HC Wainwright Has Lowered Expectations for Neumora Therapeutics (NASDAQ:NMRA) Stock Price

Neumora Therapeutics (NASDAQ:NMRA) had its target price cut by HC Wainwright from $30.00 to $18.00 in a research report sent to investors on Tuesday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other equities research analysts have also weighed in on the stock. Bank of America reduced their target price 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. Royal Bank of Canada downgraded shares of Neumora Therapeutics from an “outperform” rating to a “sector perform” rating and dropped their target price for the company from $29.00 to $4.00 in a research report on Thursday, January 2nd. JPMorgan Chase & Co. downgraded shares of Neumora Therapeutics from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $18.00 to $15.00 in a research report on Tuesday, November 5th. William Blair reiterated an “outperform” rating on shares of Neumora Therapeutics in a research report on Wednesday, January 15th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $5.00 target price on shares of Neumora Therapeutics in a research report on Tuesday. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Neumora Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $11.50.

Neumora Therapeutics Price Performance

NMRA opened at $1.41 on Tuesday. Neumora Therapeutics has a fifty-two week low of $1.35 and a fifty-two week high of $21.00. The firm has a market capitalization of $227.80 million, a price-to-earnings ratio of -0.75 and a beta of 2.50. The company’s 50 day moving average price is $3.02 and its two-hundred day moving average price is $8.81.

Neumora Therapeutics (NASDAQ:NMRA) last posted 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 research analysts predict that Neumora Therapeutics will post -1.61 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. acquired a new position in Neumora Therapeutics during the fourth quarter worth $61,000. PNC Financial Services Group Inc. acquired a new position in Neumora Therapeutics during the fourth quarter worth $64,000. Quantbot Technologies LP acquired a new position in Neumora Therapeutics during the fourth quarter worth $92,000. PEAK6 LLC acquired a new position in Neumora Therapeutics during the fourth quarter worth $117,000. Finally, EntryPoint Capital LLC acquired a new position in Neumora Therapeutics during the fourth quarter worth $135,000. Institutional investors and hedge funds 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.