Neumora Therapeutics (NASDAQ:NMRA) Receives New Coverage from Analysts at HC Wainwright

Analysts at HC Wainwright assumed coverage on shares of Neumora Therapeutics (NASDAQ:NMRA) in a research report issued to clients and investors on Tuesday, Marketbeat reports. The firm set a “buy” rating and a $30.00 price target on the stock. HC Wainwright’s price target indicates a potential upside of 114.75% from the stock’s previous close.

Several other research firms have also commented on NMRA. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $29.00 price target on shares of Neumora Therapeutics in a report on Wednesday, September 4th. Mizuho assumed coverage on shares of Neumora Therapeutics in a report on Monday, July 8th. They issued an “outperform” rating and a $20.00 price target for the company. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $23.00 price target on shares of Neumora Therapeutics in a report on Thursday, September 12th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, Neumora Therapeutics presently has a consensus rating of “Moderate Buy” and an average target price of $22.90.

Neumora Therapeutics Price Performance

Shares of NMRA stock opened at $13.97 on Tuesday. Neumora Therapeutics has a 1-year low of $8.33 and a 1-year high of $21.00. The firm has a fifty day moving average of $11.97 and a two-hundred day moving average of $11.19.

Neumora Therapeutics (NASDAQ:NMRA) last posted its quarterly earnings results on Tuesday, August 6th. The company reported ($0.37) EPS for the quarter, meeting the consensus estimate of ($0.37). On average, research analysts forecast that Neumora Therapeutics will post -1.51 EPS for the current fiscal year.

Insiders Place Their Bets

In other Neumora Therapeutics news, 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 transaction of $363,606.28. Following the sale, the insider now directly owns 339,205 shares in the company, valued at approximately $4,006,011.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Neumora Therapeutics news, 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 transaction of $363,606.28. Following the sale, the insider now directly owns 339,205 shares in the company, valued at approximately $4,006,011.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Joshua Pinto sold 31,642 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $11.78, for a total transaction of $372,742.76. Following the sale, the chief financial officer now owns 154,658 shares in the company, valued at $1,821,871.24. The disclosure for this sale can be found here. In the last three months, insiders have sold 90,926 shares of company stock worth $1,067,758. 26.40% of the stock is owned by corporate insiders.

Institutional Trading of Neumora Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Amalgamated Bank raised its position in shares of Neumora Therapeutics by 472.8% during the 2nd quarter. Amalgamated Bank now owns 2,910 shares of the company’s stock worth $29,000 after buying an additional 2,402 shares in the last quarter. Quarry LP bought a new stake in shares of Neumora Therapeutics in the 2nd quarter worth approximately $98,000. SkyOak Wealth LLC bought a new stake in shares of Neumora Therapeutics in the 2nd quarter worth approximately $147,000. Principal Financial Group Inc. bought a new stake in shares of Neumora Therapeutics in the 2nd quarter worth approximately $166,000. Finally, SG Americas Securities LLC bought a new stake in shares of Neumora Therapeutics in the 2nd quarter worth approximately $566,000. 47.65% of the stock is currently owned by institutional investors.

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.