Neumora Therapeutics (NASDAQ:NMRA) Downgraded by William Blair to Market Perform

Neumora Therapeutics (NASDAQ:NMRA) was downgraded by equities researchers at William Blair from an “outperform” rating to a “market perform” rating in a note issued to investors on Monday,Briefing.com Automated Import reports.

Several other equities research analysts have also issued reports on NMRA. Guggenheim lowered Neumora Therapeutics from a “buy” rating to a “neutral” rating in a research note on Friday. Stifel Nicolaus cut shares of Neumora Therapeutics from a “buy” rating to a “hold” rating and decreased their target price for the company from $6.00 to $2.00 in a research report on Friday. HC Wainwright dropped their target price on shares of Neumora Therapeutics from $30.00 to $18.00 and set a “buy” rating on the stock in a research report on Tuesday, March 4th. Bank of America decreased their price objective on shares of Neumora Therapeutics from $22.00 to $7.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $4.00 price objective on shares of Neumora Therapeutics in a report on Tuesday, March 4th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $10.14.

Neumora Therapeutics Price Performance

NASDAQ NMRA opened at $1.49 on Monday. The stock has a market capitalization of $240.73 million, a PE ratio of -0.80 and a beta of 2.59. Neumora Therapeutics has a 1 year low of $1.30 and a 1 year high of $18.61. The company’s 50 day simple moving average is $2.44 and its two-hundred day simple moving average is $8.59.

Neumora Therapeutics (NASDAQ:NMRA) last announced its quarterly earnings data on Thursday, March 6th. The company reported ($0.37) EPS for the quarter, beating the consensus estimate of ($0.46) by $0.09. On average, research analysts anticipate that Neumora Therapeutics will post -1.61 EPS for the current year.

Hedge Funds Weigh In On Neumora Therapeutics

Several hedge funds have recently bought and sold shares of NMRA. Mirae Asset Global Investments Co. Ltd. bought a new stake in Neumora Therapeutics during the fourth quarter valued at about $61,000. PNC Financial Services Group Inc. bought a new position in Neumora Therapeutics in the fourth quarter worth $64,000. Quantbot Technologies LP acquired a new stake in shares of Neumora Therapeutics during the 4th quarter valued at about $92,000. PEAK6 LLC bought a new stake in shares of Neumora Therapeutics in the 4th quarter valued at approximately $117,000. Finally, EntryPoint Capital LLC bought a new position in shares of Neumora Therapeutics during the fourth quarter valued at $135,000. 47.65% of the stock is owned by institutional investors and hedge funds.

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.