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 released on Thursday, Marketbeat Ratings reports. The firm currently has $4.00 target price on the stock, down from their previous target price of $29.00.

Several other research firms have also issued reports on NMRA. HC Wainwright restated a “buy” rating and issued a $30.00 price target on shares of Neumora Therapeutics in a research report on Monday, December 16th. JPMorgan Chase & Co. cut shares of Neumora Therapeutics from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $18.00 to $15.00 in a report on Tuesday, November 5th. Finally, Needham & Company LLC reissued a “buy” rating and issued 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 issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $18.40.

Neumora Therapeutics Price Performance

Shares of NMRA opened at $1.97 on Thursday. Neumora Therapeutics has a 12 month low of $1.83 and a 12 month high of $21.00. The stock has a fifty day moving average price of $10.89 and a 200 day moving average price of $11.59. The company has a market cap of $318.28 million, a P/E ratio of -1.05 and a beta of 3.34.

Neumora Therapeutics (NASDAQ:NMRA) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.45) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.06). During the same period last year, the company earned ($1.14) earnings per share. As a group, research analysts anticipate that Neumora Therapeutics will post -1.61 earnings per share for the current year.

Insider Activity

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

Hedge Funds Weigh In On Neumora Therapeutics

A number of large investors have recently made changes to their positions in NMRA. State Street Corp increased its holdings 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 period. Geode Capital Management LLC raised its holdings in shares of Neumora Therapeutics by 54.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,979,847 shares of the company’s stock worth $26,159,000 after purchasing an additional 694,385 shares during the period. Callan Capital LLC lifted its position in shares of Neumora Therapeutics by 222.6% during the 2nd quarter. Callan Capital LLC now owns 661,194 shares of the company’s stock valued at $6,500,000 after buying an additional 456,207 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Neumora Therapeutics by 139.7% during the third 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 period. Finally, Auour Investments LLC purchased a new position in Neumora Therapeutics in the 3rd quarter valued at approximately $3,302,000. 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.