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

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

Several other analysts have also recently weighed in on NMRA. Royal Bank of Canada reissued an “outperform” rating and set a $29.00 price target on shares of Neumora Therapeutics in a report on Wednesday, September 4th. 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 note on Tuesday, November 5th. Finally, HC Wainwright started coverage on Neumora Therapeutics in a research note on Tuesday, October 1st. They set a “buy” rating and a $30.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $21.67.

Neumora Therapeutics Stock Down 4.7 %

NMRA opened at $10.78 on Wednesday. The stock has a market cap of $1.72 billion, a price-to-earnings ratio of -5.76 and a beta of 3.92. The business has a 50 day moving average of $13.07 and a 200-day moving average of $11.41. Neumora Therapeutics has a 12-month low of $8.33 and a 12-month high of $21.00.

Neumora Therapeutics (NASDAQ:NMRA) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.45) earnings per share for the quarter, missing the consensus estimate of ($0.38) by ($0.07). During the same period last year, the business earned ($1.14) earnings per share. As a group, analysts expect that Neumora Therapeutics will post -1.48 earnings per share for the current year.

Insider Activity

In other news, CFO Joshua Pinto sold 28,496 shares of Neumora Therapeutics stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $11.63, for a total value of $331,408.48. Following the transaction, the chief financial officer now owns 210,469 shares in the company, valued at approximately $2,447,754.47. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CFO Joshua Pinto sold 28,496 shares of Neumora Therapeutics stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $11.63, for a total value of $331,408.48. Following the transaction, the chief financial officer now owns 210,469 shares in the company, valued at approximately $2,447,754.47. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Matthew K. Fust sold 14,049 shares of the business’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $17.03, for a total value of $239,254.47. Following the sale, the director now owns 20,100 shares in the company, valued at $342,303. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 110,538 shares of company stock worth $1,390,513. Insiders own 26.40% of the company’s stock.

Institutional Investors Weigh In On Neumora Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of NMRA. Price T Rowe Associates Inc. MD bought a new stake in Neumora Therapeutics during the 1st quarter worth $10,354,000. Baker BROS. Advisors LP bought a new stake in Neumora Therapeutics during the 1st quarter worth $8,715,000. Callan Capital LLC lifted its holdings in Neumora Therapeutics by 222.6% during the 2nd quarter. Callan Capital LLC now owns 661,194 shares of the company’s stock worth $6,500,000 after buying an additional 456,207 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Neumora Therapeutics by 139.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 698,255 shares of the company’s stock worth $9,224,000 after buying an additional 406,891 shares during the period. Finally, Artal Group S.A. lifted its holdings in Neumora Therapeutics by 14.5% during the 1st quarter. Artal Group S.A. now owns 2,924,052 shares of the company’s stock worth $40,206,000 after buying an additional 371,350 shares during the period. Institutional investors own 47.65% of the company’s stock.

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.