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

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

Several other research analysts have also commented on NMRA. HC Wainwright reaffirmed a "buy" rating and set a $30.00 price target on shares of Neumora Therapeutics in a research report on Monday, December 16th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $29.00 target price on shares of Neumora Therapeutics in a report on Friday, November 22nd. Finally, JPMorgan Chase & Co. cut shares of Neumora Therapeutics from an "overweight" rating to a "neutral" rating and decreased their price target 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 four have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $18.40.

Neumora Therapeutics Trading Down 81.4 %

Shares of NASDAQ NMRA traded down $8.63 during mid-day trading on Thursday, reaching $1.97. The company had a trading volume of 44,511,355 shares, compared to its average volume of 751,982. The firm has a 50 day simple moving average of $10.89 and a two-hundred day simple moving average of $11.59. Neumora Therapeutics has a 52-week low of $1.83 and a 52-week high of $21.00. The stock has a market cap of $318.28 million, a P/E ratio of -1.05 and a beta of 3.34.

Neumora Therapeutics (NASDAQ:NMRA - Get Free Report) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.45) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.39) by ($0.06). During the same period in the prior year, the firm earned ($1.14) earnings per share. On average, equities analysts expect that Neumora Therapeutics will post -1.61 EPS for the current year.

Insider Transactions at Neumora Therapeutics

In other news, insider Robert A. Lenz sold 5,563 shares of the business's stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $15.01, for a total transaction of $83,500.63. Following the transaction, the insider now directly owns 322,966 shares in the company, valued at $4,847,719.66. The trade was a 1.69 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Matthew K. Fust sold 14,049 shares of the 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 transaction, the director now directly owns 20,100 shares of the company's stock, valued at $342,303. This represents a 41.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 26.40% of the company's stock.

Institutional Trading of Neumora Therapeutics

A number of institutional investors have recently modified their holdings of NMRA. Geode Capital Management LLC lifted its holdings in Neumora Therapeutics by 54.0% in the third quarter. Geode Capital Management LLC now owns 1,979,847 shares of the company's stock valued at $26,159,000 after acquiring an additional 694,385 shares during the period. Barclays PLC boosted its holdings in Neumora Therapeutics by 352.9% during the third quarter. Barclays PLC now owns 129,210 shares of the company's stock worth $1,708,000 after buying an additional 100,678 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Neumora Therapeutics by 139.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 698,255 shares of the company's stock worth $9,224,000 after buying an additional 406,891 shares during the period. Point72 Asset Management L.P. purchased a new position in Neumora Therapeutics in the third quarter valued at about $1,097,000. Finally, Callan Capital LLC lifted its position in shares of Neumora Therapeutics by 222.6% during the 2nd quarter. Callan Capital LLC now owns 661,194 shares of the company's stock valued at $6,500,000 after acquiring an additional 456,207 shares during the period. 47.65% of the stock is currently 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.