Neumora Therapeutics (NASDAQ:NMRA) Trading Up 25.3% – What’s Next?

Neumora Therapeutics, Inc. (NASDAQ:NMRA)’s stock price was up 25.3% during mid-day trading on Tuesday . The stock traded as high as $3.10 and last traded at $2.9950. Approximately 6,180,080 shares changed hands during trading, an increase of 180% from the average daily volume of 2,204,223 shares. The stock had previously closed at $2.39.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on NMRA shares. Leerink Partners started coverage on Neumora Therapeutics in a report on Monday, January 12th. They issued an “outperform” rating and a $8.00 price target for the company. Royal Bank Of Canada upgraded shares of Neumora Therapeutics from a “sector perform” rating to an “outperform” rating and boosted their price objective for the stock from $4.00 to $7.00 in a research report on Monday, December 1st. Stifel Nicolaus increased their target price on shares of Neumora Therapeutics from $2.00 to $3.00 and gave the company a “hold” rating in a research report on Monday, November 17th. Weiss Ratings reissued a “sell (d-)” rating on shares of Neumora Therapeutics in a research report on Thursday, January 22nd. Finally, Needham & Company LLC raised their price objective on Neumora Therapeutics from $6.00 to $8.00 and gave the stock a “buy” rating in a report on Tuesday, October 28th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Neumora Therapeutics presently has a consensus rating of “Hold” and a consensus price target of $8.13.

Neumora Therapeutics Stock Up 25.1%

The company has a market capitalization of $499.60 million, a price-to-earnings ratio of -2.03 and a beta of 3.20. The company has a current ratio of 6.85, a quick ratio of 6.85 and a debt-to-equity ratio of 0.15. The firm’s 50 day simple moving average is $2.00 and its 200-day simple moving average is $2.00.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of NMRA. Jacobs Levy Equity Management Inc. purchased a new position in Neumora Therapeutics in the third quarter valued at about $1,512,000. Millennium Management LLC grew its holdings in shares of Neumora Therapeutics by 63.1% in the 3rd quarter. Millennium Management LLC now owns 2,008,248 shares of the company’s stock worth $3,655,000 after acquiring an additional 776,856 shares during the period. AQR Capital Management LLC purchased a new position in Neumora Therapeutics in the 1st quarter valued at approximately $463,000. GSA Capital Partners LLP increased its stake in Neumora Therapeutics by 392.6% in the 4th quarter. GSA Capital Partners LLP now owns 534,044 shares of the company’s stock valued at $956,000 after purchasing an additional 425,633 shares in the last quarter. Finally, AlphaCore Capital LLC acquired a new position in Neumora Therapeutics during the second quarter worth $248,000. 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.