William Blair Reiterates Outperform Rating for Neumora Therapeutics (NASDAQ:NMRA)

William Blair reaffirmed their outperform rating on shares of Neumora Therapeutics (NASDAQ:NMRA) in a report issued on Wednesday,RTT News reports.

A number of other equities analysts have also weighed in on the company. JPMorgan Chase & Co. lowered Neumora Therapeutics from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $18.00 to $15.00 in a research report on Tuesday, November 5th. Needham & Company LLC reissued a “buy” rating and issued a $23.00 target price on shares of Neumora Therapeutics in a research report on Thursday, January 2nd. HC Wainwright reissued a “buy” rating and issued a $30.00 target price on shares of Neumora Therapeutics in a research report on Friday, January 3rd. Royal Bank of Canada lowered Neumora Therapeutics from an “outperform” rating to a “sector perform” rating and decreased their target price for the stock from $29.00 to $4.00 in a research report on Thursday, January 2nd. Finally, Bank of America decreased their target price on Neumora Therapeutics from $22.00 to $7.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $16.50.

Neumora Therapeutics Stock Down 3.5 %

NMRA opened at $2.20 on Wednesday. The stock has a 50-day moving average price of $9.16 and a 200-day moving average price of $11.17. Neumora Therapeutics has a 1 year low of $1.83 and a 1 year high of $21.00.

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

Insider Buying and Selling at Neumora Therapeutics

In other Neumora Therapeutics news, Director Matthew K. Fust sold 14,049 shares of the business’s stock in a transaction dated 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 sale, the director now directly owns 20,100 shares in the company, valued at $342,303. The trade was a 41.14 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 26.40% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Amalgamated Bank grew its stake in shares of Neumora Therapeutics by 472.8% during the 2nd quarter. Amalgamated Bank now owns 2,910 shares of the company’s stock valued at $29,000 after acquiring an additional 2,402 shares during the period. Quarry LP bought a new position in shares of Neumora Therapeutics during the 2nd quarter valued at approximately $98,000. SkyOak Wealth LLC bought a new position in shares of Neumora Therapeutics during the 2nd quarter valued at approximately $147,000. Intech Investment Management LLC bought a new position in shares of Neumora Therapeutics during the 3rd quarter valued at approximately $175,000. Finally, Ballentine Partners LLC bought a new position in shares of Neumora Therapeutics during the 3rd quarter valued at approximately $178,000. 47.65% of the stock is currently owned by institutional investors.

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.