Neumora Therapeutics (NASDAQ:NMRA) Earns “Buy” Rating from Needham & Company LLC

Neumora Therapeutics (NASDAQ:NMRA)‘s stock had its “buy” rating restated by research analysts at Needham & Company LLC in a research report issued on Thursday,Benzinga reports. They presently have a $23.00 price target on the stock.

A number of other brokerages have also recently weighed in on NMRA. Royal Bank of Canada restated an “outperform” rating and issued a $29.00 price objective on shares of Neumora Therapeutics in a report on Friday, November 22nd. HC Wainwright restated a “buy” rating and issued a $30.00 price target on shares of Neumora Therapeutics in a research note on Monday, December 16th. Finally, JPMorgan Chase & Co. lowered Neumora Therapeutics from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $18.00 to $15.00 in a research report on Tuesday, November 5th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, Neumora Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $23.40.

Neumora Therapeutics Stock Down 81.3 %

NMRA opened at $1.98 on Thursday. Neumora Therapeutics has a 52 week low of $1.98 and a 52 week high of $21.00. The stock has a market cap of $319.89 million, a PE ratio of -1.06 and a beta of 3.34. The business has a 50 day moving average of $10.89 and a 200-day moving average of $11.59.

Neumora Therapeutics (NASDAQ:NMRA) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.45) EPS for the quarter, missing the consensus estimate of ($0.39) by ($0.06). During the same quarter last year, the firm earned ($1.14) earnings per share. Equities analysts anticipate that Neumora Therapeutics will post -1.61 EPS for the current year.

Insider Activity

In other news, insider Robert A. Lenz sold 5,563 shares of the firm’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $15.01, for a total transaction of $83,500.63. Following the sale, the insider now 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Matthew K. Fust sold 14,049 shares of the business’s stock in a transaction that occurred 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 transaction, the director now directly owns 20,100 shares of the company’s stock, valued at $342,303. The trade was a 41.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 26.40% of the company’s stock.

Institutional Trading of Neumora Therapeutics

A number of hedge funds have recently bought and sold shares of NMRA. Amalgamated Bank grew its position in Neumora Therapeutics by 472.8% during the second quarter. Amalgamated Bank now owns 2,910 shares of the company’s stock valued at $29,000 after buying an additional 2,402 shares during the period. Quarry LP bought a new stake in shares of Neumora Therapeutics during the 2nd quarter valued at $98,000. SkyOak Wealth LLC purchased a new stake in shares of Neumora Therapeutics in the 2nd quarter worth $147,000. Principal Financial Group Inc. bought a new position in Neumora Therapeutics in the 2nd quarter worth $166,000. Finally, Intech Investment Management LLC bought a new position in Neumora Therapeutics in the 3rd quarter worth $175,000. Hedge funds and other 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.