Neumora Therapeutics (NASDAQ:NMRA) Announces Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Neumora Therapeutics (NASDAQ:NMRA) issued its quarterly earnings results on Friday. The company reported ($0.23) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.01, FiscalAI reports.

Neumora Therapeutics Trading Down 7.5%

Shares of NASDAQ:NMRA traded down $0.13 on Friday, hitting $1.60. 1,165,545 shares of the company’s stock were exchanged, compared to its average volume of 631,906. Neumora Therapeutics has a 12 month low of $0.83 and a 12 month high of $3.65. The stock has a market capitalization of $296.45 million, a price-to-earnings ratio of -1.20 and a beta of 2.75. The business’s 50 day simple moving average is $1.61 and its two-hundred day simple moving average is $2.12. The company has a debt-to-equity ratio of 0.75, a current ratio of 5.09 and a quick ratio of 5.09.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on NMRA shares. Royal Bank Of Canada reduced their target price on shares of Neumora Therapeutics from $7.00 to $5.00 and set an “outperform” rating on the stock in a research note on Monday, July 13th. Needham & Company LLC cut their price target on shares of Neumora Therapeutics from $8.00 to $5.00 and set a “buy” rating on the stock in a report on Tuesday, June 16th. HC Wainwright reissued a “buy” rating on shares of Neumora Therapeutics in a research report on Tuesday, July 28th. Mizuho decreased their price objective on shares of Neumora Therapeutics from $6.00 to $4.00 and set an “outperform” rating for the company in a research note on Thursday, June 18th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Neumora Therapeutics in a research report on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $6.57.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. ADAR1 Capital Management LLC bought a new position in Neumora Therapeutics in the 4th quarter worth about $91,000. Jefferies Financial Group Inc. bought a new stake in shares of Neumora Therapeutics during the third quarter valued at approximately $85,000. Bridgeway Capital Management LLC purchased a new stake in shares of Neumora Therapeutics in the second quarter valued at approximately $92,000. Sei Investments Co. bought a new position in Neumora Therapeutics in the second quarter worth approximately $157,000. Finally, Invesco Ltd. grew its stake in Neumora Therapeutics by 6.8% in the second quarter. Invesco Ltd. now owns 132,038 shares of the company’s stock worth $97,000 after purchasing an additional 8,383 shares in the last quarter. Hedge funds and other institutional investors own 47.65% of the company’s stock.

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.