Neumora Therapeutics (NASDAQ:NMRA) Stock Rating Reaffirmed by 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 note issued on Thursday, Benzinga reports. They presently 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 stock’s current price.

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

Neumora Therapeutics Trading Up 3.1 %

Shares of NMRA stock traded up $0.39 during mid-day trading on Thursday, reaching $13.00. 454,737 shares of the company were exchanged, compared to its average volume of 415,178. The company has a 50 day moving average price of $16.48. Neumora Therapeutics has a fifty-two week low of $9.35 and a fifty-two week high of $21.00.

Neumora Therapeutics (NASDAQ:NMRA) last posted 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. On average, research analysts predict that Neumora Therapeutics will post -1.48 EPS for the current year.

Hedge Funds Weigh In On Neumora Therapeutics

A number of hedge funds have recently modified their holdings of the stock. FMR LLC acquired a new position in Neumora Therapeutics during the third 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 3rd quarter worth about $46,692,000. Avidity Partners Management LP lifted its holdings in Neumora Therapeutics by 10.6% during the 4th quarter. Avidity Partners Management LP now owns 1,990,632 shares of the company’s stock valued at $33,940,000 after purchasing an additional 190,632 shares during the last quarter. Johnson & Johnson bought a new stake in Neumora Therapeutics during the third quarter worth about $12,870,000. Finally, Goldman Sachs Group Inc. increased its holdings 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 buying an additional 518,822 shares in the last quarter. 47.65% of the stock is owned by institutional investors and hedge funds.

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.