Needham & Company LLC Reiterates “Buy” Rating for Neumora Therapeutics (NASDAQ:NMRA)

Neumora Therapeutics (NASDAQ:NMRA)‘s stock had its “buy” rating restated by research analysts at Needham & Company LLC in a research note issued on Tuesday,Benzinga reports. They currently have a $5.00 target price on the stock.

Other analysts have also issued research reports about the stock. Stifel Nicolaus lowered shares of Neumora Therapeutics from a “buy” rating to a “hold” rating and lowered their target price for the company from $6.00 to $2.00 in a research note on Friday, March 7th. Bank of America reaffirmed an “underperform” rating and issued a $1.00 price objective (down previously from $7.00) on shares of Neumora Therapeutics in a report on Wednesday, April 2nd. HC Wainwright dropped their price target on shares of Neumora Therapeutics from $30.00 to $18.00 and set a “buy” rating on the stock in a research report on Tuesday, March 4th. William Blair cut shares of Neumora Therapeutics from an “outperform” rating to a “market perform” rating in a research report on Monday, March 10th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $4.00 price target on shares of Neumora Therapeutics in a research report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $9.29.

Neumora Therapeutics Stock Up 3.2%

Shares of NMRA traded up $0.02 during mid-day trading on Tuesday, reaching $0.72. 119,631 shares of the stock traded hands, compared to its average volume of 1,491,462. The firm has a market cap of $115.65 million, a price-to-earnings ratio of -0.38 and a beta of 2.96. The stock has a fifty day simple moving average of $0.91 and a 200 day simple moving average of $4.56. Neumora Therapeutics has a 12-month low of $0.62 and a 12-month high of $17.19.

Neumora Therapeutics (NASDAQ:NMRA) last issued its quarterly earnings results on Monday, May 12th. The company reported ($0.42) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.02). On average, equities research analysts expect that Neumora Therapeutics will post -1.61 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Neumora Therapeutics

Large investors have recently made changes to their positions in the company. Capital International Investors grew its holdings in Neumora Therapeutics by 692.1% during the 4th quarter. Capital International Investors now owns 3,700,359 shares of the company’s stock worth $39,224,000 after acquiring an additional 3,233,179 shares during the last quarter. Lunate Capital Ltd acquired a new position in Neumora Therapeutics during the 1st quarter valued at about $2,124,000. Stempoint Capital LP acquired a new position in Neumora Therapeutics during the fourth quarter valued at approximately $4,538,000. Schonfeld Strategic Advisors LLC grew its holdings in Neumora Therapeutics by 273.9% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 521,013 shares of the company’s stock valued at $5,523,000 after purchasing an additional 381,676 shares during the period. Finally, Federated Hermes Inc. acquired a new stake in Neumora Therapeutics during the 1st quarter worth approximately $285,000. Institutional investors own 47.65% of the company’s stock.

About Neumora Therapeutics

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.