Neumora Therapeutics (NASDAQ:NMRA) Stock Price Up 7.2%

Neumora Therapeutics, Inc. (NASDAQ:NMRA) rose 7.2% during trading on Monday . The stock traded as high as $11.46 and last traded at $11.21. Approximately 255,746 shares changed hands during mid-day trading, a decline of 57% from the average daily volume of 590,979 shares. The stock had previously closed at $10.46.

Wall Street Analysts Forecast Growth

NMRA has been the topic of several research reports. Needham & Company LLC restated a “buy” rating and issued a $23.00 price target on shares of Neumora Therapeutics in a report on Wednesday, August 7th. Royal Bank of Canada reiterated an “outperform” rating and set a $29.00 price objective on shares of Neumora Therapeutics in a research note on Wednesday, September 4th. Finally, Mizuho started coverage on shares of Neumora Therapeutics in a research note on Monday, July 8th. They set an “outperform” rating and a $20.00 price objective on the stock. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.11.

Neumora Therapeutics Stock Performance

The business’s 50-day moving average price is $11.48 and its two-hundred day moving average price is $11.69.

Neumora Therapeutics (NASDAQ:NMRA) last released its quarterly earnings results on Tuesday, August 6th. The company reported ($0.37) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.37). Research analysts expect that Neumora Therapeutics, Inc. will post -1.51 EPS for the current fiscal year.

Insiders Place Their Bets

In other Neumora Therapeutics news, CFO Joshua Pinto sold 31,642 shares of Neumora Therapeutics stock in a transaction on Monday, August 26th. The shares were sold at an average price of $11.78, for a total value of $372,742.76. Following the completion of the transaction, the chief financial officer now owns 154,658 shares of the company’s stock, valued at $1,821,871.24. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 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 NMRA. Quarry LP acquired a new position in shares of Neumora Therapeutics during the second quarter valued at $98,000. 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. Marshall Wace LLP acquired a new position in shares of Neumora Therapeutics during the second quarter valued at $1,323,000. Callan Capital LLC boosted its holdings in shares of Neumora Therapeutics by 222.6% during the second quarter. Callan Capital LLC now owns 661,194 shares of the company’s stock valued at $6,500,000 after acquiring an additional 456,207 shares during the period. Finally, SkyOak Wealth LLC acquired a new position in shares of Neumora Therapeutics during the second quarter valued at $147,000. Institutional investors and hedge funds own 47.65% of the company’s stock.

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.