Neumora Therapeutics (NASDAQ:NMRA) Rating Lowered to Neutral at JPMorgan Chase & Co.

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

Several other analysts also recently commented on NMRA. Needham & Company LLC restated a “buy” rating and set a $23.00 target price on shares of Neumora Therapeutics in a report on Friday, October 18th. HC Wainwright assumed coverage on shares of Neumora Therapeutics in a report on Tuesday, October 1st. They set a “buy” rating and a $30.00 price objective on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $29.00 target price on shares of Neumora Therapeutics in a research note on Wednesday, September 4th. Finally, Mizuho assumed coverage on Neumora Therapeutics in a research note on Monday, July 8th. They issued an “outperform” rating and a $20.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $21.67.

Neumora Therapeutics Stock Up 1.7 %

NMRA opened at $11.91 on Tuesday. The stock has a market cap of $1.91 billion, a P/E ratio of -4.65 and a beta of 3.92. Neumora Therapeutics has a 12 month low of $8.33 and a 12 month high of $21.00. The company has a fifty day simple moving average of $12.92 and a 200 day simple moving average of $11.30.

Neumora Therapeutics (NASDAQ:NMRA) last announced its quarterly earnings results on Tuesday, August 6th. The company reported ($0.37) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.37). On average, equities research analysts expect that Neumora Therapeutics will post -1.48 earnings per share for the current fiscal year.

Insider Buying and Selling at Neumora Therapeutics

In other news, CFO Joshua Pinto sold 31,642 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $11.78, for a total transaction of $372,742.76. Following the completion of the transaction, the chief financial officer now directly owns 154,658 shares in the company, valued at $1,821,871.24. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, insider Robert A. Lenz sold 30,788 shares of the firm’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $11.81, for a total value of $363,606.28. Following the completion of the transaction, the insider now directly owns 339,205 shares of the company’s stock, valued at approximately $4,006,011.05. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Joshua Pinto sold 31,642 shares of the business’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $11.78, for a total transaction of $372,742.76. Following the transaction, the chief financial officer now owns 154,658 shares in the company, valued at approximately $1,821,871.24. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 110,538 shares of company stock worth $1,390,513. Insiders own 26.40% of the company’s stock.

Institutional Trading of Neumora Therapeutics

A number of large investors have recently added to or reduced their stakes in NMRA. Price T Rowe Associates Inc. MD bought a new stake in shares of Neumora Therapeutics in the 1st quarter valued at about $10,354,000. Baker BROS. Advisors LP acquired a new position in Neumora Therapeutics during the first quarter worth approximately $8,715,000. Callan Capital LLC raised its stake 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 buying an additional 456,207 shares during the period. Artal Group S.A. lifted its position in shares of Neumora Therapeutics by 14.5% in the first quarter. Artal Group S.A. now owns 2,924,052 shares of the company’s stock valued at $40,206,000 after buying an additional 371,350 shares during the last quarter. Finally, Auour Investments LLC bought a new position in shares of Neumora Therapeutics during the 3rd quarter worth approximately $3,302,000. 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.