Neumora Therapeutics (NASDAQ:NMRA) Downgraded by JPMorgan Chase & Co. to Neutral

JPMorgan Chase & Co. downgraded shares of Neumora Therapeutics (NASDAQ:NMRA - Free Report) from an overweight rating to a neutral rating in a research report report published on Tuesday morning, MarketBeat reports. They currently have $15.00 target price on the stock, down from their previous target price of $18.00.

Several other research firms have also issued reports on NMRA. HC Wainwright assumed coverage on Neumora Therapeutics in a research note on Tuesday, October 1st. They set a "buy" rating and a $30.00 price objective for the company. Royal Bank of Canada reissued an "outperform" rating and issued a $29.00 price objective on shares of Neumora Therapeutics in a research note on Wednesday, September 4th. Needham & Company LLC restated a "buy" rating and issued a $23.00 target price on shares of Neumora Therapeutics in a research note on Friday, October 18th. Finally, Mizuho began coverage on shares of Neumora Therapeutics in a research report on Monday, July 8th. They set an "outperform" rating and a $20.00 price target on the stock. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Neumora Therapeutics currently has an average rating of "Moderate Buy" and an average price target of $21.67.

Neumora Therapeutics Stock Performance

Shares of NASDAQ:NMRA traded up $0.20 during midday trading on Tuesday, hitting $11.91. The company's stock had a trading volume of 1,421,880 shares, compared to its average volume of 712,174. Neumora Therapeutics has a fifty-two week low of $8.33 and a fifty-two week high of $21.00. The stock has a market capitalization of $1.91 billion, a price-to-earnings ratio of -4.65 and a beta of 3.92. The stock's 50 day simple moving average is $12.92 and its 200 day simple moving average is $11.30.

Neumora Therapeutics (NASDAQ:NMRA - Get Free Report) last announced its quarterly earnings data on Tuesday, August 6th. The company reported ($0.37) earnings per share for the quarter, hitting the consensus estimate of ($0.37). As a group, analysts anticipate that Neumora Therapeutics will post -1.48 EPS for the current year.

Insider Buying and Selling at Neumora Therapeutics

In other news, CFO Joshua Pinto sold 31,642 shares of Neumora Therapeutics stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $11.78, for a total value of $372,742.76. Following the completion of the sale, the chief financial officer now directly owns 154,658 shares in the company, valued at approximately $1,821,871.24. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Matthew K. Fust sold 14,049 shares of the business's stock in a transaction on Friday, October 18th. The stock was sold at an average price of $17.03, for a total transaction of $239,254.47. Following the completion of the transaction, the director now owns 20,100 shares of the company's stock, valued at approximately $342,303. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Joshua Pinto sold 31,642 shares of the business's stock in a transaction on Monday, August 26th. The stock was sold at an average price of $11.78, for a total value of $372,742.76. Following the transaction, the chief financial officer now directly owns 154,658 shares of the company's stock, valued at $1,821,871.24. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 110,538 shares of company stock valued at $1,390,513 in the last quarter. Company insiders own 26.40% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of NMRA. Auour Investments LLC acquired a new position in shares of Neumora Therapeutics during the third quarter worth $3,302,000. Ballentine Partners LLC acquired a new position in Neumora Therapeutics in the 3rd quarter valued at approximately $178,000. Clarius Group LLC acquired a new stake in Neumora Therapeutics in the third quarter valued at $224,000. Handelsbanken Fonder AB increased its stake in shares of Neumora Therapeutics by 35.0% in the third quarter. Handelsbanken Fonder AB now owns 26,600 shares of the company's stock valued at $351,000 after buying an additional 6,900 shares during the period. Finally, Quarry LP acquired a new stake in Neumora Therapeutics during the 2nd quarter valued at approximately $98,000. Institutional investors and hedge funds own 47.65% of the company's stock.

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.