Analysts Set Neumora Therapeutics, Inc. (NASDAQ:NMRA) Target Price at $21.67

Neumora Therapeutics, Inc. (NASDAQ:NMRA) has been assigned an average rating of “Moderate Buy” from the seven research firms that are currently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $21.67.

A number of equities research analysts recently commented on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $29.00 price target on shares of Neumora Therapeutics in a report on Wednesday, September 4th. HC Wainwright reaffirmed a “buy” rating and set a $30.00 price objective on shares of Neumora Therapeutics in a research note on Wednesday. Needham & Company LLC reissued a “buy” rating and issued a $23.00 target price on shares of Neumora Therapeutics in a research note on Wednesday. Finally, JPMorgan Chase & Co. lowered Neumora Therapeutics from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $18.00 to $15.00 in a research report on Tuesday, November 5th.

Insiders Place Their Bets

In other Neumora Therapeutics news, insider Robert A. Lenz sold 5,563 shares of the 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. This represents a 1.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Matthew K. Fust sold 14,049 shares of the business’s stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $17.03, for a total value of $239,254.47. Following the sale, 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 disclosure for this sale can be found here. In the last quarter, insiders sold 110,538 shares of company stock valued at $1,390,513. Corporate insiders own 26.40% of the company’s stock.

Hedge Funds Weigh In On Neumora Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of NMRA. Barclays PLC grew its stake in shares of Neumora Therapeutics by 352.9% during the 3rd quarter. Barclays PLC now owns 129,210 shares of the company’s stock valued at $1,708,000 after acquiring an additional 100,678 shares during the period. Wexford Capital LP boosted its stake in Neumora Therapeutics by 90.1% in the 3rd quarter. Wexford Capital LP now owns 217,879 shares of the company’s stock worth $2,878,000 after purchasing an additional 103,285 shares during the period. State Street Corp grew its holdings in Neumora Therapeutics by 65.3% during the 3rd 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. Point72 Asset Management L.P. bought a new stake in shares of Neumora Therapeutics during the third quarter valued at approximately $1,097,000. Finally, Cerity Partners LLC purchased a new position in shares of Neumora Therapeutics in the third quarter worth $3,209,000. 47.65% of the stock is currently owned by hedge funds and other institutional investors.

Neumora Therapeutics Stock Down 7.3 %

Neumora Therapeutics stock opened at $10.84 on Wednesday. The firm has a fifty day simple moving average of $13.09 and a two-hundred day simple moving average of $11.41. Neumora Therapeutics has a twelve month low of $8.33 and a twelve month high of $21.00. The company has a market capitalization of $1.75 billion, a PE ratio of -5.84 and a beta of 3.92.

Neumora Therapeutics (NASDAQ:NMRA) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.45) EPS for the quarter, missing the consensus estimate of ($0.38) by ($0.07). During the same period in the previous year, the firm posted ($1.14) earnings per share. As a group, equities analysts expect that Neumora Therapeutics will post -1.48 earnings per share for the current fiscal year.

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.