Neumora Therapeutics (NASDAQ:NMRA) Reaches New 12-Month High After Analyst Upgrade

Neumora Therapeutics, Inc. (NASDAQ:NMRA)’s share price reached a new 52-week high during trading on Wednesday after William Blair upgraded the stock from a market perform rating to an outperform rating. The company 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.

A number of other equities analysts have also recently weighed in on NMRA. Needham & Company LLC upped their price objective on shares of Neumora Therapeutics from $6.00 to $8.00 and gave the stock a “buy” rating in a research report on Tuesday, October 28th. Guggenheim upgraded shares of Neumora Therapeutics from a “neutral” rating to a “buy” rating and set a $14.00 price target for the company in a research report on Monday, October 27th. Leerink Partners initiated coverage on Neumora Therapeutics in a report on Monday, January 12th. They issued an “outperform” rating and a $8.00 price objective on the stock. Stifel Nicolaus boosted their price objective on Neumora Therapeutics from $2.00 to $3.00 and gave the stock a “hold” rating in a research note on Monday, November 17th. Finally, Mizuho set a $6.00 target price on Neumora Therapeutics in a research report on Monday, January 5th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, Neumora Therapeutics presently has a consensus rating of “Hold” and a consensus target price of $8.13.

Institutional Investors Weigh In On Neumora Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Invesco Ltd. boosted its stake in Neumora Therapeutics by 151.1% during the first quarter. Invesco Ltd. now owns 123,655 shares of the company’s stock worth $124,000 after buying an additional 74,406 shares during the last quarter. AQR Capital Management LLC purchased a new position in shares of Neumora Therapeutics during the 1st quarter worth $463,000. Vanguard Personalized Indexing Management LLC boosted its position in shares of Neumora Therapeutics by 130.3% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 58,196 shares of the company’s stock valued at $43,000 after acquiring an additional 32,922 shares during the last quarter. CWM LLC grew its holdings in shares of Neumora Therapeutics by 41.8% in the second quarter. CWM LLC now owns 35,750 shares of the company’s stock valued at $26,000 after purchasing an additional 10,537 shares during the period. Finally, Y Intercept Hong Kong Ltd purchased a new stake in shares of Neumora Therapeutics in the second quarter valued at about $42,000. Institutional investors and hedge funds own 47.65% of the company’s stock.

Neumora Therapeutics Trading Up 1.4%

The company has a quick ratio of 6.85, a current ratio of 6.85 and a debt-to-equity ratio of 0.15. The company’s 50-day moving average is $2.15 and its 200-day moving average is $2.05. The stock has a market capitalization of $599.85 million, a price-to-earnings ratio of -2.44 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.