Neumora Therapeutics, Inc. (NASDAQ:NMRA) Short Interest Update

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

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. JPMorgan Chase & Co. cut shares of Neumora Therapeutics from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $18.00 to $15.00 in a research report on Tuesday, November 5th. HC Wainwright reiterated a “buy” rating and set a $30.00 price target on shares of Neumora Therapeutics in a research report on Friday, January 3rd. Royal Bank of Canada cut shares of Neumora Therapeutics from an “outperform” rating to a “sector perform” rating and reduced their price target for the company from $29.00 to $4.00 in a research report on Thursday, January 2nd. Needham & Company LLC reiterated a “buy” rating and issued a $23.00 target price on shares of Neumora Therapeutics in a research note on Thursday, January 2nd. Finally, Bank of America lowered 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 research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Neumora Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $16.50.

Neumora Therapeutics Trading Down 3.6 %

Shares of NASDAQ:NMRA traded down $0.07 during midday trading on Monday, reaching $1.86. 2,070,972 shares of the company were exchanged, compared to its average volume of 6,886,250. The business’s fifty day moving average is $6.77 and its two-hundred day moving average is $10.38. Neumora Therapeutics has a one year low of $1.81 and a one year high of $21.00. The stock has a market cap of $300.50 million, a PE ratio of -0.99 and a beta of 2.54.

Neumora Therapeutics (NASDAQ:NMRA) last issued its earnings results 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 in the previous year, the company posted ($1.14) EPS. As a group, sell-side analysts expect that Neumora Therapeutics will post -1.61 EPS for the current year.

Hedge Funds Weigh In On Neumora Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Neumora Therapeutics during the fourth quarter worth $61,000. Intech Investment Management LLC bought a new position in Neumora Therapeutics during the third quarter valued at $175,000. Ballentine Partners LLC bought a new position in Neumora Therapeutics during the third quarter valued at $178,000. Clarius Group LLC bought a new position in Neumora Therapeutics during the third quarter valued at $224,000. Finally, SkyOak Wealth LLC lifted its position in 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 purchasing an additional 5,000 shares during the last quarter. Institutional investors own 47.65% of the company’s stock.

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.