Royal Bank of Canada Reiterates “Sector Perform” Rating for Neumora Therapeutics (NASDAQ:NMRA)

Neumora Therapeutics (NASDAQ:NMRA)‘s stock had its “sector perform” rating restated by equities researchers at Royal Bank of Canada in a research note issued on Tuesday,Benzinga reports. They currently have a $4.00 target price on the stock. Royal Bank of Canada’s target price would suggest a potential upside of 173.04% from the stock’s previous close.

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

Neumora Therapeutics Stock Up 4.3 %

Shares of Neumora Therapeutics stock traded up $0.06 on Tuesday, hitting $1.47. 339,929 shares of the company’s stock traded hands, compared to its average volume of 4,251,260. Neumora Therapeutics has a 52-week low of $1.35 and a 52-week high of $21.00. The stock has a market cap of $236.69 million, a P/E ratio of -0.78 and a beta of 2.50. The firm’s 50-day moving average is $3.20 and its 200 day moving average is $8.88.

Neumora Therapeutics (NASDAQ:NMRA) last released its quarterly earnings data on Thursday, March 6th. The company reported ($0.37) EPS for the quarter, topping analysts’ consensus estimates of ($0.46) by $0.09. Equities research analysts forecast that Neumora Therapeutics will post -1.61 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of NMRA. JPMorgan Chase & Co. lifted its position in shares of Neumora Therapeutics by 2.6% in the third quarter. JPMorgan Chase & Co. now owns 64,421 shares of the company’s stock worth $851,000 after buying an additional 1,629 shares during the last quarter. SkyOak Wealth LLC lifted its holdings in Neumora Therapeutics by 33.3% in the 4th quarter. SkyOak Wealth LLC now owns 20,000 shares of the company’s stock worth $212,000 after purchasing an additional 5,000 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in Neumora Therapeutics during the fourth quarter valued at approximately $61,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Neumora Therapeutics by 0.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 704,154 shares of the company’s stock worth $7,464,000 after buying an additional 5,899 shares during the last quarter. Finally, PNC Financial Services Group Inc. acquired a new position in Neumora Therapeutics in the 4th quarter valued at $64,000. 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.