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

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 topic of a number of other research reports. Stifel Nicolaus downgraded shares of Neumora Therapeutics from a “buy” rating to a “hold” rating and cut their target price for the company from $6.00 to $2.00 in a research report on Friday, March 7th. Guggenheim downgraded shares of Neumora Therapeutics from a “buy” rating to a “neutral” rating in a research report on Friday, March 7th. Bank of America cut their target price on shares of Neumora Therapeutics from $22.00 to $7.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. HC Wainwright cut their target price on shares of Neumora Therapeutics from $30.00 to $18.00 and set a “buy” rating on the stock in a research report on Tuesday, March 4th. Finally, Needham & Company LLC reissued a “buy” rating and set a $5.00 target price on shares of Neumora Therapeutics in a research report on Tuesday, March 4th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Neumora Therapeutics currently has a consensus rating of “Hold” and a consensus price target of $10.14.

Neumora Therapeutics Price Performance

Shares of NMRA opened at $1.38 on Monday. Neumora Therapeutics has a 1-year low of $1.26 and a 1-year high of $17.19. The company has a 50-day moving average of $1.88 and a 200 day moving average of $8.40. The firm has a market capitalization of $223.53 million, a price-to-earnings ratio of -0.74 and a beta of 2.59.

Neumora Therapeutics (NASDAQ:NMRA) last announced its quarterly earnings data on Thursday, March 6th. The company reported ($0.37) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.46) by $0.09. On average, equities analysts anticipate that Neumora Therapeutics will post -1.61 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of NMRA. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Neumora Therapeutics in the 4th quarter worth approximately $61,000. PNC Financial Services Group Inc. acquired a new stake in Neumora Therapeutics in the 4th quarter worth approximately $64,000. Quantbot Technologies LP acquired a new stake in Neumora Therapeutics in the 4th quarter worth approximately $92,000. PEAK6 LLC acquired a new stake in Neumora Therapeutics in the 4th quarter worth approximately $117,000. Finally, EntryPoint Capital LLC acquired a new stake in Neumora Therapeutics in the 4th quarter worth approximately $135,000. 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.