Principal Financial Group Inc. Acquires New Holdings in Neumora Therapeutics, Inc. (NASDAQ:NMRA)

Principal Financial Group Inc. acquired a new stake in Neumora Therapeutics, Inc. (NASDAQ:NMRA) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 16,878 shares of the company’s stock, valued at approximately $166,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Amalgamated Bank purchased a new stake in Neumora Therapeutics in the 4th quarter valued at about $29,000. New York State Common Retirement Fund purchased a new stake in Neumora Therapeutics in the 4th quarter valued at about $118,000. SG Americas Securities LLC purchased a new stake in Neumora Therapeutics in the 2nd quarter valued at about $566,000. Nan Fung Group Holdings Ltd purchased a new stake in Neumora Therapeutics in the 1st quarter valued at about $871,000. Finally, Auour Investments LLC purchased a new stake in Neumora Therapeutics in the 1st quarter valued at about $1,445,000. 47.65% of the stock is currently owned by hedge funds and other institutional investors.

Neumora Therapeutics Stock Performance

NMRA stock opened at $12.03 on Monday. The company’s 50 day moving average price is $11.59 and its 200 day moving average price is $11.55. Neumora Therapeutics, Inc. has a fifty-two week low of $8.33 and a fifty-two week high of $21.00.

Neumora Therapeutics (NASDAQ:NMRA) last released its earnings results on Tuesday, August 6th. The company reported ($0.37) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.37). Equities analysts anticipate that Neumora Therapeutics, Inc. will post -1.51 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have issued reports on NMRA shares. Needham & Company LLC reiterated a “buy” rating and set a $23.00 price target on shares of Neumora Therapeutics in a research note on Thursday. Mizuho started coverage on shares of Neumora Therapeutics in a research note on Monday, July 8th. They set an “outperform” rating and a $20.00 price target on the stock. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $29.00 price target on shares of Neumora Therapeutics in a research note on Wednesday, September 4th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $22.11.

Insider Buying and Selling

In related news, CFO Joshua Pinto sold 31,642 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $11.78, for a total value of $372,742.76. Following the completion of the transaction, the chief financial officer now directly owns 154,658 shares of the company’s stock, valued at $1,821,871.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 26.40% of the company’s stock.

Neumora Therapeutics Profile

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.