Neumora Therapeutics (NASDAQ:NMRA) Earns “Buy” Rating from Needham & Company LLC

Neumora Therapeutics (NASDAQ:NMRA)‘s stock had its “buy” rating reaffirmed by equities researchers at Needham & Company LLC in a research report issued to clients and investors on Thursday,Benzinga reports. They presently have a $23.00 price objective on the stock.

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

Neumora Therapeutics Price Performance

Shares of Neumora Therapeutics stock opened at $2.17 on Thursday. The firm has a fifty day moving average price of $10.67 and a two-hundred day moving average price of $11.53. Neumora Therapeutics has a fifty-two week low of $1.83 and a fifty-two week high of $21.00. The company has a market cap of $350.59 million, a PE ratio of -1.16 and a beta of 3.34.

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

Insider Transactions at Neumora Therapeutics

In other Neumora Therapeutics news, insider Robert A. Lenz sold 5,563 shares of the company’s stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $15.01, for a total transaction of $83,500.63. Following the transaction, the insider now owns 322,966 shares of the company’s stock, valued at approximately $4,847,719.66. This represents a 1.69 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Matthew K. Fust sold 14,049 shares of the company’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $17.03, for a total value of $239,254.47. Following the transaction, the director now directly owns 20,100 shares in the company, valued at $342,303. This trade represents a 41.14 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 26.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Amalgamated Bank grew its position 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 purchasing an additional 2,402 shares during the period. Quarry LP acquired a new position in shares of Neumora Therapeutics in the second quarter valued at approximately $98,000. SkyOak Wealth LLC bought a new stake in shares of Neumora Therapeutics during the second quarter worth $147,000. Principal Financial Group Inc. acquired a new stake in shares of Neumora Therapeutics during the second quarter worth $166,000. Finally, Intech Investment Management LLC bought a new stake in Neumora Therapeutics in the 3rd quarter valued at $175,000. 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.