Neumora Therapeutics (NASDAQ:NMRA) Rating Lowered to Strong Sell at Wall Street Zen

Neumora Therapeutics (NASDAQ:NMRA) was downgraded by equities research analysts at Wall Street Zen from a “sell” rating to a “strong sell” rating in a report released on Saturday.

Other equities research analysts have also recently issued reports about the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Neumora Therapeutics in a research report on Friday, July 17th. HC Wainwright reduced their target price on shares of Neumora Therapeutics from $18.00 to $7.00 and set a “buy” rating on the stock in a research report on Tuesday, June 16th. Royal Bank Of Canada decreased their price target on shares of Neumora Therapeutics from $7.00 to $5.00 and set an “outperform” rating for the company in a research note on Monday, July 13th. Needham & Company LLC lowered their price target on Neumora Therapeutics from $8.00 to $5.00 and set a “buy” rating for the company in a report on Tuesday, June 16th. Finally, Mizuho reduced their price objective on Neumora Therapeutics from $6.00 to $4.00 and set an “outperform” rating on the stock in a report on Thursday, June 18th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $6.57.

Neumora Therapeutics Price Performance

Shares of NMRA stock opened at $1.49 on Friday. The stock has a 50 day moving average price of $1.65 and a 200 day moving average price of $2.17. Neumora Therapeutics has a 52-week low of $0.83 and a 52-week high of $3.65. The company has a debt-to-equity ratio of 0.75, a quick ratio of 5.09 and a current ratio of 5.09. The firm has a market capitalization of $276.07 million, a P/E ratio of -1.12 and a beta of 2.74.

Neumora Therapeutics (NASDAQ:NMRA) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.30) EPS for the quarter, topping analysts’ consensus estimates of ($0.32) by $0.02. As a group, sell-side analysts predict that Neumora Therapeutics will post -0.93 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. Hsbc Holdings PLC bought a new stake in Neumora Therapeutics during the fourth quarter valued at about $27,000. Virtu Financial LLC purchased a new position in Neumora Therapeutics in the third quarter valued at about $31,000. Fred Alger Management LLC bought a new position in Neumora Therapeutics in the fourth quarter worth about $40,000. Canada Pension Plan Investment Board bought a new position in Neumora Therapeutics in the second quarter worth about $41,000. Finally, Public Employees Retirement System of Ohio purchased a new stake in shares of Neumora Therapeutics during the third quarter valued at about $44,000. 47.65% of the stock is owned by institutional investors.

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.