Neumora Therapeutics' (NMRA) Underperform Rating Reaffirmed at Bank of America

Bank of America restated their underperform rating on shares of Neumora Therapeutics (NASDAQ:NMRA - Free Report) in a research report report published on Wednesday morning, MarketBeat reports. Bank of America currently has a $1.00 price objective on the stock, down from their prior price objective of $7.00.

A number of other brokerages also recently commented on NMRA. Stifel Nicolaus downgraded shares of Neumora Therapeutics from a "buy" rating to a "hold" rating and cut their target price for the company from $6.00 to $2.00 in a research note on Friday, March 7th. Needham & Company LLC reissued a "buy" rating and issued a $5.00 price objective on shares of Neumora Therapeutics in a research report on Tuesday, March 4th. Royal Bank of Canada reiterated a "sector perform" rating and issued a $4.00 target price on shares of Neumora Therapeutics in a research note on Tuesday, March 4th. HC Wainwright reduced their price target 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. Finally, William Blair downgraded shares of Neumora Therapeutics from an "outperform" rating to a "market perform" rating in a research report on Monday, March 10th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $9.29.

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Neumora Therapeutics Trading Down 13.3 %

NASDAQ:NMRA traded down $0.11 on Wednesday, hitting $0.74. 1,776,110 shares of the stock were exchanged, compared to its average volume of 1,455,833. The stock has a fifty day moving average of $1.49 and a 200-day moving average of $7.20. The stock has a market cap of $119.30 million, a PE ratio of -0.39 and a beta of 2.59. Neumora Therapeutics has a fifty-two week low of $0.71 and a fifty-two week high of $17.19.

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

Hedge Funds Weigh In On Neumora Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in the business. Intech Investment Management LLC acquired a new stake in Neumora Therapeutics in the third quarter valued at $175,000. Charles Schwab Investment Management Inc. increased its position in shares of Neumora Therapeutics by 139.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 698,255 shares of the company's stock worth $9,224,000 after purchasing an additional 406,891 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of Neumora Therapeutics in the 3rd quarter valued at about $1,097,000. State Street Corp lifted its position in shares of Neumora Therapeutics by 65.3% during the third quarter. State Street Corp now owns 1,790,707 shares of the company's stock worth $23,655,000 after purchasing an additional 707,409 shares during the last quarter. Finally, Wexford Capital LP lifted its position 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 worth $2,878,000 after purchasing an additional 103,285 shares during the last quarter. 47.65% of the stock is currently owned by hedge funds and other 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.