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

Shares of Neumora Therapeutics, Inc. (NASDAQ:NMRA) have been assigned a consensus rating of “Moderate Buy” from the six research firms that are presently covering the company, MarketBeat reports. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $23.40.

A number of analysts recently weighed in on the stock. HC Wainwright reissued a “buy” rating and issued a $30.00 price target on shares of Neumora Therapeutics in a report on Monday, December 16th. Needham & Company LLC restated a “buy” rating and set a $23.00 target price on shares of Neumora Therapeutics in a research report on Wednesday, November 13th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $29.00 price target on shares of Neumora Therapeutics in a research note on Friday, November 22nd. Finally, JPMorgan Chase & Co. lowered Neumora Therapeutics from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $18.00 to $15.00 in a research report on Tuesday, November 5th.

Insider Buying and Selling

In other Neumora Therapeutics news, Director Matthew K. Fust sold 14,049 shares of the stock in a transaction on Friday, October 18th. The shares were sold at an average price of $17.03, for a total value of $239,254.47. Following the sale, the director now directly owns 20,100 shares in the company, valued at approximately $342,303. This trade represents a 41.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Robert A. Lenz sold 5,563 shares of the business’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $15.01, for a total transaction of $83,500.63. Following the completion of the transaction, the insider now directly owns 322,966 shares of the company’s stock, valued at $4,847,719.66. This trade represents a 1.69 % decrease in their position. The disclosure for this sale can be found here. 26.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Amalgamated Bank raised its position in shares of Neumora Therapeutics by 472.8% during the second quarter. Amalgamated Bank now owns 2,910 shares of the company’s stock worth $29,000 after purchasing an additional 2,402 shares during the period. Quarry LP bought a new position in Neumora Therapeutics in the second quarter valued at approximately $98,000. Intech Investment Management LLC bought a new position in Neumora Therapeutics in the third quarter valued at approximately $175,000. Ballentine Partners LLC acquired a new position in shares of Neumora Therapeutics in the third quarter valued at approximately $178,000. Finally, SkyOak Wealth LLC bought a new stake in shares of Neumora Therapeutics during the second quarter worth $147,000. 47.65% of the stock is currently owned by institutional investors.

Neumora Therapeutics Stock Performance

Neumora Therapeutics stock opened at $10.60 on Thursday. The business’s fifty day moving average is $10.89 and its two-hundred day moving average is $11.59. The firm has a market cap of $1.71 billion, a P/E ratio of -5.67 and a beta of 3.34. Neumora Therapeutics has a 52 week low of $8.33 and a 52 week high of $21.00.

Neumora Therapeutics (NASDAQ:NMRA) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.45) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.39) by ($0.06). During the same period last year, the business posted ($1.14) EPS. On average, equities research analysts predict that Neumora Therapeutics will post -1.61 earnings per share for the current 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.