Neumora Therapeutics (NASDAQ:NMRA) Downgraded to Market Perform Rating by William Blair

William Blair downgraded shares of Neumora Therapeutics (NASDAQ:NMRA) from an outperform rating to a market perform rating in a report issued on Monday, MarketBeat Ratings reports.

Other equities analysts have also issued reports about the company. Bank of America reduced their target price on Neumora Therapeutics from $22.00 to $7.00 and set a “buy” rating for the company in a report on Monday, January 6th. HC Wainwright reduced their price objective on Neumora Therapeutics from $30.00 to $18.00 and set a “buy” rating for the company in a research note on Tuesday, March 4th. Needham & Company LLC reaffirmed a “buy” rating and set a $5.00 target price on shares of Neumora Therapeutics in a research report on Tuesday, March 4th. Guggenheim downgraded shares of Neumora Therapeutics from a “buy” rating to a “neutral” rating in a report on Friday. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $4.00 price objective on shares of Neumora Therapeutics in a report on Tuesday, March 4th. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Neumora Therapeutics currently has a consensus rating of “Hold” and an average target price of $10.14.

Neumora Therapeutics Trading Down 10.1 %

Shares of NASDAQ:NMRA opened at $1.34 on Monday. Neumora Therapeutics has a 1-year low of $1.30 and a 1-year high of $18.61. The stock has a market cap of $217.05 million, a PE ratio of -0.72 and a beta of 2.59. The stock’s fifty day simple moving average is $2.24 and its two-hundred day simple moving average is $8.52.

Neumora Therapeutics (NASDAQ:NMRA) last released its quarterly earnings results on Thursday, March 6th. The company reported ($0.37) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.46) by $0.09. On average, sell-side analysts forecast that Neumora Therapeutics will post -1.61 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Neumora Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Windmill Hill Asset Management Ltd lifted its stake in shares of Neumora Therapeutics by 299.6% during the 4th quarter. Windmill Hill Asset Management Ltd now owns 104,373 shares of the company’s stock valued at $1,106,000 after buying an additional 78,252 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in shares of Neumora Therapeutics during the fourth quarter worth $770,000. Wexford Capital LP boosted its holdings in shares of Neumora Therapeutics by 15.7% in the fourth quarter. Wexford Capital LP now owns 252,122 shares of the company’s stock worth $2,672,000 after acquiring an additional 34,243 shares during the period. Toronto Dominion Bank bought a new position in shares of Neumora Therapeutics in the fourth quarter worth $364,000. Finally, Stempoint Capital LP purchased a new position in shares of Neumora Therapeutics in the fourth quarter valued at $4,538,000. Institutional investors 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.