Neumora Therapeutics (NASDAQ:NMRA) Given “Buy” Rating at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Neumora Therapeutics (NASDAQ:NMRA) in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have a $23.00 target price on the stock.

A number of other research analysts also recently issued reports on NMRA. JPMorgan Chase & Co. downgraded Neumora Therapeutics from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $18.00 to $15.00 in a research note on Tuesday, November 5th. HC Wainwright initiated coverage on Neumora Therapeutics in a research report on Tuesday, October 1st. They issued a “buy” rating and a $30.00 target price for the company. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $29.00 target price on shares of Neumora Therapeutics in a research report on Wednesday, September 4th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $21.67.

Neumora Therapeutics Trading Down 4.7 %

Shares of NMRA opened at $10.78 on Wednesday. The company has a market capitalization of $1.72 billion, a PE ratio of -5.76 and a beta of 3.92. Neumora Therapeutics has a 12 month low of $8.33 and a 12 month high of $21.00. The stock’s 50-day moving average price is $13.07 and its two-hundred day moving average price is $11.41.

Neumora Therapeutics (NASDAQ:NMRA) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.45) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.07). During the same quarter in the prior year, the business earned ($1.14) earnings per share. Equities research analysts predict that Neumora Therapeutics will post -1.48 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Matthew K. Fust sold 14,049 shares of the stock in a transaction 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 sale, the director now owns 20,100 shares in the company, valued at approximately $342,303. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CFO Joshua Pinto sold 31,642 shares of the stock in a transaction 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 of the company’s stock, valued at $1,821,871.24. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Matthew K. Fust sold 14,049 shares of the firm’s stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $17.03, for a total value of $239,254.47. Following the transaction, the director now directly owns 20,100 shares in the company, valued at $342,303. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 110,538 shares of company stock worth $1,390,513 over the last 90 days. Corporate insiders own 26.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Amalgamated Bank grew its stake in shares of 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 buying an additional 2,402 shares during the last quarter. Handelsbanken Fonder AB grew its stake in shares of Neumora Therapeutics by 35.0% during the third quarter. Handelsbanken Fonder AB now owns 26,600 shares of the company’s stock valued at $351,000 after buying an additional 6,900 shares during the last quarter. Quarry LP bought a new position in shares of Neumora Therapeutics during the second quarter valued at about $98,000. Intech Investment Management LLC bought a new position in shares of Neumora Therapeutics during the third quarter valued at about $175,000. Finally, Ballentine Partners LLC bought a new position in shares of Neumora Therapeutics during the third quarter valued at about $178,000. 47.65% of the stock is owned by 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.