Short Interest in Neumora Therapeutics, Inc. (NASDAQ:NMRA) Drops By 15.1%

Neumora Therapeutics, Inc. (NASDAQ:NMRA) was the target of a large decrease in short interest in the month of January. As of January 15th, there was short interest totalling 11,030,000 shares, a decrease of 15.1% from the December 31st total of 12,990,000 shares. Approximately 20.0% of the company’s shares are sold short. Based on an average daily trading volume, of 2,830,000 shares, the short-interest ratio is presently 3.9 days.

Institutional Investors Weigh In On Neumora Therapeutics

Several hedge funds have recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. bought a new position in Neumora Therapeutics in the 4th quarter worth about $61,000. Intech Investment Management LLC bought a new position in shares of Neumora Therapeutics in the third quarter worth approximately $175,000. Ballentine Partners LLC purchased a new stake in shares of Neumora Therapeutics during the third quarter valued at approximately $178,000. SkyOak Wealth LLC increased its position in shares of Neumora Therapeutics by 33.3% during the fourth quarter. SkyOak Wealth LLC now owns 20,000 shares of the company’s stock valued at $212,000 after acquiring an additional 5,000 shares in the last quarter. Finally, Clarius Group LLC purchased a new position in Neumora Therapeutics in the 3rd quarter worth approximately $224,000. 47.65% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

NMRA has been the subject of several recent analyst reports. HC Wainwright reaffirmed a “buy” rating and set a $30.00 price objective on shares of Neumora Therapeutics in a research note on Friday, January 3rd. Royal Bank of Canada lowered Neumora Therapeutics from an “outperform” rating to a “sector perform” rating and lowered their price target for the company from $29.00 to $4.00 in a research report on Thursday, January 2nd. William Blair reissued an “outperform” rating on shares of Neumora Therapeutics in a research note on Wednesday, January 15th. Needham & Company LLC reaffirmed a “buy” rating and issued a $23.00 price target on shares of Neumora Therapeutics in a research note on Thursday, January 2nd. Finally, Bank of America reduced their price objective on shares of Neumora Therapeutics from $22.00 to $7.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Neumora Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $16.50.

Neumora Therapeutics Stock Up 0.5 %

Shares of NMRA stock traded up $0.01 during mid-day trading on Friday, reaching $1.93. 1,718,096 shares of the company’s stock traded hands, compared to its average volume of 6,932,941. The company’s 50-day moving average price is $6.77 and its 200-day moving average price is $10.40. The company has a market cap of $311.81 million, a P/E ratio of -1.03 and a beta of 2.71. Neumora Therapeutics has a 12 month low of $1.83 and a 12 month high of $21.00.

Neumora Therapeutics (NASDAQ:NMRA) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.45) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.06). During the same period last year, the firm posted ($1.14) EPS. Equities analysts predict that Neumora Therapeutics will post -1.61 earnings per share for the current year.

About Neumora Therapeutics

Neumora Therapeutics, Inc, a clinical-stage biopharmaceutical company, engages in developing therapeutic treatments for brain diseases, neuropsychiatric disorders, and neurodegenerative diseases. The company develops navacaprant (NMRA-140), a novel once-daily oral kappa opioid receptor antagonist, which is in phase 3 clinical trials for the treatment of major depressive disorder.