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

Neumora Therapeutics (NASDAQ:NMRA)‘s stock had its “buy” rating reaffirmed by stock analysts at HC Wainwright in a report issued on Monday,Benzinga reports. They presently have a $30.00 target price on the stock. HC Wainwright’s price target points to a potential upside of 176.12% from the stock’s previous close.

Several other research firms have also issued reports on NMRA. JPMorgan Chase & Co. lowered Neumora Therapeutics from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $18.00 to $15.00 in a research note on Tuesday, November 5th. Needham & Company LLC reaffirmed a “buy” rating and issued a $23.00 target price on shares of Neumora Therapeutics in a research note on Wednesday, November 13th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $29.00 price target on shares of Neumora Therapeutics in a report on Friday, November 22nd. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $23.40.

Neumora Therapeutics Price Performance

Shares of NMRA opened at $10.87 on Monday. Neumora Therapeutics has a 52-week low of $8.33 and a 52-week high of $21.00. The stock’s 50-day simple moving average is $11.88 and its 200 day simple moving average is $11.54.

Neumora Therapeutics (NASDAQ:NMRA) last announced its quarterly 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 period in the previous year, the firm earned ($1.14) EPS. Sell-side analysts anticipate that Neumora Therapeutics will post -1.61 earnings per share for the current year.

Insider Buying and Selling

In other Neumora Therapeutics news, Director Matthew K. Fust sold 14,049 shares of the business’s stock in a transaction that occurred 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 owns 20,100 shares in the company, valued at approximately $342,303. The trade was a 41.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Robert A. Lenz sold 5,563 shares of the firm’s stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $15.01, for a total transaction of $83,500.63. Following the completion of the transaction, the insider now owns 322,966 shares in the company, valued at $4,847,719.66. This represents a 1.69 % decrease in their position. The disclosure for this sale can be found here. 26.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Neumora Therapeutics

A number of large investors have recently added to or reduced their stakes in NMRA. Amalgamated Bank increased its holdings in Neumora Therapeutics by 472.8% during the 2nd quarter. Amalgamated Bank now owns 2,910 shares of the company’s stock valued at $29,000 after purchasing an additional 2,402 shares during the period. Quarry LP purchased a new stake in Neumora Therapeutics in the second quarter worth $98,000. Intech Investment Management LLC bought a new stake in Neumora Therapeutics in the third quarter valued at $175,000. Ballentine Partners LLC purchased a new position in Neumora Therapeutics during the 3rd quarter valued at $178,000. Finally, SkyOak Wealth LLC bought a new position in Neumora Therapeutics in the 2nd quarter worth $147,000. Institutional investors 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.