Neumora Therapeutics (NASDAQ:NMRA) Stock Price Up 5.8%

Neumora Therapeutics, Inc. (NASDAQ:NMRA)’s stock price rose 5.8% during mid-day trading on Friday . The company traded as high as $9.36 and last traded at $9.36. Approximately 212,704 shares changed hands during trading, a decline of 56% from the average daily volume of 483,748 shares. The stock had previously closed at $8.85.

Wall Street Analyst Weigh In

NMRA has been the subject of a number of research reports. Royal Bank of Canada reissued an “outperform” rating and set a $31.00 target price on shares of Neumora Therapeutics in a research note on Thursday, March 28th. JPMorgan Chase & Co. lifted their price objective on shares of Neumora Therapeutics from $20.00 to $22.00 and gave the company an “overweight” rating in a research note on Monday, March 18th. Finally, William Blair reaffirmed an “outperform” rating on shares of Neumora Therapeutics in a research note on Friday, April 12th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $22.57.

Neumora Therapeutics Trading Up 7.3 %

The stock’s 50-day simple moving average is $9.67 and its two-hundred day simple moving average is $13.59.

Neumora Therapeutics (NASDAQ:NMRA) last posted its quarterly earnings data on Tuesday, May 7th. The company reported ($0.34) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.34). Equities analysts expect that Neumora Therapeutics, Inc. will post -1.46 earnings per share for the current year.

Hedge Funds Weigh In On Neumora Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NMRA. Amalgamated Bank acquired a new position in Neumora Therapeutics in the fourth quarter valued at about $29,000. Tower Research Capital LLC TRC acquired a new position in Neumora Therapeutics in the fourth quarter valued at about $44,000. Strs Ohio acquired a new position in Neumora Therapeutics in the fourth quarter valued at about $54,000. SG Americas Securities LLC acquired a new position in Neumora Therapeutics in the fourth quarter valued at about $108,000. Finally, New York State Common Retirement Fund acquired a new position in Neumora Therapeutics in the fourth quarter valued at about $118,000. 47.65% of the stock is currently owned by institutional investors and hedge funds.

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.