Neumora Therapeutics (NASDAQ:NMRA) Trading Down 7.5%

Neumora Therapeutics, Inc. (NASDAQ:NMRA - Get Free Report)'s stock price fell 7.5% during trading on Friday . The stock traded as low as $9.02 and last traded at $9.04. 60,597 shares were traded during mid-day trading, a decline of 87% from the average session volume of 475,555 shares. The stock had previously closed at $9.77.

Analysts Set New Price Targets

Several brokerages recently commented on NMRA. William Blair reissued an "outperform" rating on shares of Neumora Therapeutics in a research note on Friday, April 12th. Royal Bank of Canada restated an "outperform" rating and issued a $31.00 price target on shares of Neumora Therapeutics in a research report on Thursday, March 28th. Finally, JPMorgan Chase & Co. upped their price target 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 investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $22.57.

Neumora Therapeutics Stock Down 5.9 %

The business's 50 day simple moving average is $13.00 and its two-hundred day simple moving average is $14.01.

Neumora Therapeutics (NASDAQ:NMRA - Get Free Report) last released its quarterly earnings data on Tuesday, May 7th. The company reported ($0.34) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.34). On average, equities research analysts anticipate that Neumora Therapeutics, Inc. will post -1.48 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. FMR LLC bought a new position in shares of Neumora Therapeutics during the third quarter valued at about $79,360,000. Johnson & Johnson bought a new position in shares of Neumora Therapeutics during the third quarter valued at about $12,870,000. Citigroup Inc. bought a new position in shares of Neumora Therapeutics during the third quarter valued at about $203,000. Avidity Partners Management LP purchased a new stake in Neumora Therapeutics during the third quarter worth about $25,398,000. Finally, Soros Fund Management LLC purchased a new stake in Neumora Therapeutics during the third quarter worth about $141,000. 47.65% of the stock is 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.