Neumora Therapeutics (NASDAQ:NMRA) Given Sector Perform Rating at Royal Bank of Canada

Neumora Therapeutics (NASDAQ:NMRA)‘s stock had its “sector perform” rating reiterated by Royal Bank of Canada in a note issued to investors on Tuesday,Benzinga reports. They presently have a $4.00 price target on the stock. Royal Bank of Canada’s price target indicates a potential upside of 173.04% from the stock’s previous close.

NMRA has been the subject of several other research reports. Needham & Company LLC reaffirmed a “buy” rating and set a $5.00 price objective on shares of Neumora Therapeutics in a report on Tuesday. William Blair restated an “outperform” rating on shares of Neumora Therapeutics in a report on Wednesday, January 15th. HC Wainwright reduced their target price on shares of Neumora Therapeutics from $30.00 to $18.00 and set a “buy” rating on the stock in a research report on Tuesday. JPMorgan Chase & Co. cut Neumora Therapeutics from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $18.00 to $15.00 in a research note on Tuesday, November 5th. Finally, Bank of America cut their target price on Neumora Therapeutics from $22.00 to $7.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Neumora Therapeutics presently has a consensus rating of “Moderate Buy” and an average price target of $11.50.

Neumora Therapeutics Trading Up 4.3 %

NMRA stock traded up $0.06 during trading on Tuesday, hitting $1.47. The company had a trading volume of 339,929 shares, compared to its average volume of 4,251,260. The company has a fifty day moving average price of $3.20 and a two-hundred day moving average price of $8.88. Neumora Therapeutics has a fifty-two week low of $1.35 and a fifty-two week high of $21.00. The company has a market cap of $236.69 million, a P/E ratio of -0.78 and a beta of 2.50.

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

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. Auour Investments LLC bought a new stake in Neumora Therapeutics in the 3rd quarter valued at approximately $3,302,000. Intech Investment Management LLC bought a new stake in shares of Neumora Therapeutics in the third quarter worth $175,000. Charles Schwab Investment Management Inc. lifted its position 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 purchasing an additional 406,891 shares in the last quarter. Cerity Partners LLC acquired a new position in Neumora Therapeutics during the third quarter worth $3,209,000. Finally, Point72 Asset Management L.P. bought a new position in Neumora Therapeutics in the third quarter valued at $1,097,000. 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.