Neumora Therapeutics (NASDAQ:NMRA) Stock Price Down 5.7%

Shares of Neumora Therapeutics, Inc. (NASDAQ:NMRA) dropped 5.7% during mid-day trading on Thursday . The company traded as low as $11.38 and last traded at $11.43. Approximately 174,001 shares traded hands during trading, a decline of 71% from the average daily volume of 608,047 shares. The stock had previously closed at $12.12.

Wall Street Analysts Forecast Growth

NMRA has been the topic of several research analyst reports. Mizuho began coverage on Neumora Therapeutics in a research note on Monday, July 8th. They set an “outperform” rating and a $20.00 price target on the stock. Needham & Company LLC reiterated a “buy” rating and set a $23.00 target price on shares of Neumora Therapeutics in a research report on Wednesday, August 7th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $22.33.

Neumora Therapeutics Price Performance

The business’s fifty day moving average is $11.02 and its 200-day moving average is $12.36.

Neumora Therapeutics (NASDAQ:NMRA) last issued its earnings results on Tuesday, August 6th. The company reported ($0.37) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.37). As a group, equities analysts anticipate that Neumora Therapeutics, Inc. will post -1.46 EPS for the current year.

Hedge Funds Weigh In On Neumora Therapeutics

Institutional investors have recently modified their holdings of the company. Avidity Partners Management LP grew its position in shares of Neumora Therapeutics by 10.6% during the fourth quarter. Avidity Partners Management LP now owns 1,990,632 shares of the company’s stock worth $33,940,000 after acquiring an additional 190,632 shares during the last quarter. Price T Rowe Associates Inc. MD bought a new position in shares of Neumora Therapeutics during the first quarter worth about $10,354,000. SG Americas Securities LLC bought a new position in shares of Neumora Therapeutics during the second quarter worth about $566,000. New York State Common Retirement Fund bought a new position in shares of Neumora Therapeutics during the fourth quarter worth about $118,000. Finally, Amalgamated Bank bought a new position in shares of Neumora Therapeutics during the fourth quarter worth about $29,000. 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.