Neumora Therapeutics (NASDAQ:NMRA) Receives Underperform Rating from Bank of America

Bank of America reaffirmed their underperform rating on shares of Neumora Therapeutics (NASDAQ:NMRA - Free Report) in a research report released on Wednesday morning, Marketbeat reports. They currently have a $1.00 target price on the stock, down from their prior target price of $7.00.

NMRA has been the subject of a number of other research reports. Stifel Nicolaus lowered shares of Neumora Therapeutics from a "buy" rating to a "hold" rating and cut their price objective for the company from $6.00 to $2.00 in a research report on Friday, March 7th. Needham & Company LLC reiterated a "buy" rating and issued a $5.00 price target on shares of Neumora Therapeutics in a report on Tuesday, March 4th. Guggenheim cut shares of Neumora Therapeutics from a "buy" rating to a "neutral" rating in a research note on Friday, March 7th. William Blair lowered Neumora Therapeutics from an "outperform" rating to a "market perform" rating in a research report on Monday, March 10th. Finally, Royal Bank of Canada reissued a "sector perform" rating and set a $4.00 price target on shares of Neumora Therapeutics in a research report on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $9.29.

Neumora Therapeutics Price Performance

NASDAQ:NMRA traded down $0.03 during trading hours on Wednesday, reaching $0.71. 537,964 shares of the company traded hands, compared to its average volume of 1,455,182. Neumora Therapeutics has a 1-year low of $0.65 and a 1-year high of $17.19. The stock has a market cap of $114.36 million, a P/E ratio of -0.38 and a beta of 2.89. The firm's 50-day moving average is $1.49 and its 200-day moving average is $7.14.

Neumora Therapeutics (NASDAQ:NMRA - Get Free Report) last posted its quarterly earnings data on Thursday, March 6th. The company reported ($0.37) EPS for the quarter, beating analysts' consensus estimates of ($0.46) by $0.09. As a group, research analysts predict that Neumora Therapeutics will post -1.61 earnings per share for the current year.

Institutional Investors Weigh In On Neumora Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the stock. Intech Investment Management LLC purchased a new position in Neumora Therapeutics in the 3rd quarter worth approximately $175,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Neumora Therapeutics by 139.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 698,255 shares of the company's stock valued at $9,224,000 after purchasing an additional 406,891 shares during the period. Point72 Asset Management L.P. acquired a new stake in Neumora Therapeutics during the 3rd quarter valued at $1,097,000. State Street Corp boosted its position in Neumora Therapeutics by 65.3% in the 3rd quarter. State Street Corp now owns 1,790,707 shares of the company's stock valued at $23,655,000 after buying an additional 707,409 shares during the last quarter. Finally, Wexford Capital LP grew its stake in shares of Neumora Therapeutics by 90.1% during the third quarter. Wexford Capital LP now owns 217,879 shares of the company's stock valued at $2,878,000 after acquiring an additional 103,285 shares in the last quarter. Hedge funds and other institutional investors 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.