Neumora Therapeutics (NASDAQ:NMRA) Receives Buy Rating from Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Neumora Therapeutics (NASDAQ:NMRA - Free Report) in a research report released on Thursday,Benzinga reports. Needham & Company LLC currently has a $5.00 target price on the stock.

Several other analysts have also issued reports on NMRA. William Blair lowered shares of Neumora Therapeutics from an "outperform" rating to a "market perform" rating in a report on Monday, March 10th. Bank of America reissued an "underperform" rating and issued a $1.00 price target (down from $7.00) on shares of Neumora Therapeutics in a research note on Wednesday, April 2nd. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $4.00 price objective on shares of Neumora Therapeutics in a research report on Tuesday, March 4th. HC Wainwright decreased their price target on Neumora Therapeutics from $30.00 to $18.00 and set a "buy" rating on the stock in a research note on Tuesday, March 4th. Finally, Guggenheim downgraded Neumora Therapeutics from a "buy" rating to a "neutral" rating in a report on Friday, March 7th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Neumora Therapeutics has an average rating of "Hold" and a consensus target price of $9.29.

Neumora Therapeutics Stock Down 3.4 %

Shares of Neumora Therapeutics stock traded down $0.02 during mid-day trading on Thursday, hitting $0.65. The stock had a trading volume of 545,975 shares, compared to its average volume of 2,971,022. The firm has a market cap of $104.82 million, a P/E ratio of -0.35 and a beta of 2.89. The firm has a 50-day moving average of $1.30 and a two-hundred day moving average of $6.50. Neumora Therapeutics has a 12-month low of $0.62 and a 12-month high of $17.19.

Neumora Therapeutics (NASDAQ:NMRA - Get Free Report) last issued its quarterly earnings data on Thursday, March 6th. The company reported ($0.37) earnings per share for the quarter, topping the consensus estimate of ($0.46) by $0.09. Sell-side analysts expect that Neumora Therapeutics will post -1.61 earnings per share for the current year.

Institutional Investors Weigh In On Neumora Therapeutics

Hedge funds have recently bought and sold shares of the stock. State Street Corp raised its holdings in Neumora Therapeutics by 65.3% in the third quarter. State Street Corp now owns 1,790,707 shares of the company's stock valued at $23,655,000 after acquiring an additional 707,409 shares in the last quarter. Barclays PLC raised its holdings in shares of Neumora Therapeutics by 352.9% in the 3rd quarter. Barclays PLC now owns 129,210 shares of the company's stock valued at $1,708,000 after purchasing an additional 100,678 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Neumora Therapeutics by 54.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,979,847 shares of the company's stock worth $26,159,000 after purchasing an additional 694,385 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Neumora Therapeutics by 2.6% during the third quarter. JPMorgan Chase & Co. now owns 64,421 shares of the company's stock worth $851,000 after purchasing an additional 1,629 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. purchased a new position in Neumora Therapeutics in the fourth quarter valued at $363,000. Institutional investors and hedge funds 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.