Neumora Therapeutics (NASDAQ:NMRA) Trading Down 4.6%

Neumora Therapeutics, Inc. (NASDAQ:NMRA) shares dropped 4.6% during mid-day trading on Friday . The stock traded as low as $9.96 and last traded at $10.06. Approximately 269,022 shares were traded during trading, a decline of 42% from the average daily volume of 465,529 shares. The stock had previously closed at $10.55.

Analyst Ratings Changes

NMRA has been the topic of several research analyst reports. Royal Bank of Canada reissued an “outperform” rating and set a $31.00 target price on shares of Neumora Therapeutics in a research note on Thursday, March 28th. JPMorgan Chase & Co. boosted their target price on Neumora Therapeutics from $20.00 to $22.00 and gave the company an “overweight” rating in a research note on Monday, March 18th. Finally, William Blair reissued an “outperform” rating on shares of Neumora Therapeutics in a research note on Friday, April 12th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Neumora Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $22.57.

Neumora Therapeutics Stock Performance

The company has a 50-day moving average of $15.69 and a two-hundred day moving average of $14.15.

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

Institutional Investors Weigh In On Neumora Therapeutics

Several hedge funds have recently added to or reduced their stakes in NMRA. Amalgamated Bank bought a new stake in Neumora Therapeutics in the fourth quarter worth $29,000. California State Teachers Retirement System bought a new stake in Neumora Therapeutics in the fourth quarter worth $42,000. Tower Research Capital LLC TRC bought a new stake in Neumora Therapeutics in the fourth quarter worth $44,000. Strs Ohio bought a new stake in Neumora Therapeutics in the fourth quarter worth $54,000. Finally, SG Americas Securities LLC bought a new stake in Neumora Therapeutics in the fourth quarter worth $108,000. 47.65% of the stock is owned by institutional investors.

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.