Neumora Therapeutics (NASDAQ:NMRA) Shares Gap Up Following Analyst Upgrade

Shares of Neumora Therapeutics, Inc. (NASDAQ:NMRA) gapped up before the market opened on Tuesday after William Blair upgraded the stock from a market perform rating to an outperform rating. The stock had previously closed at $3.20, but opened at $3.35. Neumora Therapeutics shares last traded at $3.3050, with a volume of 437,762 shares traded.

Other equities research analysts also recently issued research reports about the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Neumora Therapeutics in a report on Thursday, January 22nd. Leerink Partners initiated coverage on shares of Neumora Therapeutics in a research report on Monday, January 12th. They issued an “outperform” rating and a $8.00 price objective for the company. Royal Bank Of Canada upgraded shares of Neumora Therapeutics from a “sector perform” rating to an “outperform” rating and lifted their target price for the stock from $4.00 to $7.00 in a research note on Monday, December 1st. Mizuho set a $6.00 target price on shares of Neumora Therapeutics in a research report on Monday, January 5th. Finally, Guggenheim upgraded shares of Neumora Therapeutics from a “neutral” rating to a “buy” rating and set a $14.00 price target on the stock in a research note on Monday, October 27th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $8.13.

Institutional Trading of Neumora Therapeutics

Several large investors have recently made changes to their positions in NMRA. AlphaCore Capital LLC acquired a new stake in Neumora Therapeutics during the 2nd quarter worth about $248,000. Catalyst Funds Management Pty Ltd acquired a new position in shares of Neumora Therapeutics in the 2nd quarter valued at about $29,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Neumora Therapeutics in the 2nd quarter valued at about $41,000. Savant Capital LLC purchased a new stake in shares of Neumora Therapeutics in the second quarter worth about $52,000. Finally, Y Intercept Hong Kong Ltd acquired a new stake in Neumora Therapeutics during the second quarter worth about $42,000. 47.65% of the stock is owned by hedge funds and other institutional investors.

Neumora Therapeutics Stock Performance

The firm has a fifty day moving average of $2.12 and a 200 day moving average of $2.04. The company has a debt-to-equity ratio of 0.15, a current ratio of 6.85 and a quick ratio of 6.85. The stock has a market capitalization of $591.50 million, a price-to-earnings ratio of -2.41 and a beta of 3.20.

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.