HC Wainwright Issues Pessimistic Forecast for Neumora Therapeutics (NASDAQ:NMRA) Stock Price

Neumora Therapeutics (NASDAQ:NMRA) had its price objective reduced by analysts at HC Wainwright from $30.00 to $18.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock.

A number of other research analysts also recently issued reports on the stock. Royal Bank of Canada downgraded shares of Neumora Therapeutics from an “outperform” rating to a “sector perform” rating and cut their target price for the company from $29.00 to $4.00 in a research report on Thursday, January 2nd. Bank of America cut their price objective on shares of Neumora Therapeutics from $22.00 to $7.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Needham & Company LLC reaffirmed a “buy” rating and set a $5.00 target price on shares of Neumora Therapeutics in a report on Tuesday. JPMorgan Chase & Co. downgraded Neumora Therapeutics from an “overweight” rating to a “neutral” rating and cut their price target for the company from $18.00 to $15.00 in a research note on Tuesday, November 5th. Finally, William Blair restated an “outperform” rating on shares of Neumora Therapeutics in a research report on Wednesday, January 15th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $11.50.

Neumora Therapeutics Price Performance

NMRA stock opened at $1.41 on Tuesday. The stock has a market capitalization of $226.99 million, a PE ratio of -0.75 and a beta of 2.50. The company has a 50 day moving average price of $3.20 and a 200 day moving average price of $8.88. Neumora Therapeutics has a fifty-two week low of $1.40 and a fifty-two week high of $21.00.

Neumora Therapeutics (NASDAQ:NMRA) last released its earnings results on Thursday, March 6th. The company reported ($0.37) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.46) by $0.09. As a group, equities analysts expect that Neumora Therapeutics will post -1.61 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Neumora Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in the company. Windmill Hill Asset Management Ltd raised its stake in Neumora Therapeutics by 299.6% during the 4th quarter. Windmill Hill Asset Management Ltd now owns 104,373 shares of the company’s stock worth $1,106,000 after buying an additional 78,252 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of Neumora Therapeutics during the fourth quarter worth about $770,000. Wexford Capital LP raised its position in shares of Neumora Therapeutics by 15.7% during the fourth quarter. Wexford Capital LP now owns 252,122 shares of the company’s stock worth $2,672,000 after purchasing an additional 34,243 shares during the period. Toronto Dominion Bank bought a new position in shares of Neumora Therapeutics during the 4th quarter valued at about $364,000. Finally, Stempoint Capital LP acquired a new position in shares of Neumora Therapeutics in the 4th quarter valued at approximately $4,538,000. Institutional investors and hedge funds 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.