Neumora Therapeutics (NASDAQ:NMRA) Downgraded to Sector Perform Rating by Royal Bank of Canada

Royal Bank of Canada cut shares of Neumora Therapeutics (NASDAQ:NMRA) from an outperform rating to a sector perform rating in a report published on Thursday, MarketBeat Ratings reports. The firm currently has $4.00 price target on the stock, down from their previous price target of $29.00.

A number of other research firms have also weighed in on NMRA. JPMorgan Chase & Co. lowered shares of Neumora Therapeutics from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $18.00 to $15.00 in a research note on Tuesday, November 5th. HC Wainwright restated a “buy” rating and issued a $30.00 price objective on shares of Neumora Therapeutics in a report on Monday, December 16th. Finally, Needham & Company LLC restated a “buy” rating and set a $23.00 price target on shares of Neumora Therapeutics in a research report on Thursday. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Neumora Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $18.40.

Neumora Therapeutics Stock Performance

NASDAQ NMRA opened at $1.97 on Thursday. Neumora Therapeutics has a fifty-two week low of $1.83 and a fifty-two week high of $21.00. The firm has a market capitalization of $318.28 million, a P/E ratio of -1.05 and a beta of 3.34. The stock has a 50-day simple moving average of $10.89 and a two-hundred day simple moving average of $11.59.

Neumora Therapeutics (NASDAQ:NMRA) last posted its earnings results on Tuesday, November 12th. The company reported ($0.45) earnings per share for the quarter, missing the consensus estimate of ($0.39) by ($0.06). During the same quarter in the previous year, the firm earned ($1.14) EPS. As a group, analysts forecast that Neumora Therapeutics will post -1.61 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Matthew K. Fust sold 14,049 shares of the business’s stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $17.03, for a total value of $239,254.47. Following the transaction, the director now owns 20,100 shares of the company’s stock, valued at approximately $342,303. The trade was a 41.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Robert A. Lenz sold 5,563 shares of the business’s stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $15.01, for a total value of $83,500.63. Following the transaction, the insider now owns 322,966 shares in the company, valued at $4,847,719.66. The trade was a 1.69 % decrease in their position. The disclosure for this sale can be found here. 26.40% of the stock is currently owned by company insiders.

Institutional Trading of Neumora Therapeutics

A number of institutional investors have recently bought and sold shares of the company. Amalgamated Bank grew its holdings in Neumora Therapeutics by 472.8% during the 2nd quarter. Amalgamated Bank now owns 2,910 shares of the company’s stock valued at $29,000 after buying an additional 2,402 shares during the last quarter. Quarry LP acquired a new position in Neumora Therapeutics during the second quarter worth approximately $98,000. SkyOak Wealth LLC acquired a new position in shares of Neumora Therapeutics in the 2nd quarter valued at about $147,000. Principal Financial Group Inc. purchased a new stake in shares of Neumora Therapeutics in the second quarter worth about $166,000. Finally, Intech Investment Management LLC acquired a new stake in Neumora Therapeutics during the 3rd quarter valued at $175,000. 47.65% of the stock is currently owned by hedge funds and other institutional investors.

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.