Neumora Therapeutics (NASDAQ:NMRA) Stock Rating Lowered by Royal Bank of Canada

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

Other equities analysts also recently issued reports about the company. JPMorgan Chase & Co. downgraded Neumora Therapeutics from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $18.00 to $15.00 in a research report on Tuesday, November 5th. HC Wainwright reiterated a “buy” rating and issued a $30.00 target price on shares of Neumora Therapeutics in a report on Monday, December 16th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $23.00 target price on shares of Neumora Therapeutics in a report on Thursday. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, Neumora Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $18.40.

Neumora Therapeutics Price Performance

Shares of NMRA opened at $2.17 on Thursday. Neumora Therapeutics has a 1 year low of $1.83 and a 1 year high of $21.00. The company has a market capitalization of $350.59 million, a price-to-earnings ratio of -1.16 and a beta of 3.34. The business has a 50-day moving average of $10.47 and a 200-day moving average of $11.48.

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 in the prior year, the company posted ($1.14) earnings per share. As a group, sell-side analysts anticipate that Neumora Therapeutics will post -1.61 EPS for the current year.

Insider Activity

In other news, 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 transaction of $83,500.63. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Matthew K. Fust sold 14,049 shares of the business’s stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $17.03, for a total value of $239,254.47. Following the sale, the director now owns 20,100 shares of the company’s stock, valued at approximately $342,303. This represents a 41.14 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 26.40% of the company’s stock.

Institutional Investors Weigh In On Neumora Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. grew its holdings in Neumora Therapeutics by 2.6% during the third quarter. JPMorgan Chase & Co. now owns 64,421 shares of the company’s stock worth $851,000 after buying an additional 1,629 shares in the last quarter. Amalgamated Bank grew its holdings in Neumora Therapeutics by 472.8% during the second quarter. Amalgamated Bank now owns 2,910 shares of the company’s stock worth $29,000 after buying an additional 2,402 shares in the last quarter. Handelsbanken Fonder AB grew its holdings in Neumora Therapeutics by 35.0% during the third quarter. Handelsbanken Fonder AB now owns 26,600 shares of the company’s stock worth $351,000 after buying an additional 6,900 shares in the last quarter. Quarry LP bought a new stake in Neumora Therapeutics during the second quarter worth $98,000. Finally, Intech Investment Management LLC bought a new stake in Neumora Therapeutics during the third quarter worth $175,000. 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.