Neumora Therapeutics (NASDAQ:NMRA) Shares Gap Down – What’s Next?

Neumora Therapeutics, Inc. (NASDAQ:NMRA)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $3.49, but opened at $2.85. Neumora Therapeutics shares last traded at $3.1350, with a volume of 1,088,327 shares.

Analyst Upgrades and Downgrades

NMRA has been the topic of several research analyst reports. William Blair upgraded shares of Neumora Therapeutics from a “market perform” rating to an “outperform” rating in a research note on Tuesday, February 17th. Royal Bank Of Canada upgraded 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 report on Monday, December 1st. Stifel Nicolaus boosted their target price on Neumora Therapeutics from $2.00 to $3.00 and gave the company a “hold” rating in a report on Monday, November 17th. Mizuho set a $6.00 price target on Neumora Therapeutics in a research note on Monday, January 5th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Neumora Therapeutics in a research note on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, Neumora Therapeutics currently has an average rating of “Hold” and an average target price of $8.13.

Neumora Therapeutics Stock Performance

The stock has a market cap of $540.54 million, a PE ratio of -2.20 and a beta of 2.46. The stock has a fifty day moving average of $2.37 and a 200-day moving average of $2.15. The company has a quick ratio of 6.85, a current ratio of 6.85 and a debt-to-equity ratio of 0.15.

Insider Buying and Selling at Neumora Therapeutics

In other news, insider Paul L. Berns sold 9,819 shares of the business’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $3.51, for a total value of $34,464.69. Following the transaction, the insider owned 7,395,185 shares of the company’s stock, valued at approximately $25,957,099.35. The trade was 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 this hyperlink. In the last quarter, insiders sold 23,387 shares of company stock valued at $82,647. Company insiders own 26.80% of the company’s stock.

Hedge Funds Weigh In On Neumora Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Siren L.L.C. increased its stake in Neumora Therapeutics by 44.3% in 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. Millennium Management LLC boosted its holdings in shares of Neumora Therapeutics by 80.1% in the fourth quarter. Millennium Management LLC now owns 3,616,514 shares of the company’s stock valued at $6,474,000 after acquiring an additional 1,608,266 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of Neumora Therapeutics by 24.2% during the fourth quarter. Renaissance Technologies LLC now owns 1,445,902 shares of the company’s stock worth $2,588,000 after acquiring an additional 281,926 shares during the period. Ikarian Capital LLC increased its stake in shares of Neumora Therapeutics by 10,128.9% during the fourth quarter. Ikarian Capital LLC now owns 1,278,408 shares of the company’s stock worth $2,288,000 after acquiring an additional 1,265,910 shares during the period. Finally, Geode Capital Management LLC raised its holdings in Neumora Therapeutics by 3.6% during the fourth quarter. Geode Capital Management LLC now owns 1,003,746 shares of the company’s stock worth $1,797,000 after purchasing an additional 34,818 shares in the last quarter. 47.65% of the stock is currently owned by hedge funds and other 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.