William Blair Reiterates Outperform Rating for Neumora Therapeutics (NASDAQ:NMRA)

Neumora Therapeutics (NASDAQ:NMRA - Get Free Report)'s stock had its "outperform" rating reiterated by equities researchers at William Blair in a research report issued to clients and investors on Wednesday,RTT News reports.

Other equities research analysts have also recently issued research reports about the stock. HC Wainwright reissued a "buy" rating and set a $30.00 price target on shares of Neumora Therapeutics in a research report on Friday, January 3rd. JPMorgan Chase & Co. cut Neumora Therapeutics from an "overweight" rating to a "neutral" rating and cut their target price for the stock from $18.00 to $15.00 in a research note on Tuesday, November 5th. Needham & Company LLC reaffirmed a "buy" rating and set a $23.00 price target on shares of Neumora Therapeutics in a research report on Thursday, January 2nd. Royal Bank of Canada lowered Neumora Therapeutics from an "outperform" rating to a "sector perform" rating and cut their price objective for the stock from $29.00 to $4.00 in a research report on Thursday, January 2nd. Finally, 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 report on Monday, January 6th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $16.50.

Neumora Therapeutics Trading Down 1.4 %

Shares of NASDAQ:NMRA traded down $0.03 on Wednesday, reaching $2.17. 2,215,271 shares of the company traded hands, compared to its average volume of 11,149,993. Neumora Therapeutics has a 52 week low of $1.83 and a 52 week high of $21.00. The business's 50-day simple moving average is $8.95 and its 200 day simple moving average is $11.11. The stock has a market capitalization of $350.59 million, a P/E ratio of -1.16 and a beta of 2.71.

Neumora Therapeutics (NASDAQ:NMRA - Get Free Report) last announced its quarterly 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 last year, the firm earned ($1.14) earnings per share. Sell-side analysts expect that Neumora Therapeutics will post -1.61 EPS for the current fiscal year.

Insiders Place Their Bets

In other Neumora Therapeutics news, Director Matthew K. Fust sold 14,049 shares of the company's stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $17.03, for a total value of $239,254.47. Following the sale, the director now owns 20,100 shares in the company, valued at approximately $342,303. This represents a 41.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 26.40% of the stock is owned by corporate insiders.

Institutional Trading of Neumora Therapeutics

A number of hedge funds have recently made changes to their positions in NMRA. Rhumbline Advisers increased its position in Neumora Therapeutics by 488.3% during the 2nd quarter. Rhumbline Advisers now owns 103,258 shares of the company's stock valued at $1,015,000 after buying an additional 85,706 shares in the last quarter. Amalgamated Bank increased its holdings in shares of Neumora Therapeutics by 472.8% during the second quarter. Amalgamated Bank now owns 2,910 shares of the company's stock valued at $29,000 after acquiring an additional 2,402 shares in the last quarter. SkyOak Wealth LLC purchased a new position in shares of Neumora Therapeutics in the 2nd quarter worth about $147,000. Callan Capital LLC raised its position in shares of Neumora Therapeutics by 222.6% in the 2nd quarter. Callan Capital LLC now owns 661,194 shares of the company's stock worth $6,500,000 after purchasing an additional 456,207 shares during the last quarter. Finally, Marshall Wace LLP bought a new position in Neumora Therapeutics in the 2nd quarter worth about $1,323,000. 47.65% of the stock is owned by institutional investors.

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.