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

HC Wainwright reaffirmed their buy rating on shares of Neumora Therapeutics (NASDAQ:NMRA) in a research note released on Wednesday,Benzinga reports. HC Wainwright currently has a $30.00 price target on the stock.

A number of other analysts also recently issued reports on the stock. JPMorgan Chase & Co. downgraded shares of Neumora Therapeutics from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $18.00 to $15.00 in a research report on Tuesday, November 5th. Royal Bank of Canada reissued an “outperform” rating and issued a $29.00 price objective on shares of Neumora Therapeutics in a research report on Wednesday, September 4th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $23.00 target price on shares of Neumora Therapeutics in a research note on Wednesday. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $21.67.

Neumora Therapeutics Stock Down 4.7 %

Shares of NASDAQ NMRA opened at $10.78 on Wednesday. The stock has a market capitalization of $1.72 billion, a PE ratio of -5.91 and a beta of 3.92. The firm has a fifty day moving average of $13.08 and a 200-day moving average of $11.41. Neumora Therapeutics has a 52-week low of $8.33 and a 52-week 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 ($0.38) by ($0.07). During the same quarter in the previous year, the firm earned ($1.14) earnings per share. Equities research analysts expect that Neumora Therapeutics will post -1.48 EPS for the current fiscal year.

Insider Activity

In other news, CFO Joshua Pinto sold 31,642 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $11.78, for a total value of $372,742.76. Following the completion of the transaction, the chief financial officer now directly owns 154,658 shares in the company, valued at approximately $1,821,871.24. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Neumora Therapeutics news, CFO Joshua Pinto sold 31,642 shares of Neumora Therapeutics 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 sale, the chief financial officer now directly owns 154,658 shares in the company, valued at $1,821,871.24. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Robert A. Lenz sold 5,563 shares of the stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $15.01, for a total value 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 trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 110,538 shares of company stock worth $1,390,513 over the last 90 days. Company insiders own 26.40% of the company’s stock.

Institutional Trading of Neumora Therapeutics

Several institutional investors have recently added to or reduced their stakes in NMRA. Artal Group S.A. lifted its holdings 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 worth $40,206,000 after purchasing an additional 371,350 shares during the last quarter. Price T Rowe Associates Inc. MD acquired a new stake in Neumora Therapeutics in the first quarter worth $10,354,000. Charles Schwab Investment Management Inc. lifted its stake in Neumora Therapeutics by 139.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 698,255 shares of the company’s stock valued at $9,224,000 after buying an additional 406,891 shares during the last quarter. Callan Capital LLC lifted its position in Neumora Therapeutics by 222.6% in the 2nd quarter. Callan Capital LLC now owns 661,194 shares of the company’s stock valued at $6,500,000 after purchasing an additional 456,207 shares during the last quarter. Finally, Baker BROS. Advisors LP bought a new stake in Neumora Therapeutics in the 1st quarter valued at about $8,715,000. Institutional investors 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.