Neumora Therapeutics (NASDAQ:NMRA) Downgraded to Sector Perform Rating by Royal Bank of Canada

Royal Bank of Canada downgraded shares of Neumora Therapeutics (NASDAQ:NMRA - Free Report) from an outperform rating to a sector perform rating in a research note released on Thursday, MarketBeat.com reports. They currently have $4.00 price target on the stock, down from their previous price target of $29.00.

Several other research firms have also recently commented on NMRA. HC Wainwright reaffirmed a "buy" rating and set a $30.00 price objective on shares of Neumora Therapeutics in a research report on Monday, December 16th. Needham & Company LLC reissued a "buy" rating and set a $23.00 price objective on shares of Neumora Therapeutics in a report on Thursday. Finally, JPMorgan Chase & Co. cut shares of Neumora Therapeutics from an "overweight" rating to a "neutral" rating and dropped their target price for the stock from $18.00 to $15.00 in a report on Tuesday, November 5th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $18.40.

Neumora Therapeutics Stock Down 81.4 %

Neumora Therapeutics stock traded down $8.63 during trading hours on Thursday, hitting $1.97. The stock had a trading volume of 44,511,355 shares, compared to its average volume of 751,982. The stock's 50-day moving average price is $10.89 and its 200-day moving average price is $11.59. Neumora Therapeutics has a 12-month low of $1.83 and a 12-month high of $21.00. The stock has a market capitalization of $318.28 million, a P/E ratio of -1.05 and a beta of 3.34.

Neumora Therapeutics (NASDAQ:NMRA - Get Free Report) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.45) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.39) by ($0.06). During the same quarter last year, the company earned ($1.14) earnings per share. On average, research analysts expect that Neumora Therapeutics will post -1.61 EPS for the current fiscal year.

Insider Activity at Neumora Therapeutics

In other Neumora Therapeutics news, insider Robert A. Lenz sold 5,563 shares of the firm's stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $15.01, for a total transaction of $83,500.63. Following the sale, the insider now directly owns 322,966 shares of the company's stock, valued at $4,847,719.66. This trade represents a 1.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Matthew K. Fust sold 14,049 shares of Neumora Therapeutics stock in a transaction that occurred on 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 directly owns 20,100 shares in the company, valued at $342,303. This trade represents a 41.14 % decrease in their position. The disclosure for this sale can be found here. 26.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Neumora Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Amalgamated Bank increased its holdings in shares of Neumora Therapeutics by 472.8% in the 2nd 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. Quarry LP purchased a new position in Neumora Therapeutics in the second quarter worth about $98,000. Intech Investment Management LLC bought a new stake in Neumora Therapeutics during the third quarter worth approximately $175,000. Ballentine Partners LLC purchased a new stake in Neumora Therapeutics during the third quarter valued at approximately $178,000. Finally, SkyOak Wealth LLC bought a new stake in shares of Neumora Therapeutics in the 2nd quarter valued at approximately $147,000. 47.65% of the stock is owned by institutional investors.

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.