Royal Bank of Canada Reaffirms “Outperform” Rating for Neumora Therapeutics (NASDAQ:NMRA)

Royal Bank of Canada reaffirmed their outperform rating on shares of Neumora Therapeutics (NASDAQ:NMRA) in a research report sent to investors on Friday,Benzinga reports. Royal Bank of Canada currently has a $29.00 target price on the stock.

A number of other equities analysts have also weighed in on the company. Needham & Company LLC reiterated a “buy” rating and issued a $23.00 price target on shares of Neumora Therapeutics in a research report on Wednesday, November 13th. HC Wainwright restated a “buy” rating and set a $30.00 price objective on shares of Neumora Therapeutics in a research report on Wednesday, November 13th. Finally, JPMorgan Chase & Co. downgraded Neumora Therapeutics from an “overweight” rating to a “neutral” rating and cut their price target for the stock 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 issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $21.67.

Neumora Therapeutics Price Performance

Shares of NASDAQ NMRA opened at $9.67 on Friday. Neumora Therapeutics has a 1-year low of $8.33 and a 1-year high of $21.00. The business’s fifty day moving average price is $12.87 and its two-hundred day moving average price is $11.46. The firm has a market capitalization of $1.56 billion, a PE ratio of -5.17 and a beta of 3.92.

Neumora Therapeutics (NASDAQ:NMRA) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.45) EPS for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.06). During the same quarter in the prior year, the business earned ($1.14) earnings per share. Equities research analysts expect that Neumora Therapeutics will post -1.61 earnings per share for the current fiscal year.

Insider Transactions at Neumora Therapeutics

In related news, Director Matthew K. Fust sold 14,049 shares of the company’s stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $17.03, for a total value of $239,254.47. Following the completion of the sale, the director now owns 20,100 shares in the company, valued at approximately $342,303. This represents a 41.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Robert A. Lenz sold 30,788 shares of the business’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $11.81, for a total value of $363,606.28. Following the completion of the transaction, the insider now directly owns 339,205 shares of the company’s stock, valued at approximately $4,006,011.05. The trade was a 8.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 50,400 shares of company stock worth $686,361 over the last 90 days. 26.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of NMRA. Price T Rowe Associates Inc. MD bought a new stake in Neumora Therapeutics in the first quarter valued at approximately $10,354,000. Baker BROS. Advisors LP bought a new position in shares of Neumora Therapeutics in the 1st quarter valued at $8,715,000. Kennedy Capital Management LLC bought a new position in shares of Neumora Therapeutics in the 1st quarter valued at $1,881,000. Artal Group S.A. increased its stake in shares of Neumora Therapeutics by 14.5% in the 1st 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, SG Americas Securities LLC bought a new position in shares of Neumora Therapeutics in the 2nd quarter valued at $566,000. 47.65% of the stock is owned by institutional investors and hedge funds.

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.