Neumora Therapeutics’ (NMRA) “Sector Perform” Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reissued their sector perform rating on shares of Neumora Therapeutics (NASDAQ:NMRA) in a research note released on Tuesday,Benzinga reports. The brokerage currently has a $4.00 price target on the stock.

A number of other analysts also recently commented on the stock. William Blair reiterated an “outperform” rating on shares of Neumora Therapeutics in a report on Wednesday, January 15th. Needham & Company LLC reiterated a “buy” rating and issued a $5.00 price objective on shares of Neumora Therapeutics in a report on Tuesday. HC Wainwright cut their price objective on shares of Neumora Therapeutics from $30.00 to $18.00 and set a “buy” rating for the company in a report on Tuesday. JPMorgan Chase & Co. downgraded shares of Neumora Therapeutics from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $18.00 to $15.00 in a report on Tuesday, November 5th. Finally, Bank of America dropped their price target on shares of Neumora Therapeutics from $22.00 to $7.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $11.50.

Neumora Therapeutics Stock Performance

Shares of Neumora Therapeutics stock opened at $1.52 on Tuesday. The firm has a 50-day simple moving average of $2.63 and a two-hundred day simple moving average of $8.71. The company has a market cap of $245.57 million, a P/E ratio of -0.81 and a beta of 2.59. Neumora Therapeutics has a fifty-two week low of $1.35 and a fifty-two week high of $21.00.

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

Institutional Trading of Neumora Therapeutics

Several hedge funds have recently made changes to their positions in NMRA. Capital International Investors boosted its position in shares of Neumora Therapeutics by 692.1% during the 4th quarter. Capital International Investors now owns 3,700,359 shares of the company’s stock worth $39,224,000 after purchasing an additional 3,233,179 shares during the period. State Street Corp boosted its position 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 worth $23,655,000 after purchasing an additional 707,409 shares during the period. Geode Capital Management LLC boosted its position in shares of Neumora Therapeutics by 54.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,979,847 shares of the company’s stock worth $26,159,000 after purchasing an additional 694,385 shares during the period. Stempoint Capital LP purchased a new position in shares of Neumora Therapeutics during the 4th quarter worth approximately $4,538,000. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Neumora Therapeutics by 139.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 698,255 shares of the company’s stock worth $9,224,000 after purchasing an additional 406,891 shares during the period. Hedge funds and other 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.