Neumora Therapeutics (NASDAQ:NMRA) Shares Gap Up – Should You Buy?

Neumora Therapeutics, Inc. (NASDAQ:NMRA) gapped up before the market opened on Wednesday . The stock had previously closed at $10.39, but opened at $10.84. Neumora Therapeutics shares last traded at $10.59, with a volume of 47,796 shares changing hands.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on NMRA. Needham & Company LLC restated a “buy” rating and set a $23.00 price target on shares of Neumora Therapeutics in a report on Wednesday, November 13th. Royal Bank of Canada reiterated an “outperform” rating and set a $29.00 price objective on shares of Neumora Therapeutics in a research report on Friday, November 22nd. HC Wainwright reiterated a “buy” rating and set a $30.00 price target on shares of Neumora Therapeutics in a report on Wednesday, November 13th. Finally, 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. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Neumora Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $21.67.

Neumora Therapeutics Trading Down 1.3 %

The business has a 50-day moving average of $12.25 and a 200 day moving average of $11.50. The firm has a market capitalization of $1.66 billion, a P/E ratio of -5.56 and a beta of 3.37.

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 quarter in the previous year, the company posted ($1.14) earnings per share. As a group, research analysts forecast that Neumora Therapeutics, Inc. will post -1.61 EPS for the current year.

Insider Buying and Selling at Neumora Therapeutics

In related news, insider Robert A. Lenz sold 5,563 shares of the stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $15.01, for a total value of $83,500.63. Following the completion of the sale, the insider now directly owns 322,966 shares of the company’s stock, valued at approximately $4,847,719.66. This represents a 1.69 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Matthew K. Fust sold 14,049 shares of Neumora Therapeutics stock in a transaction on Friday, October 18th. The stock was sold at an average price of $17.03, for a total transaction of $239,254.47. Following the transaction, the director now directly owns 20,100 shares in the company, valued at $342,303. This represents a 41.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 50,400 shares of company stock valued at $686,361. Corporate insiders own 26.40% of the company’s stock.

Institutional Investors Weigh In On Neumora Therapeutics

A number of institutional investors have recently added to or reduced their stakes in NMRA. Amalgamated Bank grew its holdings in 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 purchasing an additional 2,402 shares during the period. Handelsbanken Fonder AB grew its stake in shares of Neumora Therapeutics by 35.0% during the 3rd quarter. Handelsbanken Fonder AB now owns 26,600 shares of the company’s stock worth $351,000 after acquiring an additional 6,900 shares during the period. Quarry LP purchased a new stake in Neumora Therapeutics in the 2nd quarter worth about $98,000. Intech Investment Management LLC purchased a new stake in Neumora Therapeutics in the 3rd quarter worth about $175,000. Finally, Ballentine Partners LLC bought a new stake in Neumora Therapeutics in the 3rd 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.