Neumora Therapeutics (NASDAQ:NMRA) Stock Rating Lowered by JPMorgan Chase & Co.

by · The Cerbat Gem

Neumora Therapeutics (NASDAQ:NMRA – Get Free Report) was downgraded by analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a note issued to investors on Tuesday, Marketbeat.com reports. They presently have a $15.00 price objective on the stock, down from their prior price objective of $18.00. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 18.02% from the stock’s previous close.

A number of other equities analysts also recently commented on NMRA. Needham & Company LLC restated a “buy” rating and set a $23.00 price objective on shares of Neumora Therapeutics in a research report on Friday, October 18th. Mizuho assumed coverage on shares of Neumora Therapeutics in a report on Monday, July 8th. They issued an “outperform” rating and a $20.00 price target for the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $29.00 price target on shares of Neumora Therapeutics in a report on Wednesday, September 4th. Finally, HC Wainwright assumed coverage on shares of Neumora Therapeutics in a report on Tuesday, October 1st. They issued a “buy” rating and a $30.00 price target for the company. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $21.67.

View Our Latest Analysis on Neumora Therapeutics

Neumora Therapeutics Stock Performance

Shares of Neumora Therapeutics stock opened at $12.71 on Tuesday. The company has a market cap of $2.03 billion, a P/E ratio of -4.96 and a beta of 3.92. Neumora Therapeutics has a one year low of $8.33 and a one year high of $21.00. The firm has a fifty day moving average of $12.95 and a two-hundred day moving average of $11.31.

Neumora Therapeutics (NASDAQ:NMRA – Get Free Report) last announced its quarterly earnings data on Tuesday, August 6th. The company reported ($0.37) EPS for the quarter, hitting analysts’ consensus estimates of ($0.37). As a group, equities analysts predict that Neumora Therapeutics will post -1.48 earnings per share for the current year.

Insider Activity at Neumora Therapeutics

In related news, insider Robert A. Lenz sold 5,563 shares of the stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $15.01, for a total value of $83,500.63. Following the sale, the insider now directly owns 322,966 shares of the company’s stock, valued at approximately $4,847,719.66. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Neumora Therapeutics news, Director Matthew K. Fust sold 14,049 shares of the firm’s stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $17.03, for a total transaction of $239,254.47. Following the sale, the director now directly owns 20,100 shares of the company’s stock, valued at $342,303. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Robert A. Lenz sold 5,563 shares of the firm’s stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $15.01, for a total transaction of $83,500.63. Following the sale, the insider now directly owns 322,966 shares in the company, valued at $4,847,719.66. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 110,538 shares of company stock valued at $1,390,513. Insiders own 26.40% of the company’s stock.

Institutional Investors Weigh In On Neumora Therapeutics

Hedge funds have recently modified their holdings of the company. Amalgamated Bank boosted its stake in shares of Neumora Therapeutics by 472.8% during the 2nd quarter. Amalgamated Bank now owns 2,910 shares of the company’s stock worth $29,000 after purchasing an additional 2,402 shares during the last quarter. Quarry LP acquired a new stake in shares of Neumora Therapeutics in the second quarter worth approximately $98,000. Ballentine Partners LLC acquired a new stake in shares of Neumora Therapeutics in the third quarter worth approximately $178,000. SkyOak Wealth LLC acquired a new stake in shares of Neumora Therapeutics in the second quarter worth approximately $147,000. Finally, Principal Financial Group Inc. acquired a new stake in shares of Neumora Therapeutics in the second quarter worth approximately $166,000. 47.65% of the stock is owned by institutional investors and hedge funds.

Neumora Therapeutics Company Profile

(Get Free Report)

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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