Neumora Therapeutics’ (NMRA) “Buy” Rating Reiterated at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Neumora Therapeutics (NASDAQ:NMRA) in a research report sent to investors on Thursday,Benzinga reports. They currently have a $23.00 price target on the stock.

A number of other equities research analysts also recently commented on the stock. HC Wainwright reiterated a “buy” rating and set a $30.00 price target on shares of Neumora Therapeutics in a report on Monday, December 16th. Royal Bank of Canada reiterated an “outperform” rating and set a $29.00 price target on shares of Neumora Therapeutics in a report on Friday, November 22nd. Finally, JPMorgan Chase & Co. downgraded shares of Neumora Therapeutics from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $18.00 to $15.00 in a report on Tuesday, November 5th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $18.40.

Neumora Therapeutics Trading Up 10.2 %

Shares of NMRA opened at $2.17 on Thursday. The stock has a market cap of $350.59 million, a P/E ratio of -1.16 and a beta of 3.34. The company has a 50-day moving average of $10.47 and a two-hundred day moving average of $11.48. Neumora Therapeutics has a 12-month low of $1.83 and a 12-month high of $21.00.

Neumora Therapeutics (NASDAQ:NMRA) last announced its earnings results on Tuesday, November 12th. The company reported ($0.45) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.06). During the same period in the prior year, the business posted ($1.14) EPS. As a group, analysts forecast that Neumora Therapeutics will post -1.61 EPS for the current fiscal year.

Insider Activity at Neumora Therapeutics

In other Neumora Therapeutics news, insider Robert A. Lenz sold 5,563 shares of the business’s stock in a transaction that occurred 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 sale, the insider now directly owns 322,966 shares in the company, valued at $4,847,719.66. The trade was a 1.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Matthew K. Fust sold 14,049 shares of the business’s stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $17.03, for a total transaction of $239,254.47. Following the sale, the director now owns 20,100 shares of the company’s stock, valued at approximately $342,303. This represents a 41.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 26.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Neumora Therapeutics

Several institutional investors have recently bought and sold shares of the business. JPMorgan Chase & Co. grew its stake in Neumora Therapeutics by 2.6% during the third quarter. JPMorgan Chase & Co. now owns 64,421 shares of the company’s stock worth $851,000 after buying an additional 1,629 shares during the period. Amalgamated Bank grew its stake in 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 buying an additional 2,402 shares during the period. Handelsbanken Fonder AB lifted its position in shares of Neumora Therapeutics by 35.0% during the third quarter. Handelsbanken Fonder AB now owns 26,600 shares of the company’s stock worth $351,000 after purchasing an additional 6,900 shares in the last quarter. Quarry LP acquired a new position in shares of Neumora Therapeutics during the second quarter worth $98,000. Finally, Intech Investment Management LLC acquired a new position in shares of Neumora Therapeutics during the third quarter worth $175,000. 47.65% of the stock is currently 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.