Neumora Therapeutics (NASDAQ:NMRA) Cut to Underweight at JPMorgan Chase & Co.

Key Points

• Neumora Therapeutics has been dropped to an "underweight" rating by JPMorgan Chase & Co., which could negatively impact investor sentiment.
• In contrast, Mizuho raised its target price for the stock from $4.00 to $5.00 while maintaining an "outperform" rating, reflecting some positive analyst outlook.
• The stock is currently trading at around $1.52 with a consensus price target of $7.14, highlighting a significant potential upside according to analysts.

Neumora Therapeutics (NASDAQ:NMRA - Get Free Report) was downgraded by analysts at JPMorgan Chase & Co. from a "neutral" rating to an "underweight" rating in a research note issued to investors on Tuesday, Marketbeat.com reports.

Separately, Mizuho boosted their target price on shares of Neumora Therapeutics from $4.00 to $5.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 16th. Three research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $7.14.

Neumora Therapeutics Price Performance

NMRA stock opened at $1.52 on Tuesday. The firm has a market cap of $246.16 million, a price-to-earnings ratio of -0.97 and a beta of 2.92. The company has a quick ratio of 10.54, a current ratio of 10.54 and a debt-to-equity ratio of 0.11. Neumora Therapeutics has a 12-month low of $0.61 and a 12-month high of $17.19. The company's fifty day simple moving average is $1.66 and its 200 day simple moving average is $1.15.

Neumora Therapeutics (NASDAQ:NMRA - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported ($0.33) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.38) by $0.05. On average, analysts expect that Neumora Therapeutics will post -1.61 earnings per share for the current year.

Institutional Investors Weigh In On Neumora Therapeutics

A number of large investors have recently modified their holdings of NMRA. Lunate Capital Ltd bought a new stake in shares of Neumora Therapeutics during the 1st quarter valued at about $2,124,000. Graham Capital Management L.P. raised its holdings in shares of Neumora Therapeutics by 1,643.7% during the first quarter. Graham Capital Management L.P. now owns 1,162,499 shares of the company's stock valued at $1,162,000 after purchasing an additional 1,095,830 shares during the last quarter. AQR Capital Management LLC purchased a new position in shares of Neumora Therapeutics during the first quarter valued at approximately $463,000. AlphaCore Capital LLC purchased a new position in shares of Neumora Therapeutics during the second quarter valued at approximately $248,000. Finally, Federated Hermes Inc. purchased a new stake in Neumora Therapeutics during the first quarter valued at approximately $285,000. 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.

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