Neumora Therapeutics, Inc. (NASDAQ:NMRA) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Neumora Therapeutics, Inc. (NASDAQ:NMRA) have been assigned an average recommendation of “Moderate Buy” from the six brokerages that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $23.40.

A number of equities analysts have recently commented on NMRA shares. Needham & Company LLC restated a “buy” rating and set a $23.00 price objective on shares of Neumora Therapeutics in a research note on Wednesday, November 13th. Royal Bank of Canada reissued an “outperform” rating and set a $29.00 price target on shares of Neumora Therapeutics in a research report on Friday, November 22nd. HC Wainwright reaffirmed a “buy” rating and set a $30.00 price target on shares of Neumora Therapeutics in a research report on Monday, December 16th. Finally, JPMorgan Chase & Co. downgraded Neumora Therapeutics from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $18.00 to $15.00 in a report on Tuesday, November 5th.

Insiders Place Their Bets

In other Neumora Therapeutics news, insider Robert A. Lenz sold 5,563 shares of the company’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $15.01, for a total value of $83,500.63. Following the transaction, the insider now directly owns 322,966 shares in the company, valued at $4,847,719.66. The trade was a 1.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Matthew K. Fust sold 14,049 shares of the 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 directly owns 20,100 shares in the company, valued at $342,303. The trade was a 41.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 26.40% of the company’s stock.

Hedge Funds Weigh In On Neumora Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the company. Amalgamated Bank lifted its holdings in Neumora Therapeutics by 472.8% during the 2nd 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 stake in shares of Neumora Therapeutics during the second quarter worth $98,000. SkyOak Wealth LLC bought a new stake in shares of Neumora Therapeutics in the second quarter valued at about $147,000. Principal Financial Group Inc. acquired a new position in shares of Neumora Therapeutics in the second quarter valued at about $166,000. Finally, Intech Investment Management LLC bought a new position in Neumora Therapeutics during the third quarter worth about $175,000. Institutional investors and hedge funds own 47.65% of the company’s stock.

Neumora Therapeutics Stock Performance

Shares of Neumora Therapeutics stock opened at $10.60 on Thursday. The firm has a market cap of $1.71 billion, a PE ratio of -5.67 and a beta of 3.34. The business’s 50 day simple moving average is $10.89 and its 200 day simple moving average is $11.59. Neumora Therapeutics has a 52-week low of $8.33 and a 52-week high of $21.00.

Neumora Therapeutics (NASDAQ:NMRA) last posted its quarterly earnings data 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. As a group, equities research analysts predict that Neumora Therapeutics will post -1.61 EPS for the current 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.