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

HC Wainwright reaffirmed their buy rating on shares of Neumora Therapeutics (NASDAQ:NMRA) in a research report report published on Monday,Benzinga reports. The firm currently has a $30.00 target price on the stock.

Several other equities research analysts have also recently weighed in on NMRA. Needham & Company LLC restated a “buy” rating and issued a $23.00 price target on shares of Neumora Therapeutics in a research report on Wednesday, November 13th. JPMorgan Chase & Co. cut shares of Neumora Therapeutics from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $18.00 to $15.00 in a research note on Tuesday, November 5th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $29.00 target price on shares of Neumora Therapeutics in a research report on Friday, November 22nd. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $23.40.

Neumora Therapeutics Stock Up 5.3 %

Shares of NMRA stock opened at $10.87 on Monday. The company’s fifty day simple moving average is $11.96 and its two-hundred day simple moving average is $11.53. Neumora Therapeutics has a 52 week low of $8.33 and a 52 week high of $21.00. The stock has a market cap of $1.76 billion, a P/E ratio of -5.81 and a beta of 3.34.

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 the consensus estimate of ($0.39) by ($0.06). During the same quarter last year, the firm posted ($1.14) earnings per share. On average, analysts anticipate that Neumora Therapeutics will post -1.61 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Robert A. Lenz sold 5,563 shares of the firm’s 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 owns 322,966 shares of the company’s stock, valued at $4,847,719.66. This trade represents a 1.69 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Matthew K. Fust sold 14,049 shares of Neumora Therapeutics stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $17.03, for a total transaction of $239,254.47. Following the sale, 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 disclosure for this sale can be found here. 26.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Neumora Therapeutics

Institutional investors have recently modified their holdings of the stock. State Street Corp grew its stake in Neumora Therapeutics by 65.3% in the third quarter. State Street Corp now owns 1,790,707 shares of the company’s stock worth $23,655,000 after purchasing an additional 707,409 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Neumora Therapeutics by 54.0% during the 3rd 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. Callan Capital LLC increased its stake in shares of Neumora Therapeutics by 222.6% during the second quarter. Callan Capital LLC now owns 661,194 shares of the company’s stock valued at $6,500,000 after buying an additional 456,207 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Neumora Therapeutics by 139.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 698,255 shares of the company’s stock valued at $9,224,000 after acquiring an additional 406,891 shares in the last quarter. Finally, Auour Investments LLC purchased a new stake in Neumora Therapeutics in the third quarter worth about $3,302,000. 47.65% of the stock is owned by hedge funds and other 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.