Neumora Therapeutics (NASDAQ:NMRA) Downgraded by William Blair to Market Perform

William Blair lowered shares of Neumora Therapeutics (NASDAQ:NMRA) from an outperform rating to a market perform rating in a research note issued to investors on Monday, MarketBeat Ratings reports.

Several other brokerages have also recently commented on NMRA. Bank of America decreased their price objective on shares of Neumora Therapeutics from $22.00 to $7.00 and set a “buy” rating for the company in a research note on Monday, January 6th. HC Wainwright decreased their target price on shares of Neumora Therapeutics from $30.00 to $18.00 and set a “buy” rating for the company in a research note on Tuesday, March 4th. Needham & Company LLC reiterated a “buy” rating and issued a $5.00 target price on shares of Neumora Therapeutics in a research note on Tuesday, March 4th. Guggenheim cut shares of Neumora Therapeutics from a “buy” rating to a “neutral” rating in a research note on Friday, March 7th. Finally, Stifel Nicolaus cut shares of Neumora Therapeutics from a “buy” rating to a “hold” rating and decreased their target price for the company from $6.00 to $2.00 in a research note on Friday, March 7th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $10.14.

Neumora Therapeutics Stock Down 3.5 %

NMRA stock opened at $1.38 on Monday. The firm has a 50 day moving average of $1.88 and a 200 day moving average of $8.40. The stock has a market capitalization of $223.53 million, a PE ratio of -0.74 and a beta of 2.59. Neumora Therapeutics has a 52 week low of $1.26 and a 52 week high of $17.19.

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

Institutional Investors Weigh In On Neumora Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in NMRA. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Neumora Therapeutics in the 4th quarter worth $61,000. PNC Financial Services Group Inc. purchased a new stake in Neumora Therapeutics in the 4th quarter worth $64,000. Quantbot Technologies LP purchased a new stake in Neumora Therapeutics in the 4th quarter worth $92,000. PEAK6 LLC purchased a new stake in Neumora Therapeutics in the 4th quarter worth $117,000. Finally, EntryPoint Capital LLC purchased a new stake in Neumora Therapeutics in the 4th quarter worth $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.