Neumora Therapeutics (NASDAQ:NMRA) Downgraded to “Neutral” Rating by JPMorgan Chase & Co.

Neumora Therapeutics (NASDAQ:NMRA) was downgraded by JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a research report issued on Tuesday, FinViz reports. They presently have a $15.00 target price on the stock, down from their previous target price of $18.00. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 28.10% from the company’s current price.

Several other brokerages have also recently weighed in on NMRA. HC Wainwright assumed coverage on Neumora Therapeutics in a report on Tuesday, October 1st. They issued a “buy” rating and a $30.00 price objective for the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $29.00 price target on shares of Neumora Therapeutics in a research report on Wednesday, September 4th. Needham & Company LLC reissued a “buy” rating and issued a $23.00 price objective on shares of Neumora Therapeutics in a report on Friday, October 18th. Finally, Mizuho began coverage on shares of Neumora Therapeutics in a report on Monday, July 8th. They set an “outperform” rating and a $20.00 target price on the stock. 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.com, the company has an average rating of “Moderate Buy” and an average target price of $21.67.

Neumora Therapeutics Stock Performance

NASDAQ NMRA opened at $11.71 on Tuesday. Neumora Therapeutics has a 52 week low of $8.33 and a 52 week high of $21.00. The stock’s 50 day moving average price is $12.92 and its two-hundred day moving average price is $11.29. The stock has a market capitalization of $1.87 billion, a price-to-earnings ratio of -4.57 and a beta of 3.92.

Neumora Therapeutics (NASDAQ:NMRA) last released its earnings results on Tuesday, August 6th. The company reported ($0.37) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.37). On average, equities research analysts forecast that Neumora Therapeutics will post -1.48 EPS for the current year.

Insider Buying and Selling

In other Neumora Therapeutics news, CFO Joshua Pinto sold 28,496 shares of the stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $11.63, for a total value of $331,408.48. Following the transaction, the chief financial officer now directly owns 210,469 shares of the company’s stock, valued at $2,447,754.47. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Joshua Pinto sold 28,496 shares of the business’s stock in a transaction dated 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 owns 210,469 shares of the company’s stock, valued at approximately $2,447,754.47. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Robert A. Lenz sold 30,788 shares of the company’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $11.81, for a total transaction of $363,606.28. Following the completion of the transaction, the insider now owns 339,205 shares in the company, valued at $4,006,011.05. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 110,538 shares of company stock valued at $1,390,513. Company insiders own 26.40% of the company’s stock.

Institutional Trading of Neumora Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Amalgamated Bank lifted its stake in Neumora Therapeutics by 472.8% in the 2nd quarter. Amalgamated Bank now owns 2,910 shares of the company’s stock valued at $29,000 after purchasing an additional 2,402 shares during the last quarter. Quarry LP acquired a new position in Neumora Therapeutics in the 2nd quarter worth about $98,000. SkyOak Wealth LLC bought a new position in Neumora Therapeutics in the 2nd quarter valued at approximately $147,000. Principal Financial Group Inc. acquired a new position in shares of Neumora Therapeutics during the second quarter worth $166,000. Finally, Ballentine Partners LLC acquired a new position in Neumora Therapeutics during the 3rd quarter worth about $178,000. 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.