Neumora Therapeutics, Inc. (NASDAQ:NMRA) Given Consensus Rating of “Moderate Buy” by Analysts

Neumora Therapeutics, Inc. (NASDAQ:NMRA) has received an average recommendation of “Moderate Buy” from the seven brokerages that are presently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $16.50.

NMRA has been the topic of several recent analyst reports. HC Wainwright reaffirmed a “buy” rating and set a $30.00 target price on shares of Neumora Therapeutics in a research note on Friday, January 3rd. Needham & Company LLC reaffirmed a “buy” rating and issued a $23.00 price objective 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 lowered their target price for the company from $29.00 to $4.00 in a research note on Thursday, January 2nd. JPMorgan Chase & Co. lowered shares of Neumora Therapeutics from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $18.00 to $15.00 in a research note on Tuesday, November 5th. Finally, Bank of America lowered their price objective on shares of Neumora Therapeutics from $22.00 to $7.00 and set a “buy” rating on the stock in a research note on Monday, January 6th.

Institutional Trading of Neumora Therapeutics

A number of large investors have recently added to or reduced their stakes in the business. Amalgamated Bank lifted its position in shares of Neumora Therapeutics by 472.8% during the 2nd quarter. Amalgamated Bank now owns 2,910 shares of the company’s stock valued at $29,000 after acquiring an additional 2,402 shares during the last quarter. Marshall Wace LLP purchased a new stake in shares of Neumora Therapeutics during the second quarter valued at $1,323,000. The Manufacturers Life Insurance Company boosted its position in shares of Neumora Therapeutics by 79.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 111,828 shares of the company’s stock valued at $1,099,000 after purchasing an additional 49,527 shares during the period. Quarry LP purchased a new position in Neumora Therapeutics in the 2nd quarter worth about $98,000. Finally, Handelsbanken Fonder AB raised its holdings in Neumora Therapeutics by 35.0% during the 3rd quarter. Handelsbanken Fonder AB now owns 26,600 shares of the company’s stock worth $351,000 after buying an additional 6,900 shares during the period. 47.65% of the stock is currently owned by institutional investors.

Neumora Therapeutics Stock Performance

Neumora Therapeutics stock opened at $2.12 on Monday. Neumora Therapeutics has a one year low of $1.83 and a one year high of $21.00. The company has a 50-day simple moving average of $7.55 and a 200-day simple moving average of $10.72. The firm has a market capitalization of $342.51 million, a P/E ratio of -1.13 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 company posted ($1.14) EPS. As a group, sell-side analysts forecast that Neumora Therapeutics will post -1.61 earnings per share for the current year.

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.