Royal Bank Of Canada Lowers Neumora Therapeutics (NASDAQ:NMRA) Price Target to $5.00

Neumora Therapeutics (NASDAQ:NMRA) had its price objective reduced by analysts at Royal Bank Of Canada from $7.00 to $5.00 in a report released on Monday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Royal Bank Of Canada’s price target indicates a potential upside of 211.14% from the company’s previous close.

Several other equities analysts have also recently weighed in on NMRA. Needham & Company LLC lowered their price target on Neumora Therapeutics from $8.00 to $5.00 and set a “buy” rating on the stock in a report on Tuesday, June 16th. HC Wainwright reduced their price objective on Neumora Therapeutics from $18.00 to $7.00 and set a “buy” rating for the company in a research report on Tuesday, June 16th. Mizuho lowered their target price on Neumora Therapeutics from $6.00 to $4.00 and set an “outperform” rating on the stock in a report on Thursday, June 18th. Weiss Ratings reissued a “sell (d-)” rating on shares of Neumora Therapeutics in a research report on Tuesday, April 21st. Finally, Guggenheim restated a “buy” rating and set a $14.00 price target on shares of Neumora Therapeutics in a research note on Tuesday, March 31st. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Neumora Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $6.57.

Neumora Therapeutics Stock Performance

Shares of NASDAQ NMRA traded down $0.07 during trading on Monday, reaching $1.61. 55,669 shares of the company traded hands, compared to its average volume of 1,942,985. The firm has a 50 day simple moving average of $1.74 and a 200-day simple moving average of $2.18. Neumora Therapeutics has a 52-week low of $0.83 and a 52-week high of $3.65. The stock has a market capitalization of $297.75 million, a PE ratio of -1.21 and a beta of 2.74. The company has a quick ratio of 5.09, a current ratio of 5.09 and a debt-to-equity ratio of 0.75.

Neumora Therapeutics (NASDAQ:NMRA) last issued its earnings results on Thursday, May 7th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.32) by $0.02. Equities research analysts anticipate that Neumora Therapeutics will post -0.93 earnings per share for the current year.

Institutional Trading of Neumora Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Perceptive Advisors LLC bought a new stake in shares of Neumora Therapeutics during the 1st quarter valued at $9,953,000. Siren L.L.C. lifted its stake in shares of Neumora Therapeutics by 35.1% during the 1st quarter. Siren L.L.C. now owns 8,497,822 shares of the company’s stock valued at $16,571,000 after buying an additional 2,209,039 shares in the last quarter. Millennium Management LLC boosted its holdings in Neumora Therapeutics by 80.1% in the 4th quarter. Millennium Management LLC now owns 3,616,514 shares of the company’s stock worth $6,474,000 after buying an additional 1,608,266 shares during the period. Ikarian Capital LLC boosted its holdings in Neumora Therapeutics by 10,128.9% in the 4th quarter. Ikarian Capital LLC now owns 1,278,408 shares of the company’s stock worth $2,288,000 after buying an additional 1,265,910 shares during the period. Finally, Jacobs Levy Equity Management Inc. purchased a new stake in Neumora Therapeutics in the 3rd quarter worth $1,512,000. 47.65% of the stock is owned by hedge funds and other institutional investors.

About Neumora Therapeutics

Neumora Therapeutics, headquartered in Cambridge, Massachusetts, is a clinical-stage biopharmaceutical company focused on developing precision therapies for disorders of the central nervous system. The company applies an integrated approach that combines advanced biological insights, single-cell genomics and machine learning to accelerate the discovery and development of novel treatments for neurological and psychiatric diseases.

Neumora’s product pipeline spans small molecules, biologics and gene-based modalities targeting areas of high unmet need such as neurodegenerative conditions, mood and anxiety disorders, neuropathic pain and movement disorders.