Neumora Therapeutics (NASDAQ:NMRA) Given Buy Rating at HC Wainwright

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

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

Neumora Therapeutics Stock Up 10.2 %

NASDAQ NMRA opened at $2.17 on Friday. The business has a 50 day moving average price of $10.67 and a two-hundred day moving average price of $11.53. The stock has a market cap of $350.59 million, a PE ratio of -1.16 and a beta of 3.34. Neumora Therapeutics has a fifty-two week low of $1.83 and a fifty-two week high of $21.00.

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 analysts’ consensus estimates of ($0.39) by ($0.06). During the same period last year, the business earned ($1.14) EPS. Sell-side analysts anticipate that Neumora Therapeutics will post -1.61 EPS for the current fiscal year.

Insider Buying and Selling at Neumora Therapeutics

In other news, Director Matthew K. Fust sold 14,049 shares of Neumora Therapeutics stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $17.03, for a total transaction of $239,254.47. Following the completion of the sale, the director now directly owns 20,100 shares in the company, valued at $342,303. The trade was a 41.14 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Robert A. Lenz sold 5,563 shares of the stock in a transaction 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 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 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 have recently made changes to their positions in the business. JPMorgan Chase & Co. raised its position in shares of Neumora Therapeutics by 2.6% during the third quarter. JPMorgan Chase & Co. now owns 64,421 shares of the company’s stock valued at $851,000 after buying an additional 1,629 shares during the last quarter. Barclays PLC grew its stake in Neumora Therapeutics by 352.9% during the third quarter. Barclays PLC now owns 129,210 shares of the company’s stock worth $1,708,000 after buying an additional 100,678 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Neumora Therapeutics by 54.0% during the third quarter. Geode Capital Management LLC now owns 1,979,847 shares of the company’s stock worth $26,159,000 after buying an additional 694,385 shares in the last quarter. Wexford Capital LP raised its stake in shares of Neumora Therapeutics by 90.1% in the third quarter. Wexford Capital LP now owns 217,879 shares of the company’s stock valued at $2,878,000 after acquiring an additional 103,285 shares during the last quarter. Finally, State Street Corp increased its stake in shares of Neumora Therapeutics by 65.3% in the third quarter. State Street Corp now owns 1,790,707 shares of the company’s stock valued at $23,655,000 after buying an additional 707,409 shares in the last quarter. 47.65% of the stock is currently owned by institutional investors.

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.