Neumora Therapeutics (NASDAQ:NMRA) Hits New 12-Month High Following Analyst Upgrade

Neumora Therapeutics, Inc. (NASDAQ:NMRA)’s stock price reached a new 52-week high on Wednesday after William Blair upgraded the stock from a market perform rating to an outperform rating. The stock traded as high as $3.64 and last traded at $3.54, with a volume of 2286850 shares changing hands. The stock had previously closed at $3.20.

Several other equities research analysts have also issued reports on the stock. Leerink Partners started coverage on shares of Neumora Therapeutics in a research report on Monday, January 12th. They set an “outperform” rating and a $8.00 target price for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Neumora Therapeutics in a report on Thursday, January 22nd. Royal Bank Of Canada raised Neumora Therapeutics from a “sector perform” rating to an “outperform” rating and increased their target price for the company from $4.00 to $7.00 in a research note on Monday, December 1st. Mizuho set a $6.00 price target on Neumora Therapeutics in a research report on Monday, January 5th. Finally, Stifel Nicolaus upped their price objective on Neumora Therapeutics from $2.00 to $3.00 and gave the stock a “hold” rating in a report on Monday, November 17th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $8.13.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Siren L.L.C. boosted its position in Neumora Therapeutics by 44.3% during the 4th quarter. Siren L.L.C. now owns 6,288,783 shares of the company’s stock valued at $11,257,000 after buying an additional 1,930,500 shares during the period. Jacobs Levy Equity Management Inc. bought a new stake in shares of Neumora Therapeutics in the third quarter worth about $1,512,000. Millennium Management LLC increased its holdings in Neumora Therapeutics by 63.1% during the 3rd quarter. Millennium Management LLC now owns 2,008,248 shares of the company’s stock valued at $3,655,000 after purchasing an additional 776,856 shares during the period. Marshall Wace LLP bought a new position in Neumora Therapeutics during the 4th quarter valued at approximately $1,045,000. Finally, Goldman Sachs Group Inc. lifted its holdings in Neumora Therapeutics by 127.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 858,502 shares of the company’s stock worth $1,537,000 after buying an additional 481,128 shares during the period. 47.65% of the stock is owned by hedge funds and other institutional investors.

Neumora Therapeutics Trading Up 10.6%

The company has a debt-to-equity ratio of 0.15, a quick ratio of 6.85 and a current ratio of 6.85. The stock has a market capitalization of $591.50 million, a P/E ratio of -2.41 and a beta of 3.20. The stock has a 50-day moving average price of $2.12 and a two-hundred day moving average price of $2.04.

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.