Neumora Therapeutics' (NMRA) "Outperform" Rating Reiterated at Royal Bank of Canada

Neumora Therapeutics (NASDAQ:NMRA - Get Free Report)'s stock had its "outperform" rating reiterated by research analysts at Royal Bank of Canada in a research report issued on Friday,Benzinga reports. They presently have a $29.00 price objective on the stock. Royal Bank of Canada's price objective would suggest a potential upside of 198.97% from the company's previous close.

Several other analysts have also weighed in on the stock. JPMorgan Chase & Co. lowered shares of Neumora Therapeutics from an "overweight" rating to a "neutral" rating and lowered their target price for the company from $18.00 to $15.00 in a research note on Tuesday, November 5th. HC Wainwright reiterated a "buy" rating and issued a $30.00 target price on shares of Neumora Therapeutics in a research report on Wednesday, November 13th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $23.00 price target on shares of Neumora Therapeutics in a report on Wednesday, November 13th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $21.67.

Neumora Therapeutics Price Performance

NMRA stock traded up $0.01 during midday trading on Friday, reaching $9.70. 152,483 shares of the company's stock traded hands, compared to its average volume of 732,039. The business has a 50-day moving average price of $12.96 and a two-hundred day moving average price of $11.44. Neumora Therapeutics has a fifty-two week low of $8.33 and a fifty-two week high of $21.00. The company has a market capitalization of $1.57 billion, a P/E ratio of -5.22 and a beta of 3.92.

Neumora Therapeutics (NASDAQ:NMRA - Get Free Report) last posted its quarterly earnings results 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 quarter in the previous year, the business earned ($1.14) EPS. As a group, research analysts forecast that Neumora Therapeutics will post -1.58 earnings per share for the current fiscal year.

Insider Buying and Selling at Neumora Therapeutics

In related news, CFO Joshua Pinto sold 31,642 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $11.78, for a total value of $372,742.76. Following the transaction, the chief financial officer now owns 154,658 shares in the company, valued at approximately $1,821,871.24. This represents a 16.98 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Matthew K. Fust sold 14,049 shares of the stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $17.03, for a total value of $239,254.47. Following the completion of the transaction, the director now owns 20,100 shares in the company, valued at $342,303. This represents a 41.14 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 82,042 shares of company stock valued at $1,059,104. 26.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Neumora Therapeutics

A number of hedge funds have recently added to or reduced their stakes in the company. Barclays PLC increased its holdings in Neumora Therapeutics by 352.9% in 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 during the last quarter. Geode Capital Management LLC grew its holdings in Neumora Therapeutics by 54.0% during the third quarter. Geode Capital Management LLC now owns 1,979,847 shares of the company's stock valued at $26,159,000 after purchasing an additional 694,385 shares during the last quarter. Wexford Capital LP grew its holdings in Neumora Therapeutics by 90.1% during the third quarter. Wexford Capital LP now owns 217,879 shares of the company's stock valued at $2,878,000 after purchasing an additional 103,285 shares during the last quarter. State Street Corp grew its holdings in Neumora Therapeutics by 65.3% during the third quarter. State Street Corp now owns 1,790,707 shares of the company's stock valued at $23,655,000 after purchasing an additional 707,409 shares during the last quarter. Finally, Point72 Asset Management L.P. acquired a new position in Neumora Therapeutics during the third quarter valued at approximately $1,097,000. Institutional investors and hedge funds own 47.65% of the company's stock.

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.

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