William Blair Reiterates “Outperform” Rating for Neumora Therapeutics (NASDAQ:NMRA)

Neumora Therapeutics (NASDAQ:NMRA)‘s stock had its “outperform” rating reissued by stock analysts at William Blair in a research note issued on Wednesday,RTT News reports.

Other analysts have also recently issued reports about the stock. HC Wainwright restated a “buy” rating and set a $30.00 target price on shares of Neumora Therapeutics in a research report on Friday, January 3rd. Royal Bank of Canada downgraded Neumora Therapeutics from an “outperform” rating to a “sector perform” rating and decreased their price objective for the company from $29.00 to $4.00 in a research report on Thursday, January 2nd. Needham & Company LLC reiterated a “buy” rating and issued a $23.00 target price on shares of Neumora Therapeutics in a report on Thursday, January 2nd. Bank of America decreased their price target on Neumora Therapeutics from $22.00 to $7.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Finally, JPMorgan Chase & Co. lowered shares of Neumora Therapeutics from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $18.00 to $15.00 in a research note on Tuesday, November 5th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Neumora Therapeutics presently has an average rating of “Moderate Buy” and a consensus target price of $16.50.

Neumora Therapeutics Price Performance

NASDAQ NMRA opened at $2.28 on Wednesday. Neumora Therapeutics has a 1-year low of $1.83 and a 1-year high of $21.00. The business has a 50 day simple moving average of $9.16 and a two-hundred day simple moving average of $11.17. The stock has a market capitalization of $368.36 million, a PE ratio of -1.22 and a beta of 2.71.

Neumora Therapeutics (NASDAQ:NMRA) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.45) earnings per share for the quarter, missing the consensus estimate of ($0.39) by ($0.06). During the same period in the prior year, the company posted ($1.14) EPS. On average, analysts anticipate that Neumora Therapeutics will post -1.61 EPS for the current fiscal year.

Insider Activity at Neumora Therapeutics

In other Neumora Therapeutics news, Director Matthew K. Fust sold 14,049 shares of the firm’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 transaction, the director now directly owns 20,100 shares in the company, valued at $342,303. This trade represents a 41.14 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 26.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Neumora Therapeutics

Several hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC increased its stake in shares of Neumora Therapeutics by 54.0% during the third quarter. Geode Capital Management LLC now owns 1,979,847 shares of the company’s stock valued at $26,159,000 after buying an additional 694,385 shares during the period. State Street Corp increased its holdings in Neumora Therapeutics by 65.3% during the third 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. Charles Schwab Investment Management Inc. increased its holdings 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 valued at $9,224,000 after buying an additional 406,891 shares during the period. Callan Capital LLC raised its stake in Neumora Therapeutics by 222.6% in the second quarter. Callan Capital LLC now owns 661,194 shares of the company’s stock worth $6,500,000 after buying an additional 456,207 shares in the last quarter. Finally, Auour Investments LLC purchased a new stake in Neumora Therapeutics during the third quarter worth $3,302,000. 47.65% of the stock is currently owned by hedge funds and other institutional investors.

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.