Neumora Therapeutics (NASDAQ:NMRA) Earns “Buy” Rating from HC Wainwright

HC Wainwright reiterated their buy rating on shares of Neumora Therapeutics (NASDAQ:NMRA) in a research report released on Friday morning,Benzinga reports. HC Wainwright currently has a $30.00 price target on the stock.

Several other analysts have also recently weighed in on the company. JPMorgan Chase & Co. cut Neumora Therapeutics from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $18.00 to $15.00 in a report on Tuesday, November 5th. Needham & Company LLC reissued a “buy” rating and set a $23.00 price target on shares of Neumora Therapeutics in a report on Thursday. Finally, Royal Bank of Canada cut Neumora Therapeutics from an “outperform” rating to a “sector perform” rating and dropped their price target for the stock from $29.00 to $4.00 in a report on Thursday. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $18.40.

Neumora Therapeutics Stock Up 10.2 %

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 stock has a market cap of $350.59 million, a price-to-earnings ratio of -1.16 and a beta of 3.34. The business has a 50 day moving average of $10.47 and a 200-day moving average of $11.51.

Neumora Therapeutics (NASDAQ:NMRA) last released its quarterly 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 period last year, the business earned ($1.14) earnings per share. As a group, analysts expect that Neumora Therapeutics will post -1.61 earnings per share for the current year.

Insider Buying and Selling at Neumora Therapeutics

In other news, insider Robert A. Lenz sold 5,563 shares of Neumora Therapeutics stock in a transaction on 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 in the company, valued at approximately $4,847,719.66. This trade represents a 1.69 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Matthew K. Fust sold 14,049 shares of Neumora Therapeutics 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 completion of the transaction, the director now owns 20,100 shares in the company, valued at approximately $342,303. The trade was a 41.14 % decrease in their position. The disclosure for this sale can be found here. Insiders own 26.40% of the company’s stock.

Hedge Funds Weigh In On Neumora Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the business. Geode Capital Management LLC increased its stake 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 valued at $26,159,000 after purchasing an additional 694,385 shares during the last quarter. Barclays PLC increased its stake in shares of Neumora Therapeutics by 352.9% in the 3rd 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 during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Neumora Therapeutics by 139.7% in the 3rd 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 during the last quarter. Point72 Asset Management L.P. bought a new position in shares of Neumora Therapeutics in the 3rd quarter valued at $1,097,000. Finally, Callan Capital LLC increased its stake 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 purchasing an additional 456,207 shares during the last quarter. Institutional investors own 47.65% of the company’s stock.

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.