Neumora Therapeutics (NASDAQ:NMRA) Price Target Cut to $7.00 by Analysts at Bank of America

Neumora Therapeutics (NASDAQ:NMRA) had its target price lowered by investment analysts at Bank of America from $22.00 to $7.00 in a report released on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. Bank of America‘s price target would indicate a potential upside of 171.32% from the company’s previous close.

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

Neumora Therapeutics Stock Performance

Shares of NMRA opened at $2.58 on Monday. The firm has a 50 day moving average price of $10.10 and a 200-day moving average price of $11.42. Neumora Therapeutics has a fifty-two week low of $1.83 and a fifty-two week high of $21.00. The firm has a market cap of $416.83 million, a price-to-earnings ratio of -1.38 and a beta of 2.71.

Neumora Therapeutics (NASDAQ:NMRA) last posted its earnings results on Tuesday, November 12th. The company reported ($0.45) 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) EPS. As a group, equities research analysts predict that Neumora Therapeutics will post -1.61 earnings per share for the current year.

Insider Activity

In related news, Director Matthew K. Fust sold 14,049 shares of the firm’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 sale, the director now directly owns 20,100 shares of the company’s stock, valued at $342,303. This trade represents a 41.14 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 26.40% of the company’s stock.

Hedge Funds Weigh In On Neumora Therapeutics

Hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC boosted its stake in 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 last quarter. Barclays PLC increased its stake in Neumora Therapeutics by 352.9% during the third quarter. Barclays PLC now owns 129,210 shares of the company’s stock worth $1,708,000 after purchasing an additional 100,678 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Neumora Therapeutics by 139.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 698,255 shares of the company’s stock worth $9,224,000 after acquiring an additional 406,891 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in Neumora Therapeutics during the 3rd quarter worth $1,097,000. Finally, Callan Capital LLC boosted its stake in shares of Neumora Therapeutics by 222.6% in the 2nd quarter. Callan Capital LLC now owns 661,194 shares of the company’s stock valued at $6,500,000 after buying an additional 456,207 shares during the period. 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.