Neumora Therapeutics (NASDAQ:NMRA) Trading Up 5.2%

Neumora Therapeutics, Inc. (NASDAQ:NMRA) shares traded up 5.2% during mid-day trading on Wednesday . The stock traded as high as $12.43 and last traded at $12.34. 189,205 shares changed hands during trading, a decline of 68% from the average session volume of 596,284 shares. The stock had previously closed at $11.73.

Analyst Upgrades and Downgrades

NMRA has been the topic of a number of research reports. Needham & Company LLC reissued a “buy” rating and issued a $23.00 target price on shares of Neumora Therapeutics in a research note on Thursday, September 12th. Mizuho assumed coverage on Neumora Therapeutics in a research report on Monday, July 8th. They issued an “outperform” rating and a $20.00 price objective on the stock. Finally, Royal Bank of Canada restated an “outperform” rating and set a $29.00 price objective 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 assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $22.11.

Neumora Therapeutics Stock Performance

The stock has a 50-day moving average price of $11.70 and a 200-day moving average price of $11.48.

Neumora Therapeutics (NASDAQ:NMRA) last announced its earnings results on Tuesday, August 6th. The company reported ($0.37) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.37). As a group, research analysts predict that Neumora Therapeutics, Inc. will post -1.51 EPS for the current year.

Insider Transactions at Neumora Therapeutics

In other news, insider Robert A. Lenz sold 30,788 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $11.81, for a total value of $363,606.28. Following the completion of the sale, the insider now directly owns 339,205 shares in the company, valued at approximately $4,006,011.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Joshua Pinto sold 28,496 shares of the stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $11.63, for a total transaction of $331,408.48. Following the sale, the chief financial officer now directly owns 210,469 shares in the company, valued at approximately $2,447,754.47. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Robert A. Lenz sold 30,788 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $11.81, for a total value of $363,606.28. Following the completion of the sale, the insider now directly owns 339,205 shares in the company, valued at approximately $4,006,011.05. The disclosure for this sale can be found here. In the last 90 days, insiders sold 90,926 shares of company stock valued at $1,067,758. Insiders own 26.40% of the company’s stock.

Institutional Investors Weigh In On Neumora Therapeutics

Several large investors have recently added to or reduced their stakes in the stock. Artal Group S.A. lifted its position in Neumora Therapeutics by 14.5% in the 1st quarter. Artal Group S.A. now owns 2,924,052 shares of the company’s stock valued at $40,206,000 after purchasing an additional 371,350 shares during the last quarter. Avidity Partners Management LP increased its stake in shares of Neumora Therapeutics by 10.6% in the fourth 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 period. Price T Rowe Associates Inc. MD bought a new stake in shares of Neumora Therapeutics during the first quarter valued at approximately $10,354,000. Callan Capital LLC boosted its position in shares of Neumora Therapeutics by 222.6% during the second quarter. Callan Capital LLC now owns 661,194 shares of the company’s stock worth $6,500,000 after buying an additional 456,207 shares during the period. Finally, Baker BROS. Advisors LP bought a new position in Neumora Therapeutics in the 1st quarter worth approximately $8,715,000. 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.