Neumora Therapeutics (NASDAQ:NMRA) Given New $7.00 Price Target at Bank of America

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

Several other research firms have also weighed in on NMRA. HC Wainwright reissued a "buy" rating and issued a $30.00 target price on shares of Neumora Therapeutics in a research note on Friday. JPMorgan Chase & Co. lowered shares of Neumora Therapeutics from an "overweight" rating to a "neutral" rating and reduced their price objective for the stock from $18.00 to $15.00 in a research note on Tuesday, November 5th. Royal Bank of Canada downgraded 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. Finally, Needham & Company LLC reissued a "buy" rating and set a $23.00 price target on shares of Neumora Therapeutics in a research report on Thursday. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $16.50.

Neumora Therapeutics Trading Up 14.3 %

Shares of NASDAQ:NMRA traded up $0.31 during trading on Monday, hitting $2.48. 12,617,920 shares of the company's stock were exchanged, compared to its average volume of 26,766,340. The firm has a market cap of $400.67 million, a P/E ratio of -1.33 and a beta of 2.71. The firm has a 50-day moving average price of $10.47 and a two-hundred day moving average price of $11.51. Neumora Therapeutics has a 1-year low of $1.83 and a 1-year high of $21.00.

Neumora Therapeutics (NASDAQ:NMRA - Get Free Report) last released its earnings results on Tuesday, November 12th. The company reported ($0.45) EPS for the quarter, missing analysts' consensus estimates of ($0.39) by ($0.06). During the same period in the previous year, the business earned ($1.14) EPS. As a group, research analysts predict that Neumora Therapeutics will post -1.61 EPS for the current year.

Insiders Place Their Bets

In other Neumora Therapeutics news, Director Matthew K. Fust sold 14,049 shares of the business's stock in a transaction dated 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 directly owns 20,100 shares of the company's stock, valued at $342,303. The trade was a 41.14 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Robert A. Lenz sold 5,563 shares of the firm's stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $15.01, for a total value of $83,500.63. Following the completion of the transaction, the insider now owns 322,966 shares of the company's stock, valued at $4,847,719.66. The trade was a 1.69 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 26.40% of the company's stock.

Institutional Investors Weigh In On Neumora Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the stock. Bank of New York Mellon Corp increased its holdings in Neumora Therapeutics by 474.1% during the second quarter. Bank of New York Mellon Corp now owns 235,593 shares of the company's stock worth $2,316,000 after buying an additional 194,559 shares during the last quarter. Principal Financial Group Inc. acquired a new position in shares of Neumora Therapeutics during the 2nd quarter worth about $166,000. Rhumbline Advisers raised its holdings in shares of Neumora Therapeutics by 488.3% in the 2nd quarter. Rhumbline Advisers now owns 103,258 shares of the company's stock valued at $1,015,000 after purchasing an additional 85,706 shares during the period. TD Asset Management Inc grew its holdings in Neumora Therapeutics by 31.6% during the second quarter. TD Asset Management Inc now owns 144,994 shares of the company's stock worth $1,425,000 after purchasing an additional 34,800 shares during the period. Finally, Amalgamated Bank increased its position in Neumora Therapeutics by 472.8% during the second quarter. Amalgamated Bank now owns 2,910 shares of the company's stock worth $29,000 after buying an additional 2,402 shares during the last quarter. 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.