Neumora Therapeutics (NASDAQ:NMRA) Cut to “Strong Sell” at Wall Street Zen

Wall Street Zen lowered shares of Neumora Therapeutics (NASDAQ:NMRA) from a sell rating to a strong sell rating in a research report released on Saturday morning,Wall Street Zen reports.

A number of other brokerages also recently issued reports on NMRA. Royal Bank Of Canada reduced their price objective on shares of Neumora Therapeutics from $7.00 to $5.00 and set an “outperform” rating for the company in a research report on Monday, July 13th. Weiss Ratings raised shares of Neumora Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, September 25th. HC Wainwright reissued a “buy” rating on shares of Neumora Therapeutics in a research report on Tuesday, July 28th. Needham & Company LLC cut their target price on Neumora Therapeutics from $8.00 to $5.00 and set a “buy” rating on the stock in a research note on Tuesday, June 16th. Finally, Mizuho cut their target price on Neumora Therapeutics from $6.00 to $4.00 and set an “outperform” rating on the stock in a research note on Thursday, June 18th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $6.57.

Neumora Therapeutics Stock Performance

NASDAQ NMRA opened at $0.44 on Friday. The company has a fifty day moving average price of $1.13 and a 200-day moving average price of $1.59. The firm has a market cap of $82.17 million, a price-to-earnings ratio of -0.36 and a beta of 2.95. The company has a debt-to-equity ratio of 1.19, a current ratio of 4.50 and a quick ratio of 4.50. Neumora Therapeutics has a 1 year low of $0.44 and a 1 year high of $3.65.

Neumora Therapeutics (NASDAQ:NMRA) last released its quarterly earnings results on Friday, August 14th. The company reported ($0.23) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.01. As a group, equities research analysts predict that Neumora Therapeutics will post -0.83 EPS for the current fiscal year.

Insider Activity

In other news, insider Daljit Singh Aurora sold 21,055 shares of the firm’s stock in a transaction on Friday, August 21st. The stock was sold at an average price of $1.60, for a total transaction of $33,688.00. Following the completion of the sale, the insider directly owned 48,750 shares of the company’s stock, valued at $78,000. This trade represents a 30.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last ninety days, insiders sold 453,833 shares of company stock worth $701,219. Company insiders own 26.94% of the company’s stock.

Hedge Funds Weigh In On Neumora Therapeutics

Institutional investors have recently added to or reduced their stakes in the stock. HBK Sorce Advisory LLC purchased a new position in Neumora Therapeutics in the second quarter valued at about $26,000. The Manufacturers Life Insurance Company bought a new position in shares of Neumora Therapeutics during the 2nd quarter valued at approximately $44,000. AMG National Trust Bank purchased a new stake in shares of Neumora Therapeutics during the 2nd quarter worth approximately $74,000. SkyOak Wealth LLC increased its stake in shares of Neumora Therapeutics by 50.0% during the 1st quarter. SkyOak Wealth LLC now owns 150,000 shares of the company’s stock worth $292,000 after purchasing an additional 50,000 shares during the last quarter. Finally, Bank of America Corp DE increased its stake in shares of Neumora Therapeutics by 72.8% during the 1st quarter. Bank of America Corp DE now owns 176,927 shares of the company’s stock worth $345,000 after purchasing an additional 74,518 shares during the last quarter. Institutional investors own 47.65% of the company’s stock.

About Neumora Therapeutics

Neumora Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing treatments for disorders of the brain. The company combines neuroscience research with data science, including its proprietary MAP platform, to identify patient subgroups, discover potential drug targets and support the development of therapies for neurological and neuropsychiatric conditions.

Neumora’s lead investigational product is navacaprant, an oral, selective kappa opioid receptor antagonist being evaluated for major depressive disorder.