HC Wainwright Reiterates “Buy” Rating for Neumora Therapeutics (NASDAQ:NMRA)

HC Wainwright restated their buy rating on shares of Neumora Therapeutics (NASDAQ:NMRA) in a report issued on Monday morning,Benzinga reports. They currently have a $30.00 price objective on the stock.

A number of other research analysts have also issued reports on the company. Royal Bank of Canada reiterated an “outperform” rating and set a $29.00 target price on shares of Neumora Therapeutics in a research report on Friday, November 22nd. Needham & Company LLC reiterated a “buy” rating and set a $23.00 price objective on shares of Neumora Therapeutics in a research note on Wednesday, November 13th. Finally, JPMorgan Chase & Co. downgraded Neumora Therapeutics from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $18.00 to $15.00 in a research report on Tuesday, November 5th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $23.40.

Neumora Therapeutics Price Performance

NASDAQ NMRA opened at $10.87 on Monday. Neumora Therapeutics has a 1 year low of $8.33 and a 1 year high of $21.00. The company has a market cap of $1.76 billion, a price-to-earnings ratio of -5.81 and a beta of 3.34. The stock’s fifty day moving average price is $11.96 and its 200 day moving average price is $11.53.

Neumora Therapeutics (NASDAQ:NMRA) last posted its 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 posted ($1.14) EPS. Research analysts expect that Neumora Therapeutics will post -1.61 earnings per share for the current year.

Insider Activity

In related news, insider Robert A. Lenz sold 5,563 shares of the company’s stock in a transaction that occurred 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 sale, the insider now directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Matthew K. Fust sold 14,049 shares of Neumora Therapeutics stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $17.03, for a total value of $239,254.47. Following the completion of the transaction, the director now owns 20,100 shares of the company’s stock, valued at $342,303. The trade was a 41.14 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 26.40% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Geode Capital Management LLC boosted 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 acquiring an additional 694,385 shares in the last quarter. State Street Corp grew its stake in Neumora Therapeutics by 65.3% during 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 during the last quarter. Charles Schwab Investment Management Inc. lifted 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 buying an additional 406,891 shares during the last quarter. Callan Capital LLC increased its holdings 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 valued at $6,500,000 after acquiring an additional 456,207 shares during the period. Finally, Auour Investments LLC purchased a new stake in Neumora Therapeutics in the 3rd quarter valued at $3,302,000. Institutional investors and hedge funds 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.