Needham & Company LLC Reiterates “Buy” Rating for Neumora Therapeutics (NASDAQ:NMRA)

Needham & Company LLC reissued their buy rating on shares of Neumora Therapeutics (NASDAQ:NMRA) in a research report released on Friday morning, Benzinga reports. The brokerage currently has a $23.00 target price on the stock.

NMRA has been the topic of a number of other research reports. HC Wainwright assumed coverage on Neumora Therapeutics in a research report on Tuesday, October 1st. They set a “buy” rating and a $30.00 price target on the stock. Mizuho started coverage on Neumora Therapeutics in a research report on Monday, July 8th. They set an “outperform” rating and a $20.00 target price for the company. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $29.00 price target on shares of Neumora Therapeutics in a research report on Wednesday, September 4th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.83.

Neumora Therapeutics Stock Performance

NMRA opened at $16.49 on Friday. The stock has a fifty day moving average of $12.73 and a 200-day moving average of $11.33. Neumora Therapeutics has a fifty-two week low of $8.33 and a fifty-two week high of $21.00. The company has a market capitalization of $2.63 billion and a P/E ratio of -6.44.

Neumora Therapeutics (NASDAQ:NMRA) last posted its quarterly earnings data on Tuesday, August 6th. The company reported ($0.37) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.37). On average, equities research analysts predict that Neumora Therapeutics will post -1.48 earnings per share for the current fiscal year.

Insider Buying and Selling at Neumora Therapeutics

In other Neumora Therapeutics news, CFO Joshua Pinto sold 31,642 shares of the firm’s stock in a transaction 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 sale, the chief financial officer now owns 154,658 shares of the company’s stock, valued at approximately $1,821,871.24. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Neumora Therapeutics news, CFO Joshua Pinto sold 31,642 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $11.78, for a total transaction of $372,742.76. Following the completion of the transaction, the chief financial officer now owns 154,658 shares of the company’s stock, valued at approximately $1,821,871.24. The trade was a 0.00 % decrease in their ownership of the stock. 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 shares were sold at an average price of $11.81, for a total transaction of $363,606.28. Following the completion of the sale, the insider now owns 339,205 shares in the company, valued at approximately $4,006,011.05. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 110,538 shares of company stock worth $1,390,513 over the last three months. Corporate insiders own 26.40% of the company’s stock.

Institutional Trading of Neumora Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of NMRA. Amalgamated Bank lifted its stake in shares of Neumora Therapeutics by 472.8% in the 2nd quarter. Amalgamated Bank now owns 2,910 shares of the company’s stock valued at $29,000 after acquiring an additional 2,402 shares during the last quarter. Quarry LP acquired a new position in Neumora Therapeutics in the 2nd quarter worth about $98,000. SkyOak Wealth LLC acquired a new position in Neumora Therapeutics in the 2nd quarter worth about $147,000. Principal Financial Group Inc. bought a new position in Neumora Therapeutics in the second quarter valued at about $166,000. Finally, Clarius Group LLC acquired a new stake in shares of Neumora Therapeutics during the third quarter valued at about $224,000. Institutional investors own 47.65% of the company’s stock.

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.