William Blair Downgrades Neumora Therapeutics (NASDAQ:NMRA) to Market Perform

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

NMRA has been the subject of several other research reports. Royal Bank of Canada reissued a “sector perform” rating and set a $4.00 price objective on shares of Neumora Therapeutics in a report on Tuesday, March 4th. Guggenheim lowered shares of Neumora Therapeutics from a “buy” rating to a “neutral” rating in a report on Friday. HC Wainwright dropped their price objective on shares of Neumora Therapeutics from $30.00 to $18.00 and set a “buy” rating for the company in a report on Tuesday, March 4th. Bank of America reduced their target price on Neumora Therapeutics from $22.00 to $7.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Finally, Stifel Nicolaus downgraded Neumora Therapeutics from a “buy” rating to a “hold” rating and lowered their price target for the company from $6.00 to $2.00 in a research report on Friday. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Neumora Therapeutics currently has an average rating of “Hold” and a consensus price target of $10.14.

Neumora Therapeutics Price Performance

Shares of NASDAQ:NMRA opened at $1.34 on Monday. The firm has a fifty day moving average price of $2.24 and a two-hundred day moving average price of $8.52. The company has a market cap of $217.05 million, a price-to-earnings ratio of -0.72 and a beta of 2.59. Neumora Therapeutics has a one year low of $1.30 and a one year high of $18.61.

Neumora Therapeutics (NASDAQ:NMRA) last posted its quarterly earnings data on Thursday, March 6th. The company reported ($0.37) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.46) by $0.09. Equities research analysts expect that Neumora Therapeutics will post -1.61 EPS for the current fiscal year.

Institutional Trading of Neumora Therapeutics

Several institutional investors have recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Neumora Therapeutics in the fourth quarter worth about $61,000. PNC Financial Services Group Inc. purchased a new position in Neumora Therapeutics in the 4th quarter worth approximately $64,000. Quantbot Technologies LP bought a new stake in Neumora Therapeutics in the fourth quarter valued at approximately $92,000. PEAK6 LLC bought a new stake in Neumora Therapeutics in the fourth quarter valued at approximately $117,000. Finally, EntryPoint Capital LLC purchased a new stake in shares of Neumora Therapeutics during the fourth quarter valued at approximately $135,000. 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.