Neumora Therapeutics’ (NMRA) Outperform Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reiterated their outperform rating on shares of Neumora Therapeutics (NASDAQ:NMRA) in a research note published on Friday morning,Benzinga reports. Royal Bank of Canada currently has a $29.00 price objective on the stock.

A number of other equities research analysts have also recently commented on NMRA. Needham & Company LLC reiterated a “buy” rating and set a $23.00 target price on shares of Neumora Therapeutics in a research note on Wednesday, November 13th. HC Wainwright reiterated a “buy” rating and set a $30.00 target price on shares of Neumora Therapeutics in a research note on Wednesday, November 13th. Finally, JPMorgan Chase & Co. cut Neumora Therapeutics from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $18.00 to $15.00 in a research note on Tuesday, November 5th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $21.67.

Neumora Therapeutics Trading Up 0.5 %

Shares of NASDAQ:NMRA opened at $9.74 on Friday. The stock’s fifty day simple moving average is $12.92 and its two-hundred day simple moving average is $11.47. Neumora Therapeutics has a 1-year low of $8.33 and a 1-year high of $21.00. The stock has a market cap of $1.57 billion, a PE ratio of -5.21 and a beta of 3.92.

Neumora Therapeutics (NASDAQ:NMRA) last released its earnings results on Tuesday, November 12th. The company reported ($0.45) EPS for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.06). During the same period in the prior year, the company posted ($1.14) earnings per share. On average, sell-side analysts forecast that Neumora Therapeutics will post -1.61 earnings per share for the current fiscal year.

Insider Activity at Neumora Therapeutics

In other Neumora Therapeutics 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 transaction, the director now owns 20,100 shares of the company’s stock, valued at $342,303. The trade was a 41.14 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Robert A. Lenz sold 5,563 shares of Neumora Therapeutics stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $15.01, for a total value of $83,500.63. Following the transaction, the insider now directly owns 322,966 shares of the company’s stock, valued at $4,847,719.66. The trade was a 1.69 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 50,400 shares of company stock worth $686,361. Company insiders own 26.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in NMRA. Amalgamated Bank grew 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 buying an additional 2,402 shares in the last quarter. Quarry LP purchased a new position in shares of Neumora Therapeutics during the second quarter worth about $98,000. SkyOak Wealth LLC purchased a new position in shares of Neumora Therapeutics during the second quarter worth about $147,000. Principal Financial Group Inc. purchased a new position in shares of Neumora Therapeutics during the second quarter worth about $166,000. Finally, Intech Investment Management LLC purchased a new position in shares of Neumora Therapeutics during the third quarter worth about $175,000. Hedge funds and other 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.