Neumora Therapeutics (NASDAQ:NMRA) Price Target Cut to $7.00 by Analysts at Bank of America

Neumora Therapeutics (NASDAQ:NMRA) had its price objective reduced by Bank of America from $22.00 to $7.00 in a research report sent to investors on Monday morning,Benzinga reports. Bank of America currently has a buy rating on the stock.

Several other equities analysts also recently weighed in on the stock. Needham & Company LLC reissued a “buy” rating and issued a $23.00 price target on shares of Neumora Therapeutics in a research note on Thursday, January 2nd. JPMorgan Chase & Co. cut Neumora Therapeutics from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $18.00 to $15.00 in a report on Tuesday, November 5th. Royal Bank of Canada cut Neumora Therapeutics from an “outperform” rating to a “sector perform” rating and cut their price target for the company from $29.00 to $4.00 in a report on Thursday, January 2nd. Finally, HC Wainwright reissued a “buy” rating and set a $30.00 price objective on shares of Neumora Therapeutics in a research note on Friday. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $16.50.

Neumora Therapeutics Trading Up 14.3 %

Shares of Neumora Therapeutics stock opened at $2.48 on Monday. Neumora Therapeutics has a twelve month low of $1.83 and a twelve month high of $21.00. The firm has a market capitalization of $400.67 million, a PE ratio of -1.33 and a beta of 2.71. The firm’s 50-day moving average price is $10.28 and its 200 day moving average price is $11.46.

Neumora Therapeutics (NASDAQ:NMRA) last released its earnings results on Tuesday, November 12th. The company reported ($0.45) earnings per share for the quarter, missing the consensus estimate of ($0.39) by ($0.06). During the same quarter last year, the firm posted ($1.14) earnings per share. On average, sell-side analysts predict that Neumora Therapeutics will post -1.61 EPS for the current fiscal year.

Insider Activity at Neumora Therapeutics

In other news, Director Matthew K. Fust sold 14,049 shares of Neumora Therapeutics stock in a transaction on Friday, October 18th. The stock was sold at an average price of $17.03, for a total value of $239,254.47. Following the completion of the sale, the director now directly owns 20,100 shares of the company’s stock, valued at approximately $342,303. The trade was a 41.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Robert A. Lenz sold 5,563 shares of the stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $15.01, for a total value of $83,500.63. Following the transaction, the insider now directly owns 322,966 shares in the company, valued at approximately $4,847,719.66. The trade was a 1.69 % decrease in their position. The disclosure for this sale can be found here. 26.40% of the stock is owned by insiders.

Institutional Trading of Neumora Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of NMRA. Amalgamated Bank increased its stake in Neumora Therapeutics by 472.8% during the 2nd quarter. Amalgamated Bank now owns 2,910 shares of the company’s stock worth $29,000 after buying an additional 2,402 shares during the period. Quarry LP purchased a new stake in shares of Neumora Therapeutics during the second quarter worth $98,000. SkyOak Wealth LLC acquired a new stake in shares of Neumora Therapeutics in the second quarter valued at $147,000. Principal Financial Group Inc. purchased a new position in Neumora Therapeutics in the second quarter valued at $166,000. Finally, Intech Investment Management LLC purchased a new stake in Neumora Therapeutics during the 3rd quarter worth about $175,000. 47.65% of the stock is currently owned by hedge funds and other institutional investors.

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.