Neumora Therapeutics’ (NMRA) “Outperform” Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada restated their outperform rating on shares of Neumora Therapeutics (NASDAQ:NMRA) in a report issued on Wednesday morning, Benzinga reports. The firm currently has a $29.00 price objective on the stock.

Several other research firms have also recently commented on NMRA. Needham & Company LLC restated a buy rating and issued a $23.00 target price on shares of Neumora Therapeutics in a research report on Wednesday, August 7th. Mizuho started coverage on Neumora Therapeutics in a research report on Monday, July 8th. They set an outperform rating and a $20.00 price objective for the company. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Neumora Therapeutics currently has an average rating of Moderate Buy and an average price target of $22.11.

Neumora Therapeutics Stock Performance

NASDAQ:NMRA opened at $10.46 on Wednesday. The business has a 50 day simple moving average of $11.42 and a 200 day simple moving average of $11.88. Neumora Therapeutics has a 12-month low of $8.33 and a 12-month high of $21.00.

Neumora Therapeutics (NASDAQ:NMRA) last announced its quarterly earnings results on Tuesday, August 6th. The company reported ($0.37) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.37). On average, equities research analysts predict that Neumora Therapeutics will post -1.51 EPS for the current year.

Insider Transactions at Neumora Therapeutics

In related news, CFO Joshua Pinto sold 31,642 shares of Neumora Therapeutics stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $11.78, for a total transaction of $372,742.76. Following the transaction, the chief financial officer now directly 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 available through this hyperlink. Company insiders own 26.40% of the company’s stock.

Institutional Trading of Neumora Therapeutics

A number of large investors have recently added to or reduced their stakes in NMRA. Price T Rowe Associates Inc. MD bought a new position in shares of Neumora Therapeutics in the first quarter valued at $10,354,000. Baker BROS. Advisors LP acquired a new stake in shares of Neumora Therapeutics during the first quarter worth $8,715,000. Callan Capital LLC raised its position 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 worth $6,500,000 after purchasing an additional 456,207 shares during the period. Artal Group S.A. lifted its holdings in shares of Neumora Therapeutics by 14.5% during the first quarter. Artal Group S.A. now owns 2,924,052 shares of the company’s stock valued at $40,206,000 after purchasing an additional 371,350 shares during the last quarter. Finally, Addis & Hill Inc acquired a new position in shares of Neumora Therapeutics in the 1st quarter valued at $4,187,000. 47.65% of the stock is currently owned by institutional investors.

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.