Neumora Therapeutics (NASDAQ:NMRA) Reaches New 12-Month Low at $8.98

Neumora Therapeutics, Inc. (NASDAQ:NMRA) hit a new 52-week low during trading on Thursday . The company traded as low as $8.98 and last traded at $9.09, with a volume of 138021 shares trading hands. The stock had previously closed at $9.59.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on NMRA. William Blair restated an “outperform” rating on shares of Neumora Therapeutics in a report on Friday, April 12th. Royal Bank of Canada reissued an “outperform” rating and set a $31.00 price objective on shares of Neumora Therapeutics in a research note on Thursday, March 28th. Finally, JPMorgan Chase & Co. upped 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. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $22.57.

Neumora Therapeutics Stock Up 1.0 %

The company’s 50 day simple moving average is $14.64 and its 200 day simple moving average is $14.07.

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

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. WELLCOME TRUST LTD THE as trustee of the WELLCOME TRUST purchased a new stake in Neumora Therapeutics in the third quarter valued at approximately $46,692,000. Johnson & Johnson purchased a new stake in shares of Neumora Therapeutics during the 3rd quarter valued at $12,870,000. FMR LLC acquired a new stake in shares of Neumora Therapeutics during the 3rd quarter worth $79,360,000. Avidity Partners Management LP purchased a new position in shares of Neumora Therapeutics in the 3rd quarter worth $25,398,000. Finally, Soros Fund Management LLC acquired a new position in Neumora Therapeutics in the third quarter valued at $141,000. 47.65% of the stock is currently owned by hedge funds and other 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.