Neumora Therapeutics' (NMRA) "Buy" Rating Reiterated at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Neumora Therapeutics (NASDAQ:NMRA - Free Report) in a report released on Tuesday,Benzinga reports. Needham & Company LLC currently has a $5.00 target price on the stock.

A number of other equities research analysts have also weighed in on the company. HC Wainwright lowered their price objective on Neumora Therapeutics from $30.00 to $18.00 and set a "buy" rating for the company in a research note on Tuesday, March 4th. William Blair downgraded Neumora Therapeutics from an "outperform" rating to a "market perform" rating in a report on Monday, March 10th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $4.00 target price on shares of Neumora Therapeutics in a report on Tuesday, March 4th. Stifel Nicolaus downgraded Neumora Therapeutics from a "buy" rating to a "hold" rating and reduced their target price for the stock from $6.00 to $2.00 in a report on Friday, March 7th. Finally, Bank of America reaffirmed an "underperform" rating and set a $1.00 target price (down previously from $7.00) on shares of Neumora Therapeutics in a report on Wednesday, April 2nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $9.29.

Neumora Therapeutics Trading Up 5.1%

NASDAQ NMRA traded up $0.03 during mid-day trading on Tuesday, reaching $0.70. 1,188,042 shares of the company's stock traded hands, compared to its average volume of 1,503,403. Neumora Therapeutics has a 1-year low of $0.61 and a 1-year high of $17.19. The company has a fifty day simple moving average of $0.85 and a 200-day simple moving average of $4.35. The company has a market cap of $113.22 million, a price-to-earnings ratio of -0.37 and a beta of 2.96.

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

Institutional Trading of Neumora Therapeutics

Hedge funds have recently made changes to their positions in the stock. CWM LLC lifted its holdings in shares of Neumora Therapeutics by 7,124.4% in the 1st quarter. CWM LLC now owns 25,213 shares of the company's stock worth $25,000 after purchasing an additional 24,864 shares during the last quarter. Jump Financial LLC bought a new stake in shares of Neumora Therapeutics in the 1st quarter worth approximately $25,000. Aigen Investment Management LP bought a new stake in shares of Neumora Therapeutics in the 1st quarter worth approximately $36,000. Virtu Financial LLC bought a new stake in shares of Neumora Therapeutics in the 1st quarter worth approximately $40,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Neumora Therapeutics in the 4th quarter worth approximately $61,000. Institutional investors 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.