Neumora Therapeutics (NASDAQ:NMRA) Cut to “Sector Perform” at Royal Bank of Canada

Royal Bank of Canada lowered shares of Neumora Therapeutics (NASDAQ:NMRA) from an outperform rating to a sector perform rating in a research report released on Thursday morning, Marketbeat Ratings reports. The brokerage currently has $4.00 target price on the stock, down from their prior target price of $29.00.

Several other analysts have also issued reports on NMRA. Needham & Company LLC reissued a “buy” rating and set a $23.00 target price on shares of Neumora Therapeutics in a report on Thursday. JPMorgan Chase & Co. lowered Neumora Therapeutics from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $18.00 to $15.00 in a report on Tuesday, November 5th. Finally, HC Wainwright reissued a “buy” rating and set a $30.00 target price on shares of Neumora Therapeutics in a report on Monday, December 16th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $18.40.

Neumora Therapeutics Price Performance

Shares of NASDAQ NMRA opened at $2.17 on Thursday. The stock’s fifty day moving average price is $10.47 and its two-hundred day moving average price is $11.48. Neumora Therapeutics has a one year low of $1.83 and a one year high of $21.00. The firm has a market cap of $350.59 million, a price-to-earnings ratio of -1.16 and a beta of 3.34.

Neumora Therapeutics (NASDAQ:NMRA) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.45) EPS for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.06). During the same quarter in the previous year, the business earned ($1.14) earnings per share. On average, equities analysts anticipate that Neumora Therapeutics will post -1.61 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Robert A. Lenz sold 5,563 shares of the company’s stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $15.01, for a total transaction of $83,500.63. Following the completion of the sale, the insider now directly owns 322,966 shares in the company, valued at $4,847,719.66. This represents a 1.69 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Matthew K. Fust sold 14,049 shares of the company’s 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 sale, the director now owns 20,100 shares of the company’s stock, valued at approximately $342,303. This represents a 41.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 26.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Neumora Therapeutics

Large investors have recently bought and sold shares of the company. Geode Capital Management LLC raised its position in Neumora Therapeutics by 54.0% in the third quarter. Geode Capital Management LLC now owns 1,979,847 shares of the company’s stock valued at $26,159,000 after purchasing an additional 694,385 shares during the last quarter. Barclays PLC raised its position in Neumora Therapeutics by 352.9% in the third quarter. Barclays PLC now owns 129,210 shares of the company’s stock valued at $1,708,000 after purchasing an additional 100,678 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Neumora Therapeutics by 139.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 698,255 shares of the company’s stock valued at $9,224,000 after purchasing an additional 406,891 shares during the last quarter. Point72 Asset Management L.P. bought a new position in Neumora Therapeutics in the third quarter valued at about $1,097,000. Finally, Callan Capital LLC raised its position in Neumora Therapeutics by 222.6% in the second quarter. Callan Capital LLC now owns 661,194 shares of the company’s stock valued at $6,500,000 after purchasing an additional 456,207 shares during the last quarter. 47.65% of the stock is currently owned by institutional investors.

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.