Neumora Therapeutics, Inc. (NASDAQ:NMRA) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Neumora Therapeutics, Inc. (NASDAQ:NMRA) have been assigned an average rating of “Moderate Buy” from the seven brokerages that are covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $21.67.

A number of analysts recently weighed in on NMRA shares. Royal Bank of Canada restated an “outperform” rating and issued a $29.00 target price on shares of Neumora Therapeutics in a research report on Wednesday, September 4th. JPMorgan Chase & Co. cut shares of Neumora Therapeutics from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $18.00 to $15.00 in a research report on Tuesday, November 5th. HC Wainwright reiterated a “buy” rating and set a $30.00 target price on shares of Neumora Therapeutics in a report on Wednesday, November 13th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $23.00 price objective on shares of Neumora Therapeutics in a research report on Wednesday, November 13th.

Insider Buying and Selling

In other news, Director Matthew K. Fust sold 14,049 shares of the firm’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $17.03, for a total transaction of $239,254.47. Following the sale, the director now directly owns 20,100 shares in the company, valued at $342,303. This trade represents a 41.14 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Joshua Pinto sold 28,496 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $11.63, for a total value of $331,408.48. Following the completion of the transaction, the chief financial officer now directly owns 210,469 shares in the company, valued at approximately $2,447,754.47. This represents a 11.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 110,538 shares of company stock valued at $1,390,513. 26.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Neumora Therapeutics

Several hedge funds have recently modified their holdings of the stock. Amalgamated Bank increased its holdings in 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 purchased a new stake in Neumora Therapeutics during the second quarter valued at approximately $98,000. SkyOak Wealth LLC bought a new stake in shares of Neumora Therapeutics in the 2nd quarter valued at approximately $147,000. Principal Financial Group Inc. purchased a new position in shares of Neumora Therapeutics in the 2nd quarter worth approximately $166,000. Finally, Intech Investment Management LLC bought a new position in shares of Neumora Therapeutics during the 3rd quarter valued at approximately $175,000. Hedge funds and other institutional investors own 47.65% of the company’s stock.

Neumora Therapeutics Stock Down 7.3 %

NMRA stock opened at $10.84 on Wednesday. The firm has a market capitalization of $1.75 billion, a PE ratio of -5.80 and a beta of 3.92. Neumora Therapeutics has a twelve month low of $8.33 and a twelve month high of $21.00. The stock’s 50 day moving average is $13.10 and its 200-day moving average is $11.45.

Neumora Therapeutics (NASDAQ:NMRA) last posted its earnings results on Tuesday, November 12th. The company reported ($0.45) earnings per share for the quarter, missing the consensus estimate of ($0.39) by ($0.06). During the same period in the previous year, the firm posted ($1.14) EPS. On average, equities research analysts anticipate that Neumora Therapeutics will post -1.58 earnings per share for the current fiscal year.

Neumora Therapeutics Company 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.