Neumora Therapeutics (NASDAQ:NMRA) Lowered to Market Perform Rating by William Blair

Neumora Therapeutics (NASDAQ:NMRA - Get Free Report) was downgraded by analysts at William Blair from an "outperform" rating to a "market perform" rating in a research note issued to investors on Monday, Marketbeat reports.

A number of other brokerages have also recently commented on NMRA. Royal Bank of Canada restated a "sector perform" rating and issued a $4.00 price target on shares of Neumora Therapeutics in a research report on Tuesday, March 4th. Stifel Nicolaus cut Neumora Therapeutics from a "buy" rating to a "hold" rating and decreased their target price for the company from $6.00 to $2.00 in a research report on Friday, March 7th. HC Wainwright decreased their target price on Neumora Therapeutics from $30.00 to $18.00 and set a "buy" rating on the stock in a research report on Tuesday, March 4th. Guggenheim cut Neumora Therapeutics from a "buy" rating to a "neutral" rating in a research report on Friday, March 7th. Finally, Bank of America decreased their target price on Neumora Therapeutics from $22.00 to $7.00 and set a "buy" rating on the stock in a research report on Monday, January 6th. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $10.14.

Neumora Therapeutics Stock Performance

Shares of NASDAQ NMRA traded up $0.02 during mid-day trading on Monday, reaching $1.40. The company had a trading volume of 1,468,554 shares, compared to its average volume of 1,429,100. Neumora Therapeutics has a one year low of $1.26 and a one year high of $17.19. The firm has a market cap of $226.77 million, a price-to-earnings ratio of -0.75 and a beta of 2.59. The business's 50-day simple moving average is $1.88 and its 200 day simple moving average is $8.40.

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Neumora Therapeutics (NASDAQ:NMRA - Get Free Report) last issued its quarterly earnings results on Thursday, March 6th. The company reported ($0.37) EPS for the quarter, topping analysts' consensus estimates of ($0.46) by $0.09. On average, sell-side analysts anticipate that Neumora Therapeutics will post -1.61 EPS for the current year.

Hedge Funds Weigh In On Neumora Therapeutics

Institutional investors have recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. acquired a new position in Neumora Therapeutics in the fourth quarter valued at approximately $61,000. PNC Financial Services Group Inc. bought a new stake in Neumora Therapeutics during the fourth quarter worth $64,000. Quantbot Technologies LP bought a new stake in Neumora Therapeutics during the fourth quarter worth $92,000. PEAK6 LLC bought a new stake in Neumora Therapeutics during the fourth quarter worth $117,000. Finally, EntryPoint Capital LLC bought a new stake in Neumora Therapeutics during the fourth quarter worth $135,000. 47.65% of the stock is owned by institutional investors and hedge funds.

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.