Neumora Therapeutics (NASDAQ:NMRA) Rating Lowered to “Market Perform” at William Blair

Neumora Therapeutics (NASDAQ:NMRA) was downgraded by equities researchers at William Blair from an “outperform” rating to a “market perform” rating in a research note issued on Monday, Marketbeat Ratings reports.

Other equities research analysts also recently issued reports about the company. Stifel Nicolaus downgraded Neumora Therapeutics from a “buy” rating to a “hold” rating and decreased their price target for the stock from $6.00 to $2.00 in a report on Friday, March 7th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $4.00 price objective on shares of Neumora Therapeutics in a research report on Tuesday, March 4th. Bank of America cut their price objective on Neumora Therapeutics from $22.00 to $7.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Guggenheim cut Neumora Therapeutics from a “buy” rating to a “neutral” rating in a research report on Friday, March 7th. Finally, HC Wainwright cut their price objective on Neumora Therapeutics from $30.00 to $18.00 and set a “buy” rating for the company in a research report on Tuesday, March 4th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Neumora Therapeutics has a consensus rating of “Hold” and a consensus price target of $10.14.

Neumora Therapeutics Price Performance

Shares of NASDAQ NMRA opened at $1.43 on Monday. The stock has a fifty day moving average price of $2.06 and a 200 day moving average price of $8.44. Neumora Therapeutics has a 1-year low of $1.26 and a 1-year high of $18.61. The company has a market cap of $231.63 million, a PE ratio of -0.76 and a beta of 2.59.

Neumora Therapeutics (NASDAQ:NMRA) last issued its quarterly earnings results on Thursday, March 6th. The company reported ($0.37) earnings per share for the quarter, topping the consensus estimate of ($0.46) by $0.09. Analysts anticipate that Neumora Therapeutics will post -1.61 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in NMRA. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Neumora Therapeutics during the 4th quarter worth about $61,000. PNC Financial Services Group Inc. purchased a new stake in Neumora Therapeutics during the 4th quarter worth about $64,000. Quantbot Technologies LP purchased a new stake in Neumora Therapeutics during the 4th quarter worth about $92,000. PEAK6 LLC purchased a new stake in Neumora Therapeutics during the 4th quarter worth about $117,000. Finally, EntryPoint Capital LLC purchased a new stake in Neumora Therapeutics during the 4th quarter worth about $135,000. Hedge funds and other 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.