Neumora Therapeutics (NASDAQ:NMRA) Earns "Buy" Rating from HC Wainwright

Neumora Therapeutics (NASDAQ:NMRA - Get Free Report)'s stock had its "buy" rating restated by research analysts at HC Wainwright in a report released on Friday,Benzinga reports. They presently have a $30.00 target price on the stock.

NMRA has been the topic of several other reports. JPMorgan Chase & Co. cut shares of Neumora Therapeutics from an "overweight" rating to a "neutral" rating and decreased their price objective for the stock from $18.00 to $15.00 in a research report on Tuesday, November 5th. Needham & Company LLC restated a "buy" rating and set a $23.00 price objective on shares of Neumora Therapeutics in a research report on Thursday. Finally, Royal Bank of Canada lowered shares of Neumora Therapeutics from an "outperform" rating to a "sector perform" rating and cut their target price for the stock from $29.00 to $4.00 in a research report on Thursday. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $18.40.

Neumora Therapeutics Stock Performance

Neumora Therapeutics stock traded up $0.20 during midday trading on Friday, reaching $2.17. 22,678,074 shares of the stock were exchanged, compared to its average volume of 33,778,289. Neumora Therapeutics has a 52 week low of $1.83 and a 52 week high of $21.00. The firm has a market cap of $350.59 million, a PE ratio of -1.16 and a beta of 3.34. The company's fifty day moving average is $10.67 and its 200-day moving average is $11.53.

Neumora Therapeutics (NASDAQ:NMRA - Get Free Report) 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 period in the previous year, the company earned ($1.14) EPS. On average, sell-side analysts anticipate that Neumora Therapeutics will post -1.61 earnings per share for the current fiscal year.

Insider Transactions at Neumora Therapeutics

In related news, insider Robert A. Lenz sold 5,563 shares of the firm's 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 completion of the sale, 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 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 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 directly owns 20,100 shares in the company, valued at $342,303. The trade was a 41.14 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 26.40% of the company's stock.

Institutional Investors Weigh In On Neumora Therapeutics

Several institutional investors have recently modified their holdings of the business. Amalgamated Bank lifted its position in Neumora Therapeutics by 472.8% during the second quarter. Amalgamated Bank now owns 2,910 shares of the company's stock valued at $29,000 after purchasing an additional 2,402 shares during the period. Quarry LP purchased a new position in shares of Neumora Therapeutics in the 2nd quarter worth $98,000. Intech Investment Management LLC bought a new stake in shares of Neumora Therapeutics in the third quarter worth $175,000. Ballentine Partners LLC bought a new position in Neumora Therapeutics in the third quarter valued at about $178,000. Finally, SkyOak Wealth LLC purchased a new position in Neumora Therapeutics in the second quarter worth about $147,000. 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.