Neumora Therapeutics (NASDAQ:NMRA) Receives “Outperform” Rating from Royal Bank of Canada

Neumora Therapeutics (NASDAQ:NMRA)‘s stock had its “outperform” rating restated by analysts at Royal Bank of Canada in a research report issued to clients and investors on Thursday, Benzinga reports. They currently have a $31.00 target price on the stock. Royal Bank of Canada’s target price indicates a potential upside of 138.46% from the company’s current price.

NMRA has been the topic of a number of other research reports. Deutsche Bank Aktiengesellschaft began coverage on shares of Neumora Therapeutics in a report on Tuesday, December 12th. They set a “hold” rating and a $13.00 price target on the stock. JPMorgan Chase & Co. increased their price objective on Neumora Therapeutics from $20.00 to $22.00 and gave the stock an “overweight” rating in a research note on Monday, March 18th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Neumora Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $22.57.

Neumora Therapeutics Price Performance

Shares of NASDAQ NMRA traded up $0.39 during midday trading on Thursday, reaching $13.00. The company’s stock had a trading volume of 454,737 shares, compared to its average volume of 415,178. Neumora Therapeutics has a one year low of $9.35 and a one year high of $21.00. The stock has a 50 day moving average price of $16.48.

Neumora Therapeutics (NASDAQ:NMRA) last released its quarterly earnings data on Thursday, March 7th. The company reported ($0.71) earnings per share for the quarter, topping the consensus estimate of ($0.76) by $0.05. On average, analysts anticipate that Neumora Therapeutics will post -1.48 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. FMR LLC acquired a new position in Neumora Therapeutics during the 3rd quarter worth $79,360,000. WELLCOME TRUST LTD THE as trustee of the WELLCOME TRUST acquired a new stake in shares of Neumora Therapeutics during the third quarter worth approximately $46,692,000. Avidity Partners Management LP bought a new stake in shares of Neumora Therapeutics during the third quarter worth $25,398,000. Johnson & Johnson acquired a new stake in Neumora Therapeutics in the 3rd quarter valued at about $12,870,000. Finally, Goldman Sachs Group Inc. lifted its position in shares of Neumora Therapeutics by 704.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 592,422 shares of the company’s stock worth $10,101,000 after purchasing an additional 518,822 shares in the last quarter. 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.