Neumora Therapeutics (NASDAQ:NMRA) Stock Rating Reaffirmed by Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Neumora Therapeutics (NASDAQ:NMRA) in a research report released on Thursday morning, Benzinga reports. Needham & Company LLC currently has a $23.00 target price on the stock.

Other analysts have also recently issued research reports about the company. Royal Bank of Canada reaffirmed an outperform rating and set a $29.00 target price on shares of Neumora Therapeutics in a research report on Wednesday, September 4th. Mizuho began coverage on Neumora Therapeutics in a research note on Monday, July 8th. They set an outperform rating and a $20.00 price target on the stock. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of Moderate Buy and an average target price of $22.11.

Neumora Therapeutics Price Performance

NMRA stock opened at $12.03 on Thursday. The firm has a fifty day moving average price of $11.59 and a 200 day moving average price of $11.55. 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 announced its earnings results on Tuesday, August 6th. The company reported ($0.37) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.37). As a group, research analysts forecast that Neumora Therapeutics will post -1.51 earnings per share for the current year.

Insider Transactions at Neumora Therapeutics

In other news, CFO Joshua Pinto sold 31,642 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $11.78, for a total transaction of $372,742.76. Following the completion of the sale, the chief financial officer now owns 154,658 shares in the company, valued at approximately $1,821,871.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 26.40% of the company’s stock.

Institutional Trading of Neumora Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the business. Avidity Partners Management LP grew its stake in Neumora Therapeutics by 10.6% during the 4th quarter. Avidity Partners Management LP now owns 1,990,632 shares of the company’s stock worth $33,940,000 after purchasing an additional 190,632 shares in the last quarter. Price T Rowe Associates Inc. MD purchased a new position in shares of Neumora Therapeutics in the 1st quarter valued at about $10,354,000. SG Americas Securities LLC acquired a new position in shares of Neumora Therapeutics during the second quarter worth about $566,000. New York State Common Retirement Fund acquired a new stake in Neumora Therapeutics in the fourth quarter valued at approximately $118,000. Finally, Amalgamated Bank purchased a new position in Neumora Therapeutics in the fourth quarter worth approximately $29,000. 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.