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

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

Several other brokerages also recently weighed in on NMRA. Royal Bank of Canada restated an “outperform” rating and set a $29.00 price objective on shares of Neumora Therapeutics in a research report on Wednesday, September 4th. HC Wainwright initiated coverage on shares of Neumora Therapeutics in a research report on Tuesday, October 1st. They set a “buy” rating and a $30.00 price objective for the company. Finally, JPMorgan Chase & Co. downgraded shares of Neumora Therapeutics from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $18.00 to $15.00 in a research report on Tuesday, November 5th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $21.67.

Neumora Therapeutics Stock Down 7.3 %

Neumora Therapeutics stock traded down $0.85 during trading on Wednesday, reaching $10.84. The stock had a trading volume of 956,648 shares, compared to its average volume of 730,514. Neumora Therapeutics has a 52-week low of $8.33 and a 52-week high of $21.00. The business has a 50 day moving average price of $13.10 and a 200 day moving average price of $11.42. The stock has a market cap of $1.75 billion, a PE ratio of -5.80 and a beta of 3.92.

Neumora Therapeutics (NASDAQ:NMRA) last issued 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 ($0.38) by ($0.07). During the same period in the prior year, the firm posted ($1.14) EPS. On average, equities analysts predict that Neumora Therapeutics will post -1.48 EPS for the current fiscal year.

Insider Activity

In other Neumora Therapeutics news, Director Matthew K. Fust sold 14,049 shares of the business’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $17.03, for a total value of $239,254.47. Following the transaction, the director now directly owns 20,100 shares of the company’s stock, valued at approximately $342,303. The trade was a 41.14 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Joshua Pinto sold 28,496 shares of the business’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $11.63, for a total transaction of $331,408.48. Following the completion of the transaction, the chief financial officer now directly owns 210,469 shares in the company, valued at $2,447,754.47. This represents a 11.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 110,538 shares of company stock valued at $1,390,513 in the last ninety days. 26.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Neumora Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in NMRA. Price T Rowe Associates Inc. MD acquired a new position in shares of Neumora Therapeutics during the 1st quarter worth $10,354,000. State Street Corp boosted its position in shares of Neumora Therapeutics by 65.3% in the 3rd quarter. State Street Corp now owns 1,790,707 shares of the company’s stock worth $23,655,000 after buying an additional 707,409 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Neumora Therapeutics by 54.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,979,847 shares of the company’s stock worth $26,159,000 after buying an additional 694,385 shares in the last quarter. Baker BROS. Advisors LP purchased a new stake in shares of Neumora Therapeutics in the 1st quarter worth about $8,715,000. Finally, Callan Capital LLC boosted its position in shares of Neumora Therapeutics by 222.6% in 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 in the last quarter. 47.65% of the stock is owned by institutional investors and hedge funds.

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.