Neumora Therapeutics’ (NMRA) “Underperform” Rating Reaffirmed at Bank of America

Neumora Therapeutics (NASDAQ:NMRA)‘s stock had its “underperform” rating reiterated by equities researchers at Bank of America in a research note issued on Wednesday,Benzinga reports. They presently have a $1.00 price target on the stock, down from their prior price target of $7.00. Bank of America‘s price target suggests a potential upside of 9.49% from the stock’s current price.

Other equities analysts have also recently issued research reports about the stock. 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. William Blair downgraded Neumora Therapeutics from an “outperform” rating to a “market perform” rating in a research note on Monday, March 10th. Needham & Company LLC reiterated 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 shares of Neumora Therapeutics from a “buy” rating to a “neutral” rating in a report on Friday, March 7th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $9.29.

Neumora Therapeutics Trading Down 8.7 %

NMRA stock opened at $0.91 on Wednesday. The stock’s 50 day simple moving average is $1.57 and its 200 day simple moving average is $7.37. Neumora Therapeutics has a 12-month low of $0.87 and a 12-month high of $17.19. The firm has a market cap of $147.94 million, a P/E ratio of -0.49 and a beta of 2.59.

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

Institutional Investors Weigh In On Neumora Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. bought a new position in Neumora Therapeutics in the 4th quarter valued at about $61,000. PNC Financial Services Group Inc. bought a new position in shares of Neumora Therapeutics in the fourth quarter valued at approximately $64,000. Quantbot Technologies LP bought a new position in shares of Neumora Therapeutics in the fourth quarter valued at approximately $92,000. PEAK6 LLC acquired a new position in shares of Neumora Therapeutics during the fourth quarter valued at approximately $117,000. Finally, EntryPoint Capital LLC bought a new stake in Neumora Therapeutics during the fourth quarter worth approximately $135,000. 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.