Neumora Therapeutics (NASDAQ:NMRA) Downgraded by JPMorgan Chase & Co. to Underweight

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 equities research analysts at JPMorgan Chase & Co. from a "neutral" rating to an "underweight" rating in a report released on Tuesday, Marketbeat Ratings reports.

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

Neumora Therapeutics Stock Performance

Shares of NASDAQ:NMRA traded up $0.19 during trading on Tuesday, hitting $1.76. 934,687 shares of the company were exchanged, compared to its average volume of 365,229. The company has a market cap of $285.03 million, a PE ratio of -1.12 and a beta of 2.91. The stock has a 50 day moving average of $1.70 and a 200 day moving average of $1.16. Neumora Therapeutics has a 52-week low of $0.61 and a 52-week high of $17.19. The company has a debt-to-equity ratio of 0.11, a current ratio of 10.54 and a quick ratio of 10.54.

Neumora Therapeutics (NASDAQ:NMRA - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported ($0.33) earnings per share for the quarter, topping the consensus estimate of ($0.38) by $0.05. As a group, equities research analysts predict that Neumora Therapeutics will post -1.61 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of NMRA. CWM LLC lifted its stake in shares of Neumora Therapeutics by 7,124.4% during the 1st quarter. CWM LLC now owns 25,213 shares of the company's stock valued at $25,000 after buying an additional 24,864 shares in the last quarter. Jump Financial LLC purchased a new stake in Neumora Therapeutics in the 1st quarter valued at about $25,000. Catalyst Funds Management Pty Ltd purchased a new stake in Neumora Therapeutics in the 2nd quarter valued at about $29,000. Aigen Investment Management LP purchased a new stake in Neumora Therapeutics in the 1st quarter valued at about $36,000. Finally, Virtu Financial LLC purchased a new stake in shares of Neumora Therapeutics in the 1st quarter worth approximately $40,000. Hedge funds and other 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.