Neumora Therapeutics (NASDAQ:NMRA) Releases Earnings Results, Misses Expectations By $0.02 EPS

Neumora Therapeutics (NASDAQ:NMRA - Get Free Report) posted its quarterly earnings data on Monday. The company reported ($0.42) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.40) by ($0.02), Zacks reports.

Neumora Therapeutics Stock Performance

NMRA traded up $0.03 during mid-day trading on Friday, reaching $0.70. The stock had a trading volume of 1,188,042 shares, compared to its average volume of 1,508,154. The firm's fifty day simple moving average is $0.85 and its two-hundred day simple moving average is $4.29. The stock has a market capitalization of $113.22 million, a P/E ratio of -0.37 and a beta of 2.96. Neumora Therapeutics has a 52 week low of $0.61 and a 52 week high of $17.19.

Hedge Funds Weigh In On Neumora Therapeutics

A hedge fund recently raised its stake in Neumora Therapeutics stock. Invesco Ltd. boosted its position in shares of Neumora Therapeutics, Inc. (NASDAQ:NMRA - Free Report) by 151.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 123,655 shares of the company's stock after purchasing an additional 74,406 shares during the quarter. Invesco Ltd. owned about 0.08% of Neumora Therapeutics worth $124,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors own 47.65% of the company's stock.

Analysts Set New Price Targets

Several research firms recently issued reports on NMRA. Stifel Nicolaus lowered shares of Neumora Therapeutics from a "buy" rating to a "hold" rating and dropped their price target for the stock from $6.00 to $2.00 in a research report on Friday, March 7th. 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. William Blair lowered Neumora Therapeutics from an "outperform" rating to a "market perform" rating in a research note on Monday, March 10th. HC Wainwright reduced their target price on shares of Neumora Therapeutics from $30.00 to $18.00 and set a "buy" rating on the stock in a research note on Tuesday, March 4th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $5.00 target price on shares of Neumora Therapeutics in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $9.29.

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.