Neumora Therapeutics (NASDAQ:NMRA) Sees Unusually-High Trading Volume

Neumora Therapeutics, Inc. (NASDAQ:NMRA) shares saw unusually-high trading volume on Thursday . Approximately 554,521 shares were traded during mid-day trading, a decline of 10% from the previous session’s volume of 617,091 shares.The stock last traded at $12.72 and had previously closed at $12.86.

Wall Street Analysts Forecast Growth

NMRA has been the topic of a number of research analyst reports. Needham & Company LLC initiated coverage on Neumora Therapeutics in a research note on Monday, July 22nd. They issued a “buy” rating and a $23.00 price target on the stock. Mizuho initiated coverage on Neumora Therapeutics in a research note on Monday, July 8th. They issued an “outperform” rating and a $20.00 price target on the stock. Finally, William Blair reaffirmed an “outperform” rating on shares of Neumora Therapeutics in a research note on Friday, April 12th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $22.33.

Neumora Therapeutics Stock Performance

The stock has a 50 day simple moving average of $10.49 and a two-hundred day simple moving average of $12.73.

Neumora Therapeutics (NASDAQ:NMRA) last released its quarterly earnings data on Tuesday, May 7th. The company reported ($0.34) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.34). Equities analysts forecast that Neumora Therapeutics, Inc. will post -1.46 EPS for the current fiscal year.

Hedge Funds Weigh In On Neumora Therapeutics

Several large investors have recently modified their holdings of the business. Artal Group S.A. lifted 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. Avidity Partners Management LP lifted its stake in shares of Neumora Therapeutics by 10.6% in the 4th quarter. Avidity Partners Management LP now owns 1,990,632 shares of the company’s stock valued at $33,940,000 after purchasing an additional 190,632 shares during the last quarter. Price T Rowe Associates Inc. MD acquired a new position in shares of Neumora Therapeutics in the 1st quarter valued at $10,354,000. Baker BROS. Advisors LP purchased a new stake in shares of Neumora Therapeutics in the 1st quarter valued at $8,715,000. Finally, Addis & Hill Inc purchased a new stake in shares of Neumora Therapeutics in the 1st quarter valued at $4,187,000. Institutional investors and hedge funds own 47.65% of the company’s stock.

About Neumora Therapeutics

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.