Neumora Therapeutics (NASDAQ:NMRA) Shares Gap Up – Time to Buy?

Neumora Therapeutics, Inc. (NASDAQ:NMRA)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $9.67, but opened at $9.90. Neumora Therapeutics shares last traded at $9.90, with a volume of 191 shares changing hands.

Analyst Ratings Changes

Several equities analysts have commented on the company. HC Wainwright reissued a “buy” rating and set a $30.00 price objective on shares of Neumora Therapeutics in a research report on Wednesday, November 13th. JPMorgan Chase & Co. lowered Neumora Therapeutics from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $18.00 to $15.00 in a research report on Tuesday, November 5th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $29.00 price target on shares of Neumora Therapeutics in a research report on Friday, November 22nd. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $23.00 price target on shares of Neumora Therapeutics in a research report on Wednesday, November 13th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Neumora Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $21.67.

Neumora Therapeutics Trading Down 0.1 %

The firm has a fifty day moving average of $12.78 and a 200 day moving average of $11.46. The company has a market capitalization of $1.58 billion, a P/E ratio of -5.22 and a beta of 3.92.

Neumora Therapeutics (NASDAQ:NMRA) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.45) EPS for the quarter, missing the consensus estimate of ($0.39) by ($0.06). During the same period in the prior year, the company posted ($1.14) earnings per share. Sell-side analysts anticipate that Neumora Therapeutics, Inc. will post -1.61 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Robert A. Lenz sold 30,788 shares of Neumora Therapeutics stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $11.81, for a total value of $363,606.28. Following the completion of the sale, the insider now directly owns 339,205 shares in the company, valued at approximately $4,006,011.05. This trade represents a 8.32 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 value 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 50,400 shares of company stock worth $686,361. 26.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Neumora Therapeutics

A number of large investors have recently made changes to their positions in NMRA. Amalgamated Bank grew its stake in shares of Neumora Therapeutics by 472.8% during the 2nd 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 bought a new stake in shares of Neumora Therapeutics during the 2nd quarter valued at about $98,000. SkyOak Wealth LLC bought a new stake in shares of Neumora Therapeutics during the 2nd quarter valued at about $147,000. Principal Financial Group Inc. bought a new stake in shares of Neumora Therapeutics during the 2nd quarter valued at about $166,000. Finally, Intech Investment Management LLC bought a new stake in shares of Neumora Therapeutics during the 3rd quarter valued at about $175,000. 47.65% of the stock is currently 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.