the 3rd quarter worth about $85,000. Bridgeway Capital Management LLC acquired a new stake in Neumora Therapeutics in the 2nd quarter worth about $92,000. Sei Investments Co. purchased a new stake in Neumora Therapeutics during the 2nd quarter worth approximately $157,000. Finally, Invesco Ltd. increased its stake in Neumora Therapeutics by 6.8% during the 2nd quarter. Invesco Ltd. now owns 132,038 shares of the company’s stock worth $97,000 after buying an additional 8,383 shares in the last quarter. 47.65% of the stock is currently owned by institutional investors and hedge funds.

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.