Neumora Therapeutics, Inc. (NASDAQ:NMRA) Receives $21.67 Average Target Price from Analysts

Shares of Neumora Therapeutics, Inc. (NASDAQ:NMRA) have received a consensus recommendation of “Moderate Buy” from the seven brokerages that are covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $21.67.

NMRA has been the topic of a number of recent analyst reports. Needham & Company LLC reiterated a “buy” rating and set a $23.00 target price on shares of Neumora Therapeutics in a research report on Wednesday, November 13th. JPMorgan Chase & Co. lowered Neumora Therapeutics from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $18.00 to $15.00 in a report on Tuesday, November 5th. Royal Bank of Canada restated an “outperform” rating and issued a $29.00 price objective on shares of Neumora Therapeutics in a report on Friday, November 22nd. Finally, HC Wainwright restated a “buy” rating and issued a $30.00 price objective on shares of Neumora Therapeutics in a report on Wednesday, November 13th.

Neumora Therapeutics Price Performance

Shares of NASDAQ:NMRA opened at $10.39 on Friday. Neumora Therapeutics has a 1 year low of $8.33 and a 1 year high of $21.00. The firm has a market capitalization of $1.68 billion, a price-to-earnings ratio of -5.48 and a beta of 3.37. The business’s 50 day moving average price is $12.31 and its 200-day moving average price is $11.49.

Neumora Therapeutics (NASDAQ:NMRA) last announced 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 previous year, the firm posted ($1.14) earnings per share. On average, sell-side analysts expect that Neumora Therapeutics will post -1.61 earnings per share for the current year.

Insiders Place Their Bets

In other Neumora Therapeutics news, insider Robert A. Lenz sold 30,788 shares of the firm’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $11.81, for a total value of $363,606.28. Following the completion of the sale, the insider now directly owns 339,205 shares of the company’s stock, valued at $4,006,011.05. This trade represents a 8.32 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Matthew K. Fust sold 14,049 shares of the firm’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $17.03, for a total value of $239,254.47. Following the completion of the sale, the director now directly owns 20,100 shares of the company’s stock, valued at $342,303. This trade represents a 41.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 50,400 shares of company stock valued at $686,361 in the last three months. 26.40% of the stock is currently owned by insiders.

Institutional Trading of Neumora Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of NMRA. Amalgamated Bank increased its position in shares of 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 2nd quarter worth about $98,000. SkyOak Wealth LLC acquired a new stake in shares of Neumora Therapeutics during the 2nd quarter worth about $147,000. Principal Financial Group Inc. acquired a new stake in shares of Neumora Therapeutics during the 2nd quarter worth about $166,000. Finally, Intech Investment Management LLC acquired a new stake in shares of Neumora Therapeutics during the 3rd quarter worth about $175,000. 47.65% of the stock is owned by institutional investors and hedge funds.

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.