Neumora Therapeutics (NASDAQ:NMRA) Given “Underperform” Rating at Bank of America

Bank of America reissued their underperform rating on shares of Neumora Therapeutics (NASDAQ:NMRA) in a research note published on Wednesday, MarketBeat Ratings reports. The brokerage currently has a $1.00 price target on the stock, down from their previous price target of $7.00.

Several other research analysts have also recently issued reports on NMRA. Stifel Nicolaus cut shares of Neumora Therapeutics from a “buy” rating to a “hold” rating and cut their target price for the stock from $6.00 to $2.00 in a report on Friday, March 7th. Royal Bank of Canada reissued a “sector perform” rating and issued a $4.00 price target on shares of Neumora Therapeutics in a report on Tuesday, March 4th. HC Wainwright lowered their price objective on shares of Neumora Therapeutics from $30.00 to $18.00 and set a “buy” rating for the company in a research note on Tuesday, March 4th. Needham & Company LLC reissued a “buy” rating and issued a $5.00 target price on shares of Neumora Therapeutics in a research note on Tuesday, March 4th. Finally, Guggenheim downgraded Neumora Therapeutics from a “buy” rating to a “neutral” rating in a report on Friday, March 7th. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $9.29.

Neumora Therapeutics Stock Up 3.0 %

Neumora Therapeutics stock opened at $0.94 on Wednesday. The firm has a fifty day simple moving average of $1.55 and a two-hundred day simple moving average of $7.33. Neumora Therapeutics has a twelve month low of $0.89 and a twelve month high of $17.19. The company has a market capitalization of $152.33 million, a PE ratio of -0.50 and a beta of 2.59.

Neumora Therapeutics (NASDAQ:NMRA) last released its earnings results on Thursday, March 6th. The company reported ($0.37) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.46) by $0.09. As a group, equities analysts expect that Neumora Therapeutics will post -1.61 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Intech Investment Management LLC purchased a new position in shares of Neumora Therapeutics in the 3rd quarter valued at approximately $175,000. Charles Schwab Investment Management Inc. lifted its position 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 valued at $9,224,000 after buying an additional 406,891 shares during the period. Point72 Asset Management L.P. purchased a new position in Neumora Therapeutics during the third quarter valued at $1,097,000. State Street Corp boosted its holdings in shares of Neumora Therapeutics by 65.3% during the 3rd quarter. State Street Corp now owns 1,790,707 shares of the company’s stock valued at $23,655,000 after buying an additional 707,409 shares in the last quarter. Finally, Wexford Capital LP grew its position in shares of Neumora Therapeutics by 90.1% in the 3rd quarter. Wexford Capital LP now owns 217,879 shares of the company’s stock worth $2,878,000 after buying an additional 103,285 shares during the period. Hedge funds and other institutional investors own 47.65% 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.