Neumora Therapeutics (NASDAQ:NMRA) Downgraded by Guggenheim to “Neutral”

Neumora Therapeutics (NASDAQ:NMRA) was downgraded by Guggenheim from a “buy” rating to a “neutral” rating in a report released on Friday,Briefing.com Automated Import reports.

Several other brokerages have also commented on NMRA. Royal Bank of Canada restated a “sector perform” rating and set a $4.00 target price on shares of Neumora Therapeutics in a research report on Tuesday. HC Wainwright reduced 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. William Blair restated an “outperform” rating on shares of Neumora Therapeutics in a research report on Wednesday, January 15th. Bank of America dropped their target price on shares of Neumora Therapeutics from $22.00 to $7.00 and set a “buy” rating for the company in a report on Monday, January 6th. Finally, Needham & Company LLC reissued a “buy” rating and set a $5.00 price target on shares of Neumora Therapeutics in a research note on Tuesday. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $10.14.

Neumora Therapeutics Stock Up 6.3 %

NASDAQ NMRA opened at $1.52 on Friday. The stock has a market capitalization of $245.57 million, a P/E ratio of -0.81 and a beta of 2.59. Neumora Therapeutics has a 52-week low of $1.33 and a 52-week high of $21.00. The firm has a 50-day moving average price of $2.63 and a 200 day moving average price of $8.71.

Neumora Therapeutics (NASDAQ:NMRA) last posted its quarterly earnings results on Thursday, March 6th. The company reported ($0.37) EPS for the quarter, beating the consensus estimate of ($0.46) by $0.09. On average, equities research analysts expect that Neumora Therapeutics will post -1.61 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Neumora Therapeutics

A number of institutional investors have recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Neumora Therapeutics during the fourth quarter valued at $61,000. PNC Financial Services Group Inc. purchased a new position in shares of Neumora Therapeutics during the fourth quarter valued at approximately $64,000. Quantbot Technologies LP acquired a new stake in Neumora Therapeutics during the fourth quarter worth approximately $92,000. PEAK6 LLC purchased a new stake in Neumora Therapeutics in the 4th quarter worth approximately $117,000. Finally, EntryPoint Capital LLC acquired a new position in Neumora Therapeutics in the 4th quarter valued at $135,000. 47.65% of the stock is owned by institutional investors and hedge funds.

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.