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

Neumora Therapeutics (NASDAQ:NMRA)‘s stock had its “buy” rating reissued by stock analysts at Needham & Company LLC in a research note issued to investors on Thursday,Benzinga reports. They currently have a $23.00 price target on the stock.

NMRA has been the subject of several other reports. HC Wainwright reissued a “buy” rating and set a $30.00 price target on shares of Neumora Therapeutics in a report on Monday, December 16th. Royal Bank of Canada reiterated an “outperform” rating and issued a $29.00 price objective on shares of Neumora Therapeutics in a research note on Friday, November 22nd. Finally, JPMorgan Chase & Co. lowered shares of Neumora Therapeutics from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $18.00 to $15.00 in a research report on Tuesday, November 5th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $18.40.

Neumora Therapeutics Trading Up 10.2 %

Shares of NASDAQ NMRA opened at $2.17 on Thursday. Neumora Therapeutics has a 12 month low of $1.83 and a 12 month high of $21.00. The stock has a 50 day moving average of $10.67 and a 200-day moving average of $11.53. The company has a market capitalization of $350.59 million, a P/E ratio of -1.16 and a beta of 3.34.

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 business posted ($1.14) EPS. Analysts predict that Neumora Therapeutics will post -1.61 EPS for the current fiscal year.

Insider Transactions at Neumora Therapeutics

In other news, Director Matthew K. Fust sold 14,049 shares of the company’s stock in a transaction that occurred 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 of the company’s stock, valued at $342,303. This represents a 41.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Robert A. Lenz sold 5,563 shares of the firm’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $15.01, for a total transaction of $83,500.63. Following the completion of the transaction, the insider now directly owns 322,966 shares in the company, valued at $4,847,719.66. This trade represents a 1.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 26.40% of the company’s stock.

Hedge Funds Weigh In On Neumora Therapeutics

A number of hedge funds have recently bought and sold shares of the company. Geode Capital Management LLC boosted its stake in shares of Neumora Therapeutics by 54.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,979,847 shares of the company’s stock worth $26,159,000 after buying an additional 694,385 shares during the last quarter. State Street Corp increased its position in shares of Neumora Therapeutics by 65.3% during the 3rd quarter. State Street Corp now owns 1,790,707 shares of the company’s stock valued at $23,655,000 after purchasing an additional 707,409 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Neumora Therapeutics by 139.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 698,255 shares of the company’s stock worth $9,224,000 after purchasing an additional 406,891 shares during the period. Callan Capital LLC boosted its holdings in shares of Neumora Therapeutics by 222.6% in the 2nd quarter. Callan Capital LLC now owns 661,194 shares of the company’s stock worth $6,500,000 after buying an additional 456,207 shares during the last quarter. Finally, Auour Investments LLC bought a new position in Neumora Therapeutics during the third quarter valued at about $3,302,000. 47.65% of the stock is owned by hedge funds and other 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.