Neumora Therapeutics (NASDAQ:NMRA) Earns Buy Rating from HC Wainwright

Neumora Therapeutics (NASDAQ:NMRAGet Free Report)‘s stock had its “buy” rating reissued by analysts at HC Wainwright in a research report issued to clients and investors on Friday,Benzinga reports. They presently have a $30.00 price objective on the stock.

A number of other analysts have also issued reports on the stock. Royal Bank of Canada lowered shares of Neumora Therapeutics from an “outperform” rating to a “sector perform” rating and dropped their price objective for the company from $29.00 to $4.00 in a research note on Thursday. Needham & Company LLC reaffirmed a “buy” rating and set a $23.00 price target on shares of Neumora Therapeutics in a research note on Thursday. Finally, JPMorgan Chase & Co. cut shares of Neumora Therapeutics from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $18.00 to $15.00 in a research report on Tuesday, November 5th. Two 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, Neumora Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $18.40.

Read Our Latest Research Report on NMRA

Neumora Therapeutics Trading Up 10.2 %

Shares of Neumora Therapeutics stock opened at $2.17 on Friday. Neumora Therapeutics has a twelve month low of $1.83 and a twelve month high of $21.00. The stock has a market cap of $350.59 million, a price-to-earnings ratio of -1.16 and a beta of 3.34. The company has a fifty day moving average price of $10.47 and a 200 day moving average price of $11.48.

Neumora Therapeutics (NASDAQ:NMRAGet Free Report) last posted its earnings results on Tuesday, November 12th. The company reported ($0.45) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.06). During the same quarter last year, the business posted ($1.14) earnings per share. Analysts forecast that Neumora Therapeutics will post -1.61 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Robert A. Lenz sold 5,563 shares of the business’s stock in a transaction that occurred 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 in the company, valued at approximately $4,847,719.66. The trade was a 1.69 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Matthew K. Fust sold 14,049 shares of the firm’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $17.03, for a total value of $239,254.47. Following the transaction, the director now owns 20,100 shares in the company, valued at $342,303. This trade represents a 41.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 26.40% of the stock is owned by company insiders.

Institutional Trading of Neumora Therapeutics

Several institutional investors have recently added to or reduced their stakes in the business. Amalgamated Bank boosted its holdings in shares of Neumora Therapeutics by 472.8% in the 2nd quarter. Amalgamated Bank now owns 2,910 shares of the company’s stock valued at $29,000 after buying an additional 2,402 shares during the period. Quarry LP acquired a new position in Neumora Therapeutics in the second quarter valued at approximately $98,000. SkyOak Wealth LLC bought a new position in shares of Neumora Therapeutics during the second quarter valued at approximately $147,000. Principal Financial Group Inc. acquired a new stake in shares of Neumora Therapeutics during the 2nd quarter worth approximately $166,000. Finally, Intech Investment Management LLC bought a new stake in shares of Neumora Therapeutics in the 3rd quarter worth approximately $175,000. Institutional investors own 47.65% of the company’s stock.

Neumora Therapeutics Company Profile

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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.

Further Reading

Analyst Recommendations for Neumora Therapeutics (NASDAQ:NMRA)

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