Neumora Therapeutics, Inc. (NASDAQ:NMRA) Short Interest Down 13.7% in February

Neumora Therapeutics, Inc. (NASDAQ:NMRA) was the recipient of a significant decrease in short interest in the month of February. As of February 27th, there was short interest totaling 5,216,610 shares, a decrease of 13.7% from the February 12th total of 6,045,735 shares. Based on an average daily trading volume, of 870,409 shares, the days-to-cover ratio is presently 6.0 days. Currently, 4.3% of the company’s shares are short sold. Currently, 4.3% of the company’s shares are short sold. Based on an average daily trading volume, of 870,409 shares, the days-to-cover ratio is presently 6.0 days.

Insiders Place Their Bets

In other Neumora Therapeutics news, insider Paul L. Berns sold 9,819 shares of the firm’s stock in a transaction dated 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 of the company’s stock, 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 is accessible through this hyperlink. Insiders sold 23,387 shares of company stock worth $82,647 in the last quarter. Corporate insiders own 26.80% of the company’s stock.

Institutional Investors Weigh In On Neumora Therapeutics

A number of hedge funds have recently bought and sold shares of NMRA. Siren L.L.C. raised its position in shares of 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 purchasing an additional 1,930,500 shares in the last quarter. Millennium Management LLC increased its stake 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 worth $6,474,000 after buying an additional 1,608,266 shares during the last quarter. Ikarian Capital LLC increased its stake in shares of Neumora Therapeutics by 10,128.9% in the fourth quarter. Ikarian Capital LLC now owns 1,278,408 shares of the company’s stock worth $2,288,000 after buying an additional 1,265,910 shares during the last quarter. Jacobs Levy Equity Management Inc. acquired a new stake in Neumora Therapeutics in the third quarter valued at $1,512,000. Finally, Marshall Wace LLP bought a new position in Neumora Therapeutics during the 4th quarter valued at $1,045,000. Institutional investors and hedge funds own 47.65% of the company’s stock.

Neumora Therapeutics Stock Down 1.6%

NASDAQ:NMRA traded down $0.05 on Tuesday, reaching $2.83. The stock had a trading volume of 329,627 shares, compared to its average volume of 1,791,100. The company has a 50-day moving average of $2.67 and a 200 day moving average of $2.26. The company has a current ratio of 6.85, a quick ratio of 6.85 and a debt-to-equity ratio of 0.15. The stock has a market cap of $472.03 million, a P/E ratio of -1.92 and a beta of 2.46. Neumora Therapeutics has a 12-month low of $0.61 and a 12-month high of $3.65.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Stifel Nicolaus raised their target price on shares of Neumora Therapeutics from $2.00 to $3.00 and gave the stock a “hold” rating in a research report on Monday, November 17th. Weiss Ratings reissued a “sell (d-)” rating on shares of Neumora Therapeutics in a research note on Thursday, January 22nd. Leerink Partners began coverage on Neumora Therapeutics in a report on Monday, January 12th. They set an “outperform” rating and a $8.00 price objective for the company. William Blair raised Neumora Therapeutics from a “market perform” rating to an “outperform” rating in a research report on Tuesday, February 17th. Finally, Royal Bank Of Canada upgraded Neumora Therapeutics from a “sector perform” rating to an “outperform” rating and lifted their target price for the company from $4.00 to $7.00 in a report on Monday, December 1st. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $6.71.

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.