10 Hot Penny Stocks to Invest in Now

2. Neumora Therapeutics, Inc. (NASDAQ:NMRA)

Stock Price: $1.71

Performance Last Month: 98.01%

Number of Hedge Fund Holders: 18

Neumora Therapeutics, Inc. (NASDAQ:NMRA) is one of the hot penny stocks to invest in now. On July 16, Mizuho analyst Graig Suvannavejh raised the firm’s price target on Neumora Therapeutics, Inc. (NASDAQ:NMRA) to $5 from $4, maintaining an Outperform rating on the shares.

The rating update came after the introduction of NMRA-861 on July 9, when Neumora Therapeutics, Inc. (NASDAQ:NMRA) announced the initiation of a Phase 1 single-ascending dose/multiple-ascending dose (SAD/MAD) study of NMRA-861 in healthy adult participants with stable schizophrenia.

NMRA-861 is a highly potent and selective positive allosteric modulator (PAM) that Neumora Therapeutics, Inc. (NASDAQ:NMRA) is developing for the treatment of schizophrenia and other neuropsychiatric disorders.

Mizuho estimates a US launch in 2034, with risk-unadjusted NMRA-861 sales reaching $1.2 billion in 2037. It also sees a favorable risk/reward at current share levels, supporting the optimistic outlook on Neumora Therapeutics, Inc. (NASDAQ:NMRA).

Neumora Therapeutics, Inc. (NASDAQ:NMRA) is a clinical-stage biotechnology company that integrates neuroscience and data science to offer a precision medicine approach for brain diseases. Its focus is on advancing medicines for therapeutically relevant targets implicated in CNS diseases.