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

Neumora Therapeutics, Inc. (NASDAQ:NMRA) has received a consensus rating of “Hold” from the ten analysts that are presently covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a sell rating, one has given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $6.7143.

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

Neumora Therapeutics Stock Up 0.7%

Shares of Neumora Therapeutics stock opened at $3.02 on Tuesday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 6.85 and a current ratio of 6.85. Neumora Therapeutics has a 52-week low of $0.61 and a 52-week high of $3.65. The company’s 50 day moving average price is $2.50 and its 200-day moving average price is $2.20. The stock has a market capitalization of $504.61 million, a price-to-earnings ratio of -2.05 and a beta of 2.49.

Insiders Place Their Bets

In other news, insider Paul L. Berns sold 9,819 shares of Neumora Therapeutics 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 sale, the insider directly owned 7,395,185 shares in the company, valued at approximately $25,957,099.35. This trade represents a 0.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last three months, 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 made changes to their positions in the business. Siren L.L.C. boosted its holdings in Neumora Therapeutics by 44.3% in the fourth quarter. Siren L.L.C. now owns 6,288,783 shares of the company’s stock valued at $11,257,000 after acquiring an additional 1,930,500 shares in the last quarter. Millennium Management LLC raised its holdings in Neumora Therapeutics by 80.1% in the 4th 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 raised its holdings in Neumora Therapeutics by 24.2% in the 4th 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 lifted its position in shares of Neumora Therapeutics by 10,128.9% in 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 lifted its position in shares of Neumora Therapeutics by 3.6% in the 4th 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 during the period. Institutional investors own 47.65% of the company’s stock.

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.