HC Wainwright Reiterates “Buy” Rating for Neumora Therapeutics (NASDAQ:NMRA)

Neumora Therapeutics (NASDAQ:NMRA)‘s stock had its “buy” rating reaffirmed by HC Wainwright in a report issued on Friday,Benzinga reports. They currently have a $30.00 target price on the stock.

Other analysts have also recently issued reports about the stock. JPMorgan Chase & Co. cut shares of Neumora Therapeutics from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $18.00 to $15.00 in a research note on Tuesday, November 5th. Bank of America lowered their price objective on shares of Neumora Therapeutics from $22.00 to $7.00 and set a “buy” rating for the company in a research note on Monday, January 6th. William Blair reissued an “outperform” rating on shares of Neumora Therapeutics in a research note on Wednesday, January 15th. Royal Bank of Canada cut shares of Neumora Therapeutics from an “outperform” rating to a “sector perform” rating and lowered their price objective for the company from $29.00 to $4.00 in a research note on Thursday, January 2nd. Finally, Needham & Company LLC reissued a “buy” rating and set a $23.00 price objective on shares of Neumora Therapeutics in a research note on Thursday, January 2nd. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $16.50.

Neumora Therapeutics Stock Performance

Shares of NMRA opened at $1.74 on Friday. The stock has a fifty day moving average of $5.17 and a two-hundred day moving average of $9.70. The company has a market capitalization of $281.11 million, a PE ratio of -0.93 and a beta of 2.50. Neumora Therapeutics has a fifty-two week low of $1.60 and a fifty-two week high of $21.00.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of NMRA. Ballentine Partners LLC acquired a new stake in shares of Neumora Therapeutics during the 3rd quarter worth approximately $178,000. Auour Investments LLC bought a new stake in Neumora Therapeutics during the third quarter worth $3,302,000. Intech Investment Management LLC acquired a new position in shares of Neumora Therapeutics in the third quarter valued at $175,000. Charles Schwab Investment Management Inc. increased its holdings 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 last quarter. Finally, Cerity Partners LLC acquired a new position in shares of Neumora Therapeutics in the third quarter valued at about $3,209,000. 47.65% of the stock is currently owned by institutional investors and hedge funds.

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.