Neumora Therapeutics’ (NMRA) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright reissued their buy rating on shares of Neumora Therapeutics (NASDAQ:NMRA) in a report issued on Friday,Benzinga reports. The brokerage currently has a $30.00 price objective on the stock.

Other equities analysts have also issued research reports about the company. JPMorgan Chase & Co. lowered Neumora Therapeutics from an “overweight” rating to a “neutral” rating and cut their target price for the company from $18.00 to $15.00 in a research note on Tuesday, November 5th. Needham & Company LLC restated a “buy” rating and issued a $23.00 price target on shares of Neumora Therapeutics in a report on Thursday. Finally, Royal Bank of Canada downgraded Neumora Therapeutics from an “outperform” rating to a “sector perform” rating and lowered their price target for the stock from $29.00 to $4.00 in a report on Thursday. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Neumora Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $18.40.

Neumora Therapeutics Stock Up 10.2 %

Shares of NMRA opened at $2.17 on Friday. Neumora Therapeutics has a 12-month low of $1.83 and a 12-month high of $21.00. The firm has a market capitalization of $350.59 million, a PE ratio of -1.16 and a beta of 3.34. The stock’s fifty day simple moving average is $10.47 and its 200-day simple moving average is $11.51.

Neumora Therapeutics (NASDAQ:NMRA) last released its earnings results 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 previous year, the business earned ($1.14) earnings per share. Analysts anticipate that Neumora Therapeutics will post -1.61 EPS for the current year.

Insider Buying and Selling

In related news, Director Matthew K. Fust sold 14,049 shares of the stock in a transaction dated Friday, October 18th. The stock was 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 directly owns 20,100 shares in the company, valued at approximately $342,303. This trade represents a 41.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Robert A. Lenz sold 5,563 shares of the stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $15.01, for a total value of $83,500.63. Following the transaction, the insider now owns 322,966 shares of the company’s stock, valued at approximately $4,847,719.66. The trade was a 1.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 26.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC grew its stake in Neumora Therapeutics by 54.0% in the third 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 in the last quarter. Barclays PLC grew its stake in Neumora Therapeutics by 352.9% in the third 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 in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Neumora Therapeutics by 139.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 698,255 shares of the company’s stock valued at $9,224,000 after purchasing an additional 406,891 shares in the last quarter. Point72 Asset Management L.P. bought a new position in Neumora Therapeutics in the third quarter valued at approximately $1,097,000. Finally, Callan Capital LLC grew its stake in Neumora Therapeutics by 222.6% in the second quarter. Callan Capital LLC now owns 661,194 shares of the company’s stock valued at $6,500,000 after purchasing an additional 456,207 shares in the last quarter. 47.65% of the stock is currently owned by institutional investors.

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.