Neumora Therapeutics Inc. (NASDAQ: NMRA): Stock Forecast For 2024 Still Looks Weak With A -96.74% Decline

In the last trading session, 1.33 million shares of the Neumora Therapeutics Inc. (NASDAQ:NMRA) were traded, and its beta was 3.38. Most recently the company’s share price was $14.74, and it changed around $0.18 or 1.24% from the last close, which brings the market valuation of the company to $2.36B. NMRA currently trades at a discount to its 52-week high of $21.00, offering almost -42.47% off that amount. The share price’s 52-week low was $8.33, which indicates that the current value has risen by an impressive 43.49% since then. We note from Neumora Therapeutics Inc.’s average daily trading volume that its 10-day average is 0.82 million shares, with the 3-month average coming to 703.70K.

Neumora Therapeutics Inc. stock received a consensus recommendation rating of Buy, based on a mean score of 1.00. If we narrow it down even further, the data shows that 0 out of 8 analysts rate the stock as a Sell; another 4 rate it as Overweight. Among the rest, 0 recommended NMRA as a Hold, whereas 4 deemed it a Buy, and 0 rated it as Underweight. Neumora Therapeutics Inc. is expected to report earnings per share of -0.39 for the current quarter.

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Neumora Therapeutics Inc. (NASDAQ:NMRA) trade information

Instantly NMRA has showed a green trend with a performance of 1.24% at the end of last trading. The performance over the last five days has remained in the green territory. The rise to weekly highs of 15.00 on recent trading dayincreased the stock’s daily price by 1.73%. The company’s shares are currently down -13.55% year-to-date, but still up 9.19% over the last five days. On the other hand, Neumora Therapeutics Inc. (NASDAQ:NMRA) is 29.18% up in the 30-day period. We can see from the shorts that 9.52 million shares have been sold at a short interest cover period of 22.58 day(s).

The consensus price target as assigned by Wall Street analysts is $24.5, which translates to bulls needing to increase their stock price by 39.84% from its current value. Analyst projections state that NMRA is forecast to be at a low of $20 and a high of $29.

Neumora Therapeutics Inc. (NMRA) estimates and forecasts

Neumora Therapeutics Inc. share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 1.38 percent over the past six months and at a 59.23% annual growth rate that is well above the industry average of 17.60%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 65.80% in revenue this quarter, and will report an increase of 47.90% in the next quarter.

NMRA Dividends

Neumora Therapeutics Inc.’s next quarterly earnings report is expected to be released in November.

Neumora Therapeutics Inc. (NASDAQ:NMRA)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 28.05% of Neumora Therapeutics Inc. shares, and 61.37% of them are in the hands of institutional investors. The stock currently has a share float of 85.29%.