Neumora Therapeutics (NASDAQ:NMRA) Trading Down 4.6%

Neumora Therapeutics, Inc. (NASDAQ:NMRA - Get Free Report)'s stock price dropped 4.6% on Friday . The company traded as low as $9.96 and last traded at $10.06. Approximately 269,022 shares traded hands during trading, a decline of 42% from the average daily volume of 465,529 shares. The stock had previously closed at $10.55.

Wall Street Analyst Weigh In

NMRA has been the subject of a number of research analyst reports. Royal Bank of Canada restated an "outperform" rating and set a $31.00 price objective on shares of Neumora Therapeutics in a research report on Thursday, March 28th. William Blair restated an "outperform" rating on shares of Neumora Therapeutics in a research report on Friday, April 12th. Finally, JPMorgan Chase & Co. increased their target price on shares of Neumora Therapeutics from $20.00 to $22.00 and gave the company an "overweight" rating in a research report on Monday, March 18th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Neumora Therapeutics presently has a consensus rating of "Moderate Buy" and a consensus price target of $22.57.

Neumora Therapeutics Stock Performance

The company's 50-day moving average is $15.69 and its 200-day moving average is $14.15.

Neumora Therapeutics (NASDAQ:NMRA - Get Free Report) last released its quarterly earnings data on Thursday, March 7th. The company reported ($0.71) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.76) by $0.05. Analysts predict that Neumora Therapeutics, Inc. will post -1.48 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Amalgamated Bank purchased a new position in shares of Neumora Therapeutics in the fourth quarter valued at approximately $29,000. California State Teachers Retirement System purchased a new position in shares of Neumora Therapeutics in the fourth quarter valued at approximately $42,000. Tower Research Capital LLC TRC purchased a new position in shares of Neumora Therapeutics in the fourth quarter valued at approximately $44,000. Strs Ohio purchased a new position in shares of Neumora Therapeutics in the fourth quarter valued at approximately $54,000. Finally, SG Americas Securities LLC purchased a new position in shares of Neumora Therapeutics in the fourth quarter valued at approximately $108,000. 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.