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

Neumora Therapeutics (NASDAQ:NMRA) had its price target decreased by Bank of America from $22.00 to $7.00 in a research report released on Monday,Benzinga reports. Bank of America currently has a buy rating on the stock.

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

Neumora Therapeutics Trading Down 8.1 %

Shares of NMRA stock opened at $2.37 on Monday. Neumora Therapeutics has a twelve month low of $1.83 and a twelve month high of $21.00. The stock has a fifty day simple moving average of $9.90 and a two-hundred day simple moving average of $11.35. The stock has a market capitalization of $382.90 million, a price-to-earnings ratio of -1.27 and a beta of 2.71.

Neumora Therapeutics (NASDAQ:NMRA) last issued its earnings results 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 period in the prior year, the company posted ($1.14) EPS. Research analysts predict that Neumora Therapeutics will post -1.61 EPS for the current fiscal year.

Insider Activity at Neumora Therapeutics

In other news, Director Matthew K. Fust sold 14,049 shares of the business’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 owns 20,100 shares in the company, valued at approximately $342,303. The trade was a 41.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 26.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Neumora Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of NMRA. Geode Capital Management LLC increased 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 valued at $26,159,000 after purchasing an additional 694,385 shares in the last quarter. Barclays PLC grew its holdings in shares of Neumora Therapeutics by 352.9% during the third quarter. Barclays PLC now owns 129,210 shares of the company’s stock valued at $1,708,000 after buying an additional 100,678 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Neumora Therapeutics by 139.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 698,255 shares of the company’s stock valued at $9,224,000 after acquiring an additional 406,891 shares during the period. Point72 Asset Management L.P. purchased a new position in Neumora Therapeutics in the 3rd quarter worth $1,097,000. Finally, Callan Capital LLC lifted its position in Neumora Therapeutics by 222.6% during the 2nd quarter. Callan Capital LLC now owns 661,194 shares of the company’s stock worth $6,500,000 after acquiring an additional 456,207 shares during the period. 47.65% of the stock is owned by hedge funds and other institutional investors.

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.