Neumora Therapeutics, Inc. (NASDAQ:NMRA) Receives Average Rating of “Hold” from Analysts

Shares of Neumora Therapeutics, Inc. (NASDAQ:NMRA) have earned an average recommendation of “Hold” from the nine analysts that are covering the company, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $10.14.

NMRA has been the subject of a number of analyst reports. Guggenheim downgraded shares of Neumora Therapeutics from a “buy” rating to a “neutral” rating in a research report on Friday, March 7th. William Blair lowered Neumora Therapeutics from an “outperform” rating to a “market perform” rating in a report on Monday, March 10th. Stifel Nicolaus downgraded Neumora Therapeutics from a “buy” rating to a “hold” rating and reduced their target price for the stock from $6.00 to $2.00 in a research note 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 research note on Tuesday, March 4th. Finally, 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 report on Tuesday, March 4th.

Neumora Therapeutics Stock Down 7.0 %

Neumora Therapeutics stock opened at $1.19 on Tuesday. Neumora Therapeutics has a 52 week low of $1.16 and a 52 week high of $17.19. The firm has a market cap of $192.76 million, a price-to-earnings ratio of -0.64 and a beta of 2.59. The business’s 50-day moving average price is $1.82 and its 200 day moving average price is $8.16.

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

Institutional Investors Weigh In On Neumora Therapeutics

A number of large investors have recently modified their holdings of the business. Capital International Investors raised its holdings 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 acquiring an additional 3,233,179 shares during the last quarter. State Street Corp grew its position in shares of Neumora Therapeutics by 65.3% in the third quarter. State Street Corp now owns 1,790,707 shares of the company’s stock valued at $23,655,000 after purchasing an additional 707,409 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Neumora Therapeutics by 54.0% in the third quarter. Geode Capital Management LLC now owns 1,979,847 shares of the company’s stock valued at $26,159,000 after purchasing an additional 694,385 shares in the last quarter. Stempoint Capital LP purchased a new position in Neumora Therapeutics during the fourth quarter worth approximately $4,538,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in Neumora Therapeutics by 139.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 698,255 shares of the company’s stock worth $9,224,000 after buying an additional 406,891 shares during the last quarter. 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.