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

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

A number of other equities research analysts have also recently commented on the stock. HC Wainwright restated a “buy” rating and issued a $30.00 price target on shares of Neumora Therapeutics in a report on Wednesday, November 13th. JPMorgan Chase & Co. downgraded Neumora Therapeutics from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $18.00 to $15.00 in a research note on Tuesday, November 5th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $23.00 target price on shares of Neumora Therapeutics in a research report on Wednesday, November 13th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Neumora Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $21.67.

Neumora Therapeutics Stock Performance

Shares of Neumora Therapeutics stock opened at $9.74 on Friday. The stock’s 50-day moving average is $12.92 and its 200 day moving average is $11.44. Neumora Therapeutics has a one year low of $8.33 and a one year high of $21.00.

Neumora Therapeutics (NASDAQ:NMRA) last posted its quarterly 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 period in the previous year, the company posted ($1.14) earnings per share. Analysts expect that Neumora Therapeutics will post -1.61 EPS for the current fiscal year.

Insider Buying and Selling at Neumora Therapeutics

In other Neumora Therapeutics news, CFO Joshua Pinto sold 31,642 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $11.78, for a total transaction of $372,742.76. Following the completion of the sale, the chief financial officer now directly owns 154,658 shares of the company’s stock, valued at approximately $1,821,871.24. The trade was a 16.98 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Robert A. Lenz sold 30,788 shares of the firm’s stock in a transaction that occurred on 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 owns 339,205 shares in the company, valued at $4,006,011.05. This represents a 8.32 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 82,042 shares of company stock valued at $1,059,104. Corporate insiders own 26.40% of the company’s stock.

Institutional Investors Weigh In On Neumora Therapeutics

Several institutional investors have recently bought and sold shares of the stock. Amalgamated Bank lifted its stake in Neumora Therapeutics by 472.8% during the 2nd quarter. Amalgamated Bank now owns 2,910 shares of the company’s stock valued at $29,000 after acquiring an additional 2,402 shares in the last quarter. Quarry LP bought a new position in shares of Neumora Therapeutics during the second quarter valued at about $98,000. Intech Investment Management LLC purchased a new position in Neumora Therapeutics during the third quarter worth about $175,000. Ballentine Partners LLC purchased a new position in Neumora Therapeutics during the third quarter worth about $178,000. Finally, SkyOak Wealth LLC bought a new stake in Neumora Therapeutics in the 2nd quarter worth about $147,000. Institutional investors 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.