Neumora Therapeutics (NASDAQ:NMRA) Stock Rating Lowered by Royal Bank of Canada

Neumora Therapeutics (NASDAQ:NMRA) was downgraded by equities researchers at Royal Bank of Canada from an “outperform” rating to a “sector perform” rating in a report issued on Thursday, Marketbeat reports. They currently have a $4.00 target price on the stock, down from their previous target price of $29.00. Royal Bank of Canada’s price target would suggest a potential upside of 84.33% from the stock’s previous close.

A number of other research analysts have also recently weighed in on the company. HC Wainwright reaffirmed a “buy” rating and set a $30.00 price objective on shares of Neumora Therapeutics in a research report on Monday, December 16th. Needham & Company LLC reaffirmed a “buy” rating and set a $23.00 price target on shares of Neumora Therapeutics in a report on Thursday. Finally, JPMorgan Chase & Co. downgraded 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. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $18.40.

Neumora Therapeutics Trading Up 10.2 %

NMRA opened at $2.17 on Thursday. The company’s 50 day moving average is $10.67 and its 200 day moving average is $11.53. The company has a market cap of $350.59 million, a price-to-earnings ratio of -1.16 and a beta of 3.34. Neumora Therapeutics has a 12-month low of $1.83 and a 12-month high of $21.00.

Neumora Therapeutics (NASDAQ:NMRA) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.45) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.06). During the same quarter in the previous year, the company earned ($1.14) EPS. As a group, analysts predict that Neumora Therapeutics will post -1.61 EPS for the current fiscal year.

Insider Buying and Selling at Neumora Therapeutics

In related news, Director Matthew K. Fust sold 14,049 shares of the stock in a transaction that occurred on Friday, October 18th. The stock was 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 directly owns 20,100 shares of the company’s stock, valued at approximately $342,303. This represents a 41.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Robert A. Lenz sold 5,563 shares of the company’s stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $15.01, for a total value of $83,500.63. Following the sale, the insider now directly owns 322,966 shares in the company, valued at $4,847,719.66. This trade represents a 1.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 26.40% of the company’s stock.

Institutional Investors Weigh In On Neumora Therapeutics

Several large investors have recently bought and sold shares of the business. Geode Capital Management LLC grew its stake in shares of Neumora Therapeutics by 54.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,979,847 shares of the company’s stock worth $26,159,000 after buying an additional 694,385 shares in the last quarter. State Street Corp grew its position in Neumora Therapeutics by 65.3% in the third quarter. State Street Corp now owns 1,790,707 shares of the company’s stock worth $23,655,000 after acquiring an additional 707,409 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Neumora Therapeutics by 139.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 698,255 shares of the company’s stock worth $9,224,000 after acquiring an additional 406,891 shares during the last quarter. Callan Capital LLC lifted its stake in shares of Neumora Therapeutics by 222.6% in the 2nd quarter. Callan Capital LLC now owns 661,194 shares of the company’s stock valued at $6,500,000 after purchasing an additional 456,207 shares during the last quarter. Finally, Auour Investments LLC purchased a new position in shares of Neumora Therapeutics in the 3rd quarter worth approximately $3,302,000. 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.