Brokerages Set Neumora Therapeutics, Inc. (NASDAQ:NMRA) PT at $23.40

Shares of Neumora Therapeutics, Inc. (NASDAQ:NMRA) have been given a consensus recommendation of “Moderate Buy” by the seven analysts that are covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $16.50.

Several research firms have commented on NMRA. Needham & Company LLC reiterated a “buy” rating and set a $23.00 price target on shares of Neumora Therapeutics in a report on Thursday, January 2nd. HC Wainwright reissued a “buy” rating and issued a $30.00 target price on shares of Neumora Therapeutics in a report on Friday. Bank of America decreased their price target on Neumora Therapeutics from $22.00 to $7.00 and set a “buy” rating for the company in a report on Monday. Royal Bank of Canada cut Neumora Therapeutics from an “outperform” rating to a “sector perform” rating and lowered their price objective for the stock from $29.00 to $4.00 in a research report on Thursday, January 2nd. Finally, JPMorgan Chase & Co. lowered Neumora Therapeutics from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $18.00 to $15.00 in a research report on Tuesday, November 5th.

Insider Transactions at Neumora Therapeutics

In related news, Director Matthew K. Fust sold 14,049 shares of the stock in a transaction on Friday, October 18th. The shares were sold at an average price of $17.03, for a total transaction of $239,254.47. Following the completion of the sale, the director now owns 20,100 shares in the company, valued at $342,303. This represents a 41.14 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Robert A. Lenz sold 5,563 shares of Neumora Therapeutics stock in a transaction 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 transaction, the insider now owns 322,966 shares in the company, valued at approximately $4,847,719.66. This represents a 1.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 26.40% of the company’s stock.

Institutional Trading of Neumora Therapeutics

A number of hedge funds have recently added to or reduced their stakes in the stock. Amalgamated Bank raised its stake in shares of 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 purchasing an additional 2,402 shares during the last quarter. Quarry LP acquired a new position in Neumora Therapeutics in the 2nd quarter valued at $98,000. Intech Investment Management LLC purchased a new position in Neumora Therapeutics during the 3rd quarter worth $175,000. Ballentine Partners LLC acquired a new stake in shares of Neumora Therapeutics in the 3rd quarter worth $178,000. Finally, SkyOak Wealth LLC purchased a new stake in shares of Neumora Therapeutics in the second quarter valued at about $147,000. 47.65% of the stock is owned by institutional investors and hedge funds.

Neumora Therapeutics Trading Up 14.3 %

Shares of NASDAQ NMRA opened at $2.48 on Thursday. The stock has a market cap of $400.67 million, a P/E ratio of -1.33 and a beta of 2.71. The business’s fifty day simple moving average is $10.28 and its 200-day simple moving average is $11.46. Neumora Therapeutics has a 12-month low of $1.83 and a 12-month high of $21.00.

Neumora Therapeutics (NASDAQ:NMRA) last posted its quarterly 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 quarter in the prior year, the business earned ($1.14) earnings per share. On average, equities analysts forecast that Neumora Therapeutics will post -1.61 EPS for the current fiscal year.

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.