HC Wainwright Issues Pessimistic Forecast for NMRA Earnings

Neumora Therapeutics, Inc. (NASDAQ:NMRA) – Investment analysts at HC Wainwright dropped their FY2024 earnings estimates for Neumora Therapeutics in a report released on Wednesday, November 13th. HC Wainwright analyst D. Tsao now forecasts that the company will post earnings of ($1.63) per share for the year, down from their prior forecast of ($1.37). HC Wainwright currently has a “Buy” rating and a $30.00 target price on the stock. The consensus estimate for Neumora Therapeutics’ current full-year earnings is ($1.48) per share. HC Wainwright also issued estimates for Neumora Therapeutics’ Q4 2024 earnings at ($0.46) EPS, FY2025 earnings at ($1.76) EPS, FY2026 earnings at ($1.77) EPS, FY2027 earnings at ($1.37) EPS and FY2028 earnings at $0.03 EPS.

Neumora Therapeutics (NASDAQ:NMRA) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.45) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.07). During the same period in the prior year, the firm earned ($1.14) EPS.

A number of other research analysts have also recently commented on NMRA. JPMorgan Chase & Co. cut shares of Neumora Therapeutics from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $18.00 to $15.00 in a research report on Tuesday, November 5th. Royal Bank of Canada reiterated an “outperform” rating and issued a $29.00 price objective on shares of Neumora Therapeutics in a report on Wednesday, September 4th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $23.00 price objective on shares of Neumora Therapeutics in a research report on Wednesday. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Neumora Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $21.67.

Neumora Therapeutics Trading Down 7.3 %

Shares of NMRA stock opened at $10.84 on Friday. The company’s fifty day simple moving average is $13.09 and its 200-day simple moving average is $11.41. Neumora Therapeutics has a 52 week low of $8.33 and a 52 week high of $21.00. The company has a market cap of $1.75 billion, a PE ratio of -5.84 and a beta of 3.92.

Hedge Funds Weigh In On Neumora Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the stock. Amalgamated Bank grew its stake in Neumora Therapeutics by 472.8% in the second quarter. Amalgamated Bank now owns 2,910 shares of the company’s stock valued at $29,000 after purchasing an additional 2,402 shares in the last quarter. Quarry LP acquired a new stake in shares of Neumora Therapeutics during the 2nd quarter valued at about $98,000. SkyOak Wealth LLC acquired a new position in Neumora Therapeutics in the second quarter worth approximately $147,000. Principal Financial Group Inc. acquired a new position in Neumora Therapeutics in the second quarter worth approximately $166,000. Finally, Intech Investment Management LLC bought a new position in Neumora Therapeutics during the third quarter valued at approximately $175,000. 47.65% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Neumora Therapeutics

In other news, CFO Joshua Pinto sold 28,496 shares of the stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $11.63, for a total value of $331,408.48. Following the completion of the sale, the chief financial officer now directly owns 210,469 shares of the company’s stock, valued at $2,447,754.47. This represents a 11.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Matthew K. Fust sold 14,049 shares of the company’s stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $17.03, for a total transaction of $239,254.47. Following the completion of the transaction, the director now owns 20,100 shares in the company, valued at approximately $342,303. This represents a 41.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 110,538 shares of company stock valued at $1,390,513 over the last ninety days. Insiders own 26.40% of the company’s stock.

Neumora Therapeutics Company Profile

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.