JPMorgan Chase & Co. Downgrades Neumora Therapeutics (NASDAQ:NMRA) to Neutral

JPMorgan Chase & Co. cut shares of Neumora Therapeutics (NASDAQ:NMRA) from an overweight rating to a neutral rating in a research note released on Tuesday morning, Marketbeat reports. JPMorgan Chase & Co. currently has $15.00 price objective on the stock, down from their prior price objective of $18.00.

A number of other research firms have also weighed in on NMRA. Needham & Company LLC reissued a “buy” rating and set a $23.00 price target on shares of Neumora Therapeutics in a research report on Friday, October 18th. Royal Bank of Canada reissued an “outperform” rating and set a $29.00 price target on shares of Neumora Therapeutics in a research report on Wednesday, September 4th. HC Wainwright initiated coverage on shares of Neumora Therapeutics in a research report on Tuesday, October 1st. They issued a “buy” rating and a $30.00 price objective on the stock. Finally, Mizuho initiated coverage on shares of Neumora Therapeutics in a research report on Monday, July 8th. They issued an “outperform” rating and a $20.00 price objective on the stock. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $21.67.

Neumora Therapeutics Trading Up 2.4 %

Neumora Therapeutics stock opened at $13.02 on Tuesday. Neumora Therapeutics has a 1-year low of $8.33 and a 1-year high of $21.00. The firm has a market capitalization of $2.08 billion, a price-to-earnings ratio of -5.09 and a beta of 3.92. The firm’s fifty day moving average price is $12.95 and its two-hundred day moving average price is $11.31.

Neumora Therapeutics (NASDAQ:NMRA) last released its quarterly earnings data on Tuesday, August 6th. The company reported ($0.37) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.37). On average, research analysts forecast that Neumora Therapeutics will post -1.48 EPS for the current year.

Insider Transactions at Neumora Therapeutics

In other news, Director Matthew K. Fust sold 14,049 shares of Neumora Therapeutics stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $17.03, for a total value of $239,254.47. Following the completion of the transaction, the director now owns 20,100 shares in the company, valued at $342,303. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Robert A. Lenz sold 5,563 shares of the business’s stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $15.01, for a total transaction of $83,500.63. Following the completion of the transaction, the insider now owns 322,966 shares of the company’s stock, valued at approximately $4,847,719.66. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Matthew K. Fust sold 14,049 shares of the business’s stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $17.03, for a total transaction of $239,254.47. Following the transaction, the director now directly owns 20,100 shares of the company’s stock, valued at approximately $342,303. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 110,538 shares of company stock worth $1,390,513 over the last quarter. Corporate insiders own 26.40% of the company’s stock.

Hedge Funds Weigh In On Neumora Therapeutics

Several hedge funds have recently bought and sold shares of NMRA. Amalgamated Bank grew its stake in Neumora Therapeutics by 472.8% during the second quarter. Amalgamated Bank now owns 2,910 shares of the company’s stock valued at $29,000 after acquiring an additional 2,402 shares in the last quarter. Quarry LP bought a new stake in Neumora Therapeutics during the second quarter valued at approximately $98,000. SkyOak Wealth LLC bought a new stake in Neumora Therapeutics during the second quarter valued at approximately $147,000. Principal Financial Group Inc. bought a new stake in Neumora Therapeutics during the second quarter valued at approximately $166,000. Finally, Ballentine Partners LLC bought a new stake in Neumora Therapeutics during the third quarter valued at approximately $178,000. 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.