Neumora Therapeutics (NASDAQ:NMRA) Given “Underperform” Rating at Bank of America

Bank of America reiterated their underperform rating on shares of Neumora Therapeutics (NASDAQ:NMRA) in a research report sent to investors on Wednesday morning, MarketBeat reports. They currently have a $1.00 target price on the stock, down from their prior target price of $7.00.

A number of other equities analysts have also commented on NMRA. HC Wainwright cut their price target on Neumora Therapeutics from $30.00 to $18.00 and set a “buy” rating for the company in a report on Tuesday, March 4th. Stifel Nicolaus downgraded Neumora Therapeutics from a “buy” rating to a “hold” rating and cut their target price for the stock from $6.00 to $2.00 in a research note on Friday, March 7th. Royal Bank of Canada reiterated a “sector perform” rating and set a $4.00 price target on shares of Neumora Therapeutics in a research report on Tuesday, March 4th. Guggenheim lowered shares of Neumora Therapeutics from a “buy” rating to a “neutral” rating in a research report on Friday, March 7th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $5.00 price objective on shares of Neumora Therapeutics in a research note on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $9.29.

Neumora Therapeutics Stock Performance

Shares of NMRA opened at $0.94 on Wednesday. The firm has a market cap of $152.33 million, a P/E ratio of -0.50 and a beta of 2.59. Neumora Therapeutics has a fifty-two week low of $0.89 and a fifty-two week high of $17.19. The business has a 50-day moving average of $1.55 and a 200 day moving average of $7.33.

Neumora Therapeutics (NASDAQ:NMRA) last posted its quarterly earnings results 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. As a group, research analysts predict 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 hedge funds and other institutional investors have recently bought and sold shares of the stock. California State Teachers Retirement System lifted its holdings in shares of Neumora Therapeutics by 793.5% during the 4th quarter. California State Teachers Retirement System now owns 54,457 shares of the company’s stock worth $577,000 after acquiring an additional 48,362 shares during the last quarter. Windmill Hill Asset Management Ltd increased its stake in Neumora Therapeutics by 299.6% in the fourth quarter. Windmill Hill Asset Management Ltd now owns 104,373 shares of the company’s stock valued at $1,106,000 after acquiring an additional 78,252 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in Neumora Therapeutics during the fourth quarter valued at about $770,000. Wexford Capital LP lifted its stake in Neumora Therapeutics by 15.7% during the fourth quarter. Wexford Capital LP now owns 252,122 shares of the company’s stock worth $2,672,000 after purchasing an additional 34,243 shares during the last quarter. Finally, Toronto Dominion Bank purchased a new position in shares of Neumora Therapeutics in the 4th quarter worth about $364,000. Hedge funds and other 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.