Neumora Therapeutics (NASDAQ:NMRA) Earns “Buy” Rating from Needham & Company LLC

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

Several other research firms have also recently issued reports on NMRA. JPMorgan Chase & Co. cut shares of Neumora Therapeutics from an “overweight” rating to a “neutral” rating and cut their price target for the company from $18.00 to $15.00 in a report on Tuesday, November 5th. HC Wainwright reaffirmed a “buy” rating and issued a $30.00 price target on shares of Neumora Therapeutics in a report on Monday, December 16th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $29.00 price target on shares of Neumora Therapeutics in a report on Friday, November 22nd. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.40.

Neumora Therapeutics Trading Up 10.2 %

NASDAQ NMRA opened at $2.17 on Thursday. The company’s fifty day simple moving average is $10.47 and its 200-day simple moving average is $11.48. Neumora Therapeutics has a 52 week low of $1.83 and a 52 week high of $21.00. The stock has a market cap of $350.59 million, a P/E ratio of -1.16 and a beta of 3.34.

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 the consensus estimate of ($0.39) by ($0.06). During the same quarter in the previous year, the business earned ($1.14) EPS. On average, research analysts expect that Neumora Therapeutics will post -1.61 EPS for the current fiscal year.

Insider Buying and Selling at Neumora Therapeutics

In other news, Director Matthew K. Fust sold 14,049 shares of the company’s stock in a transaction dated 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 transaction, the director now owns 20,100 shares in the company, valued at approximately $342,303. This represents a 41.14 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Robert A. Lenz sold 5,563 shares of the company’s stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $15.01, for a total transaction of $83,500.63. Following the transaction, the insider now owns 322,966 shares of the company’s stock, valued at $4,847,719.66. This represents a 1.69 % decrease in their position. The disclosure for this sale can be found here. 26.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Neumora Therapeutics

Several institutional investors have recently modified their holdings of the company. Geode Capital Management LLC grew its position in shares of Neumora Therapeutics by 54.0% during the third quarter. Geode Capital Management LLC now owns 1,979,847 shares of the company’s stock worth $26,159,000 after acquiring an additional 694,385 shares during the last quarter. State Street Corp grew its position in shares of Neumora Therapeutics by 65.3% during 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. Charles Schwab Investment Management Inc. grew its position in shares of Neumora Therapeutics by 139.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 698,255 shares of the company’s stock worth $9,224,000 after acquiring an additional 406,891 shares during the last quarter. Callan Capital LLC grew its position in shares of Neumora Therapeutics by 222.6% during the second quarter. Callan Capital LLC now owns 661,194 shares of the company’s stock worth $6,500,000 after acquiring an additional 456,207 shares during the last quarter. Finally, Auour Investments LLC bought a new position in shares of Neumora Therapeutics during the third quarter worth about $3,302,000. Institutional investors own 47.65% of the company’s stock.

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.