Neumora Therapeutics' (NMRA) "Buy" Rating Reiterated at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Neumora Therapeutics (NASDAQ:NMRA - Free Report) in a research note published on Friday, Benzinga reports. Needham & Company LLC currently has a $23.00 price objective on the stock.

A number of other research firms have also recently issued reports on NMRA. Royal Bank of Canada restated an "outperform" rating and set a $29.00 price objective on shares of Neumora Therapeutics in a research report on Wednesday, September 4th. Mizuho started coverage on shares of Neumora Therapeutics in a report on Monday, July 8th. They issued an "outperform" rating and a $20.00 price target on the stock. Finally, HC Wainwright started coverage on shares of Neumora Therapeutics in a report on Tuesday, October 1st. They set a "buy" rating and a $30.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $22.83.

Neumora Therapeutics Stock Down 2.8 %

Neumora Therapeutics stock traded down $0.47 during mid-day trading on Friday, reaching $16.49. The company had a trading volume of 1,916,200 shares, compared to its average volume of 676,344. The firm has a market cap of $2.63 billion and a price-to-earnings ratio of -6.44. The company has a 50 day moving average of $12.73 and a 200-day moving average of $11.36. Neumora Therapeutics has a 52 week low of $8.33 and a 52 week high of $21.00.

Neumora Therapeutics (NASDAQ:NMRA - Get Free Report) last released its earnings results on Tuesday, August 6th. The company reported ($0.37) earnings per share for the quarter, meeting the consensus estimate of ($0.37). On average, analysts predict that Neumora Therapeutics will post -1.48 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Neumora Therapeutics news, CFO Joshua Pinto sold 28,496 shares of the business's stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $11.63, for a total value of $331,408.48. Following the transaction, the chief financial officer now directly owns 210,469 shares in the company, valued at $2,447,754.47. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Neumora Therapeutics news, CFO Joshua Pinto sold 28,496 shares of the business's stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $11.63, for a total value of $331,408.48. Following the transaction, the chief financial officer now owns 210,469 shares of the company's stock, valued at approximately $2,447,754.47. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 value of $83,500.63. Following the sale, the insider now owns 322,966 shares in the company, valued at $4,847,719.66. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 110,538 shares of company stock worth $1,390,513 in the last quarter. 26.40% of the stock is owned by corporate insiders.

Institutional Trading of Neumora Therapeutics

Several hedge funds have recently modified their holdings of the stock. Amalgamated Bank raised its position 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 purchasing an additional 2,402 shares during the last quarter. Quarry LP bought a new stake in shares of Neumora Therapeutics during the second quarter worth $98,000. SkyOak Wealth LLC bought a new stake in shares of Neumora Therapeutics during the second quarter worth $147,000. Principal Financial Group Inc. acquired a new position in shares of Neumora Therapeutics during the second quarter valued at $166,000. Finally, Clarius Group LLC bought a new position in Neumora Therapeutics in the third quarter valued at about $224,000. 47.65% of the stock is owned by institutional investors.

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.