Analysts Set Neumora Therapeutics, Inc. (NASDAQ:NMRA) Target Price at $8.13

Neumora Therapeutics, Inc. (NASDAQ:NMRA) has received an average rating of “Hold” from the ten ratings firms that are currently covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a sell recommendation, one has issued a hold recommendation, five have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $6.7143.

A number of equities analysts recently commented on NMRA shares. Mizuho set a $6.00 price target on shares of Neumora Therapeutics in a research note on Monday, January 5th. William Blair upgraded Neumora Therapeutics from a “market perform” rating to an “outperform” rating in a research report on Tuesday, February 17th. Royal Bank Of Canada raised Neumora Therapeutics from a “sector perform” rating to an “outperform” rating and upped their target price for the company from $4.00 to $7.00 in a research note on Monday, December 1st. Leerink Partners began coverage on Neumora Therapeutics in a research note on Monday, January 12th. They set an “outperform” rating and a $8.00 price target for the company. Finally, Stifel Nicolaus boosted their price objective on Neumora Therapeutics from $2.00 to $3.00 and gave the company a “hold” rating in a report on Monday, November 17th.

Insider Activity

In other news, insider Paul L. Berns sold 9,819 shares of the company’s stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $3.51, for a total value of $34,464.69. Following the transaction, the insider directly owned 7,395,185 shares in the company, valued at approximately $25,957,099.35. This represents a 0.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders have sold 23,387 shares of company stock worth $82,647 over the last ninety days. 26.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Neumora Therapeutics

Several large investors have recently added to or reduced their stakes in the stock. Siren L.L.C. increased its position in shares of Neumora Therapeutics by 44.3% during the fourth quarter. Siren L.L.C. now owns 6,288,783 shares of the company’s stock worth $11,257,000 after acquiring an additional 1,930,500 shares during the period. Millennium Management LLC grew its stake in Neumora Therapeutics by 80.1% in the fourth quarter. Millennium Management LLC now owns 3,616,514 shares of the company’s stock worth $6,474,000 after purchasing an additional 1,608,266 shares in the last quarter. Renaissance Technologies LLC grew its stake in Neumora Therapeutics by 24.2% in the fourth quarter. Renaissance Technologies LLC now owns 1,445,902 shares of the company’s stock worth $2,588,000 after purchasing an additional 281,926 shares in the last quarter. Ikarian Capital LLC increased its holdings in Neumora Therapeutics by 10,128.9% during the 4th quarter. Ikarian Capital LLC now owns 1,278,408 shares of the company’s stock worth $2,288,000 after purchasing an additional 1,265,910 shares during the period. Finally, Geode Capital Management LLC raised its position in Neumora Therapeutics by 3.6% during the 4th quarter. Geode Capital Management LLC now owns 1,003,746 shares of the company’s stock valued at $1,797,000 after purchasing an additional 34,818 shares in the last quarter. 47.65% of the stock is owned by hedge funds and other institutional investors.

Neumora Therapeutics Stock Down 1.6%

NASDAQ NMRA opened at $3.00 on Tuesday. The company has a quick ratio of 6.85, a current ratio of 6.85 and a debt-to-equity ratio of 0.15. Neumora Therapeutics has a 52 week low of $0.61 and a 52 week high of $3.65. The firm has a market capitalization of $501.27 million, a price-to-earnings ratio of -2.04 and a beta of 2.49. The company has a fifty day moving average of $2.47 and a two-hundred day moving average of $2.18.

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.