Neumora Therapeutics (NASDAQ:NMRA) Trading Up 7.2% - Should You Buy?

Neumora Therapeutics, Inc. (NASDAQ:NMRA - Get Free Report)'s stock price traded up 7.2% on Thursday . The stock traded as high as $11.43 and last traded at $11.40. 447,499 shares changed hands during mid-day trading, a decline of 40% from the average session volume of 748,664 shares. The stock had previously closed at $10.63.

Analysts Set New Price Targets

NMRA has been the subject of several research reports. Needham & Company LLC restated a "buy" rating and set a $23.00 price objective on shares of Neumora Therapeutics in a research note on Wednesday, November 13th. HC Wainwright restated a "buy" rating and set a $30.00 target price on shares of Neumora Therapeutics in a research report on Monday, December 16th. JPMorgan Chase & Co. downgraded Neumora Therapeutics from an "overweight" rating to a "neutral" rating and cut their price target for the stock from $18.00 to $15.00 in a research report on Tuesday, November 5th. Finally, Royal Bank of Canada reissued an "outperform" rating and issued a $29.00 price objective on shares of Neumora Therapeutics in a report on Friday, November 22nd. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $23.40.

Neumora Therapeutics Stock Up 6.7 %

The business's 50-day simple moving average is $11.29 and its two-hundred day simple moving average is $11.56. The firm has a market cap of $1.83 billion, a price-to-earnings ratio of -6.06 and a beta of 3.34.

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 analysts' consensus estimates of ($0.39) by ($0.06). During the same period in the prior year, the business earned ($1.14) earnings per share. On average, analysts expect that Neumora Therapeutics, Inc. will post -1.61 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Matthew K. Fust sold 14,049 shares of the 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 approximately $342,303. This represents a 41.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Robert A. Lenz sold 5,563 shares of the business's stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $15.01, for a total transaction of $83,500.63. Following the completion of the transaction, the insider now owns 322,966 shares of the company's stock, valued at approximately $4,847,719.66. This trade represents a 1.69 % decrease in their position. The disclosure for this sale can be found here. 26.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Neumora Therapeutics

A number of large investors have recently made changes to their positions in the company. Amalgamated Bank lifted its position in shares of Neumora Therapeutics by 472.8% during 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 purchased a new position in shares of Neumora Therapeutics in the 2nd quarter valued at about $98,000. SkyOak Wealth LLC acquired a new stake in Neumora Therapeutics during the second quarter worth approximately $147,000. Principal Financial Group Inc. purchased a new stake in shares of Neumora Therapeutics during the 2nd quarter worth approximately $166,000. Finally, Intech Investment Management LLC purchased a new stake in Neumora Therapeutics in the third quarter valued at $175,000. 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.