Neumora Therapeutics’ (NMRA) Outperform Rating Reiterated at William Blair

Neumora Therapeutics (NASDAQ:NMRA)‘s stock had its “outperform” rating reiterated by stock analysts at William Blair in a research note issued to investors on Wednesday,RTT News reports.

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

Neumora Therapeutics Stock Performance

Shares of Neumora Therapeutics stock opened at $2.28 on Wednesday. The company has a 50-day simple moving average of $9.16 and a two-hundred day simple moving average of $11.17. Neumora Therapeutics has a 52-week low of $1.83 and a 52-week high of $21.00. The stock has a market capitalization of $368.36 million, a PE ratio of -1.22 and a beta of 2.71.

Neumora Therapeutics (NASDAQ:NMRA) last released its quarterly earnings data 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 quarter last year, the company earned ($1.14) earnings per share. As a group, equities research analysts forecast that Neumora Therapeutics will post -1.61 EPS for the current fiscal year.

Insider Transactions at Neumora Therapeutics

In other Neumora Therapeutics news, Director Matthew K. Fust sold 14,049 shares of the firm’s stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $17.03, for a total transaction of $239,254.47. Following the sale, the director now owns 20,100 shares in the company, valued at approximately $342,303. This trade represents a 41.14 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 26.40% of the company’s stock.

Hedge Funds Weigh In On Neumora Therapeutics

Large investors have recently made changes to their positions in the business. Geode Capital Management LLC grew its position in shares of Neumora Therapeutics by 54.0% during the third 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 in the last quarter. State Street Corp boosted its stake in Neumora Therapeutics by 65.3% in the 3rd quarter. State Street Corp now owns 1,790,707 shares of the company’s stock worth $23,655,000 after purchasing an additional 707,409 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Neumora Therapeutics by 139.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 698,255 shares of the company’s stock valued at $9,224,000 after buying an additional 406,891 shares in the last quarter. Callan Capital LLC raised its position in shares of Neumora Therapeutics by 222.6% during the second 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 last quarter. Finally, Auour Investments LLC bought a new stake in shares of Neumora Therapeutics during the third quarter valued at approximately $3,302,000. 47.65% of the stock is currently owned by hedge funds and other 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.