Neumora Therapeutics, Inc. (NASDAQ:NMRA – Get Free Report) was the target of a large increase in short interest in July. As of July 15th, there was short interest totalling 8,860,000 shares, an increase of 21.4% from the June 30th total of 7,300,000 shares. Based on an average daily trading volume, of 788,400 shares, the short-interest ratio is currently 11.2 days. Approximately 16.2% of the company’s shares are sold short.
Institutional Trading of Neumora Therapeutics
Several hedge funds have recently added to or reduced their stakes in the company. Principal Financial Group Inc. acquired a new stake in Neumora Therapeutics during the 2nd quarter worth approximately $166,000. Bank of New York Mellon Corp lifted its holdings in Neumora Therapeutics by 474.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 235,593 shares of the company’s stock worth $2,316,000 after purchasing an additional 194,559 shares during the last quarter. SG Americas Securities LLC acquired a new stake in Neumora Therapeutics during the 2nd quarter worth approximately $566,000. Artal Group S.A. raised its holdings in Neumora Therapeutics by 14.5% in the 1st quarter. Artal Group S.A. now owns 2,924,052 shares of the company’s stock valued at $40,206,000 after acquiring an additional 371,350 shares in the last quarter. Finally, Kennedy Capital Management LLC acquired a new position in Neumora Therapeutics in the 1st quarter valued at $1,881,000. 47.65% of the stock is owned by institutional investors and hedge funds.
Neumora Therapeutics Stock Up 2.9 %
NMRA stock traded up $0.36 during mid-day trading on Tuesday, reaching $12.81. The company had a trading volume of 719,576 shares, compared to its average volume of 617,601. Neumora Therapeutics has a 52 week low of $8.33 and a 52 week high of $21.00. The stock has a 50 day simple moving average of $10.23 and a two-hundred day simple moving average of $12.76.
Analyst Upgrades and Downgrades
Several research firms have weighed in on NMRA. Mizuho began coverage on Neumora Therapeutics in a report on Monday, July 8th. They set an “outperform” rating and a $20.00 target price on the stock. Needham & Company LLC began coverage on Neumora Therapeutics in a report on Monday, July 22nd. They set a “buy” rating and a $23.00 target price on the stock. Finally, William Blair reiterated an “outperform” rating on shares of Neumora Therapeutics in a report on Friday, April 12th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $22.33.
Get Our Latest Stock Analysis on Neumora Therapeutics
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.
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