Needham & Company LLC Reiterates “Buy” Rating for Neumora Therapeutics (NASDAQ:NMRA)

Neumora Therapeutics (NASDAQ:NMRA)‘s stock had its “buy” rating restated by investment analysts at Needham & Company LLC in a report released on Tuesday,Benzinga reports. They currently have a $5.00 price objective on the stock.

Several other analysts also recently commented on NMRA. HC Wainwright dropped their price objective on shares of Neumora Therapeutics from $30.00 to $18.00 and set a “buy” rating on the stock in a report on Tuesday, March 4th. Stifel Nicolaus downgraded shares of Neumora Therapeutics from a “buy” rating to a “hold” rating and dropped their price objective for the company from $6.00 to $2.00 in a report on Friday, March 7th. Guggenheim downgraded shares of Neumora Therapeutics from a “buy” rating to a “neutral” rating in a report on Friday, March 7th. Bank of America reiterated an “underperform” rating and issued a $1.00 target price (down from $7.00) on shares of Neumora Therapeutics in a research note on Wednesday, April 2nd. Finally, William Blair cut shares of Neumora Therapeutics from an “outperform” rating to a “market perform” rating in a research note on Monday, March 10th. 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 company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $9.29.

Neumora Therapeutics Price Performance

Shares of NASDAQ:NMRA traded up $0.02 during trading hours on Tuesday, hitting $0.72. The company’s stock had a trading volume of 119,631 shares, compared to its average volume of 1,491,462. Neumora Therapeutics has a 52 week low of $0.62 and a 52 week high of $17.19. The company has a market capitalization of $115.65 million, a price-to-earnings ratio of -0.38 and a beta of 2.96. The firm’s fifty day moving average price is $0.91 and its 200 day moving average price is $4.56.

Neumora Therapeutics (NASDAQ:NMRA) last released its earnings results on Monday, May 12th. The company reported ($0.42) earnings per share for the quarter, missing the consensus estimate of ($0.40) by ($0.02). On average, equities research analysts predict that Neumora Therapeutics will post -1.61 earnings per share for the current fiscal year.

Institutional Trading of Neumora Therapeutics

Institutional investors have recently modified their holdings of the stock. Capital International Investors increased its stake in Neumora Therapeutics by 692.1% in the 4th quarter. Capital International Investors now owns 3,700,359 shares of the company’s stock valued at $39,224,000 after buying an additional 3,233,179 shares during the period. Lunate Capital Ltd acquired a new stake in Neumora Therapeutics in the 1st quarter valued at about $2,124,000. Stempoint Capital LP acquired a new stake in shares of Neumora Therapeutics during the 4th quarter worth about $4,538,000. Schonfeld Strategic Advisors LLC boosted its stake in shares of Neumora Therapeutics by 273.9% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 521,013 shares of the company’s stock worth $5,523,000 after purchasing an additional 381,676 shares during the last quarter. Finally, Federated Hermes Inc. acquired a new stake in shares of Neumora Therapeutics during the 1st quarter worth about $285,000. Hedge funds and other 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.