Neumora Therapeutics’ (NMRA) “Buy” Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Neumora Therapeutics (NASDAQ:NMRA) in a research report released on Friday morning, Benzinga reports. Needham & Company LLC currently has a $23.00 price objective on the stock.

Several other analysts also recently issued reports on NMRA. Mizuho initiated coverage on shares of Neumora Therapeutics in a research report on Monday, July 8th. They issued an “outperform” rating and a $20.00 price objective for the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $29.00 price target on shares of Neumora Therapeutics in a research note on Wednesday, September 4th. Finally, HC Wainwright began coverage on shares of Neumora Therapeutics in a research report on Tuesday, October 1st. They issued a “buy” rating and a $30.00 price objective for the company. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $22.83.

Neumora Therapeutics Stock Down 2.8 %

Neumora Therapeutics stock opened at $16.49 on Friday. The firm has a market cap of $2.63 billion and a PE ratio of -6.44. The company’s 50 day moving average is $12.73 and its two-hundred day moving average is $11.36. Neumora Therapeutics has a 52-week low of $8.33 and a 52-week high of $21.00.

Neumora Therapeutics (NASDAQ:NMRA) last released its quarterly earnings data on Tuesday, August 6th. The company reported ($0.37) EPS for the quarter, meeting the consensus estimate of ($0.37). On average, equities research analysts anticipate that Neumora Therapeutics will post -1.48 earnings per share for the current fiscal year.

Insider Transactions at Neumora Therapeutics

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 transaction, the director now owns 20,100 shares of the company’s stock, valued at approximately $342,303. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, insider Robert A. Lenz sold 5,563 shares of Neumora Therapeutics stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $15.01, for a total value of $83,500.63. Following the completion of the transaction, the insider now directly owns 322,966 shares of the company’s stock, valued at approximately $4,847,719.66. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Matthew K. Fust sold 14,049 shares of the business’s 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 of the company’s stock, valued at approximately $342,303. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 110,538 shares of company stock valued at $1,390,513. Insiders own 26.40% of the company’s stock.

Hedge Funds Weigh In On Neumora Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD acquired a new stake in shares of Neumora Therapeutics during the 1st quarter worth approximately $10,354,000. Callan Capital LLC increased its position in Neumora Therapeutics by 222.6% in the second quarter. Callan Capital LLC now owns 661,194 shares of the company’s stock worth $6,500,000 after buying an additional 456,207 shares during the period. Rhumbline Advisers lifted its stake in Neumora Therapeutics by 488.3% in the second quarter. Rhumbline Advisers now owns 103,258 shares of the company’s stock valued at $1,015,000 after buying an additional 85,706 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Neumora Therapeutics by 79.5% during the second quarter. The Manufacturers Life Insurance Company now owns 111,828 shares of the company’s stock valued at $1,099,000 after acquiring an additional 49,527 shares during the period. Finally, SG Americas Securities LLC bought a new position in shares of Neumora Therapeutics during the second quarter worth about $566,000. 47.65% of the stock is currently owned by institutional investors and hedge funds.

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.