Neumora Therapeutics (NASDAQ:NMRA) Earns Buy Rating from HC Wainwright

Neumora Therapeutics (NASDAQ:NMRA)‘s stock had its “buy” rating reaffirmed by stock analysts at HC Wainwright in a research note issued to investors on Monday,Benzinga reports. They currently have a $30.00 price target on the stock. HC Wainwright’s price target would suggest a potential upside of 176.12% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. cut shares of Neumora Therapeutics from an “overweight” rating to a “neutral” rating and cut their price target for the company from $18.00 to $15.00 in a report on Tuesday, November 5th. Royal Bank of Canada reissued an “outperform” rating and issued a $29.00 target price on shares of Neumora Therapeutics in a report on Friday, November 22nd. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $23.00 price objective on shares of Neumora Therapeutics in a research report on Wednesday, November 13th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $23.40.

Neumora Therapeutics Price Performance

Shares of NASDAQ NMRA opened at $10.87 on Monday. The company has a 50 day simple moving average of $11.88 and a two-hundred day simple moving average of $11.54. Neumora Therapeutics has a fifty-two week low of $8.33 and a fifty-two week high of $21.00.

Neumora Therapeutics (NASDAQ:NMRA) last released its earnings results 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 period last year, the company earned ($1.14) earnings per share. Analysts predict that Neumora Therapeutics will post -1.61 earnings per share for the current fiscal year.

Insider Transactions at Neumora Therapeutics

In related news, insider Robert A. Lenz sold 5,563 shares of the firm’s stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $15.01, for a total value of $83,500.63. Following the transaction, the insider now directly owns 322,966 shares of the company’s stock, valued at approximately $4,847,719.66. This trade represents a 1.69 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Matthew K. Fust sold 14,049 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at $342,303. This represents a 41.14 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 26.40% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. boosted its position in shares of Neumora Therapeutics by 139.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 698,255 shares of the company’s stock worth $9,224,000 after purchasing an additional 406,891 shares during the period. Point72 Asset Management L.P. purchased a new stake in Neumora Therapeutics in the 3rd quarter worth $1,097,000. Callan Capital LLC lifted its position in shares of Neumora Therapeutics by 222.6% in the second quarter. Callan Capital LLC now owns 661,194 shares of the company’s stock valued at $6,500,000 after acquiring an additional 456,207 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Neumora Therapeutics by 79.5% in the second quarter. The Manufacturers Life Insurance Company now owns 111,828 shares of the company’s stock worth $1,099,000 after acquiring an additional 49,527 shares during the period. Finally, Wexford Capital LP grew its position in shares of Neumora Therapeutics by 90.1% during the third quarter. Wexford Capital LP now owns 217,879 shares of the company’s stock worth $2,878,000 after purchasing an additional 103,285 shares in the last quarter. 47.65% of the stock is owned by hedge funds and other institutional investors.

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.