Neumora Therapeutics (NASDAQ:NMRA) Earns "Buy" Rating from Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Neumora Therapeutics (NASDAQ:NMRA - Free Report) in a research note issued to investors on Tuesday,Benzinga reports. They currently have a $5.00 price target on the stock.

A number of other research firms also recently commented on NMRA. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $4.00 price target on shares of Neumora Therapeutics in a research note on Tuesday, March 4th. Bank of America reaffirmed an "underperform" rating and issued a $1.00 price target (down previously from $7.00) on shares of Neumora Therapeutics in a research note on Wednesday, April 2nd. Stifel Nicolaus downgraded Neumora Therapeutics from a "buy" rating to a "hold" rating and lowered their target price for the stock from $6.00 to $2.00 in a research note on Friday, March 7th. William Blair downgraded Neumora Therapeutics from an "outperform" rating to a "market perform" rating in a research note on Monday, March 10th. Finally, Guggenheim downgraded Neumora Therapeutics from a "buy" rating to a "neutral" rating in a research note on Friday, March 7th. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $9.29.

Neumora Therapeutics Price Performance

NMRA stock traded up $0.03 during midday trading on Tuesday, reaching $0.70. The company had a trading volume of 1,188,042 shares, compared to its average volume of 1,508,154. The company has a market capitalization of $113.22 million, a price-to-earnings ratio of -0.37 and a beta of 2.96. The stock has a 50 day moving average price of $0.85 and a 200-day moving average price of $4.29. Neumora Therapeutics has a 1-year low of $0.61 and a 1-year high of $17.19.

Neumora Therapeutics (NASDAQ:NMRA - Get Free Report) last posted its quarterly earnings results on Monday, May 12th. The company reported ($0.42) EPS for the quarter, missing analysts' consensus estimates of ($0.40) by ($0.02). As a group, research analysts anticipate that Neumora Therapeutics will post -1.61 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. CWM LLC increased its stake in shares of Neumora Therapeutics by 7,124.4% in the first quarter. CWM LLC now owns 25,213 shares of the company's stock valued at $25,000 after buying an additional 24,864 shares during the period. Jump Financial LLC bought a new stake in Neumora Therapeutics in the first quarter valued at approximately $25,000. Aigen Investment Management LP bought a new stake in Neumora Therapeutics in the first quarter valued at approximately $36,000. Virtu Financial LLC bought a new stake in Neumora Therapeutics in the first quarter valued at approximately $40,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in Neumora Therapeutics in the fourth quarter valued at approximately $61,000. Institutional investors and hedge funds 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.