Brokerages Set Neumora Therapeutics, Inc. (NASDAQ:NMRA) Target Price at $23.40

Shares of Neumora Therapeutics, Inc. (NASDAQ:NMRA) have received an average recommendation of “Moderate Buy” from the six research firms that are covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $18.40.

A number of research firms have commented on NMRA. HC Wainwright reaffirmed a “buy” rating and set a $30.00 price objective on shares of Neumora Therapeutics in a research report on Friday. Royal Bank of Canada downgraded shares of Neumora Therapeutics from an “outperform” rating to a “sector perform” rating and cut their price objective for the stock from $29.00 to $4.00 in a research report on Thursday. JPMorgan Chase & Co. downgraded Neumora Therapeutics from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $18.00 to $15.00 in a research report on Tuesday, November 5th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $23.00 price objective on shares of Neumora Therapeutics in a report on Thursday.

Insider Buying and Selling

In other news, Director Matthew K. Fust sold 14,049 shares of the company’s 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 transaction, the director now owns 20,100 shares of the company’s stock, valued at approximately $342,303. This represents a 41.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Robert A. Lenz sold 5,563 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $4,847,719.66. The trade was a 1.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 26.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Neumora Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Amalgamated Bank grew its holdings in Neumora Therapeutics by 472.8% in the 2nd quarter. Amalgamated Bank now owns 2,910 shares of the company’s stock worth $29,000 after acquiring an additional 2,402 shares during the last quarter. Quarry LP purchased a new position in shares of Neumora Therapeutics during the second quarter valued at approximately $98,000. SkyOak Wealth LLC purchased a new stake in Neumora Therapeutics in the second quarter worth $147,000. Principal Financial Group Inc. bought a new stake in Neumora Therapeutics in the second quarter valued at $166,000. Finally, Intech Investment Management LLC purchased a new position in Neumora Therapeutics during the 3rd quarter valued at $175,000. 47.65% of the stock is currently owned by hedge funds and other institutional investors.

Neumora Therapeutics Stock Performance

Shares of Neumora Therapeutics stock opened at $2.17 on Thursday. Neumora Therapeutics has a 52 week low of $1.83 and a 52 week high of $21.00. The firm has a fifty day moving average of $10.47 and a two-hundred day moving average of $11.48. The stock has a market capitalization of $350.59 million, a price-to-earnings ratio of -1.16 and a beta of 3.34.

Neumora Therapeutics (NASDAQ:NMRA) last announced its 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 in the previous year, the business earned ($1.14) EPS. As a group, research analysts forecast that Neumora Therapeutics will post -1.61 EPS for the current fiscal year.

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.