William Blair Upgrades Neumora Therapeutics (NASDAQ:NMRA) to Outperform

Neumora Therapeutics (NASDAQ:NMRA) was upgraded by stock analysts at William Blair from a “market perform” rating to an “outperform” rating in a report issued on Tuesday,Finviz reports.

Several other brokerages have also recently weighed in on NMRA. Stifel Nicolaus raised their target price on Neumora Therapeutics from $2.00 to $3.00 and gave the company a “hold” rating in a research note on Monday, November 17th. Guggenheim upgraded shares of Neumora Therapeutics from a “neutral” rating to a “buy” rating and set a $14.00 price objective for the company in a research report on Monday, October 27th. Royal Bank Of Canada raised shares of Neumora Therapeutics from a “sector perform” rating to an “outperform” rating and lifted their price objective for the stock from $4.00 to $7.00 in a research note on Monday, December 1st. Weiss Ratings reissued a “sell (d-)” rating on shares of Neumora Therapeutics in a research note on Thursday, January 22nd. Finally, Leerink Partners initiated coverage on shares of Neumora Therapeutics in a report on Monday, January 12th. They set an “outperform” rating and a $8.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has given a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $8.13.

Neumora Therapeutics Stock Performance

Shares of NASDAQ NMRA opened at $3.20 on Tuesday. Neumora Therapeutics has a 1 year low of $0.61 and a 1 year high of $3.46. The firm has a market cap of $534.69 million, a P/E ratio of -2.18 and a beta of 3.20. The stock has a fifty day moving average price of $2.09 and a two-hundred day moving average price of $2.03. The company has a debt-to-equity ratio of 0.15, a quick ratio of 6.85 and a current ratio of 6.85.

Institutional Trading of Neumora Therapeutics

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

Neumora Therapeutics Company Profile

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.