Neumora Therapeutics’ (NMRA) “Outperform” Rating Reiterated at Royal Bank of Canada

Neumora Therapeutics (NASDAQ:NMRA)‘s stock had its “outperform” rating restated by equities research analysts at Royal Bank of Canada in a research note issued on Friday,Benzinga reports. They currently have a $29.00 target price on the stock. Royal Bank of Canada’s price target indicates a potential upside of 198.97% from the stock’s current price.

Several other equities research analysts have also recently weighed in on NMRA. Needham & Company LLC reissued a “buy” rating and issued a $23.00 price objective on shares of Neumora Therapeutics in a research report on Wednesday, November 13th. JPMorgan Chase & Co. cut 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. Finally, HC Wainwright reissued a “buy” rating and issued a $30.00 price objective on shares of Neumora Therapeutics in a research report on Wednesday, November 13th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $21.67.

Neumora Therapeutics Stock Up 0.1 %

NMRA stock traded up $0.01 during midday trading on Friday, hitting $9.70. 152,483 shares of the company traded hands, compared to its average volume of 732,039. Neumora Therapeutics has a twelve month low of $8.33 and a twelve month high of $21.00. The stock has a market capitalization of $1.57 billion, a price-to-earnings ratio of -5.22 and a beta of 3.92. The business has a 50 day simple moving average of $12.96 and a 200-day simple moving average of $11.44.

Neumora Therapeutics (NASDAQ:NMRA) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.45) earnings per share for the quarter, missing the consensus estimate of ($0.39) by ($0.06). During the same quarter in the prior year, the company earned ($1.14) earnings per share. Equities research analysts forecast that Neumora Therapeutics will post -1.58 EPS for the current year.

Insider Buying and Selling

In related news, CFO Joshua Pinto sold 31,642 shares of Neumora Therapeutics stock in a transaction dated 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 transaction, the chief financial officer now directly owns 154,658 shares of the company’s stock, valued at $1,821,871.24. This trade represents a 16.98 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Robert A. Lenz sold 30,788 shares of Neumora Therapeutics stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $11.81, for a total transaction of $363,606.28. Following the transaction, the insider now directly owns 339,205 shares of the company’s stock, valued at $4,006,011.05. This represents a 8.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 82,042 shares of company stock valued at $1,059,104 over the last ninety days. 26.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Neumora Therapeutics

Several institutional investors have recently added to or reduced their stakes in the company. Barclays PLC lifted its holdings in Neumora Therapeutics by 352.9% during the 3rd quarter. Barclays PLC now owns 129,210 shares of the company’s stock valued at $1,708,000 after purchasing an additional 100,678 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Neumora Therapeutics by 54.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,979,847 shares of the company’s stock valued at $26,159,000 after purchasing an additional 694,385 shares during the last quarter. Wexford Capital LP raised its stake in shares of Neumora Therapeutics by 90.1% in the third quarter. Wexford Capital LP now owns 217,879 shares of the company’s stock worth $2,878,000 after acquiring an additional 103,285 shares during the last quarter. State Street Corp raised its stake in shares of Neumora Therapeutics by 65.3% in the third quarter. State Street Corp now owns 1,790,707 shares of the company’s stock worth $23,655,000 after acquiring an additional 707,409 shares during the last quarter. Finally, Point72 Asset Management L.P. bought a new position in shares of Neumora Therapeutics in the third quarter worth about $1,097,000. 47.65% of the stock is owned by institutional investors.

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.