Neumora Therapeutics’ (NMRA) “Buy” Rating Reaffirmed at HC Wainwright

Neumora Therapeutics (NASDAQ:NMRA)‘s stock had its “buy” rating reiterated by investment analysts at HC Wainwright in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $30.00 price target on the stock. HC Wainwright’s price objective would suggest a potential upside of 175.23% from the company’s current price.

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

Neumora Therapeutics Trading Down 3.6 %

Shares of NASDAQ:NMRA traded down $0.41 during trading on Wednesday, reaching $10.90. 505,579 shares of the company traded hands, compared to its average volume of 721,194. The firm has a market capitalization of $1.74 billion, a price-to-earnings ratio of -5.91 and a beta of 3.92. Neumora Therapeutics has a 52-week low of $8.33 and a 52-week high of $21.00. The business’s fifty day moving average is $13.08 and its 200-day moving average is $11.41.

Neumora Therapeutics (NASDAQ:NMRA) last announced its earnings results on Tuesday, November 12th. The company reported ($0.45) EPS for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.07). During the same quarter in the prior year, the company posted ($1.14) earnings per share. On average, sell-side analysts predict that Neumora Therapeutics will post -1.48 earnings per share for the current fiscal year.

Insider Transactions at Neumora Therapeutics

In other Neumora Therapeutics news, Director Matthew K. Fust sold 14,049 shares of the firm’s stock in a transaction dated Friday, October 18th. The stock was 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 of the company’s stock, valued at approximately $342,303. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Matthew K. Fust sold 14,049 shares of Neumora Therapeutics stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $17.03, for a total transaction of $239,254.47. Following the sale, the director now owns 20,100 shares of the company’s stock, valued at approximately $342,303. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Robert A. Lenz sold 5,563 shares of Neumora Therapeutics stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $15.01, for a total value of $83,500.63. Following the completion of the sale, the insider now directly owns 322,966 shares in the company, valued at approximately $4,847,719.66. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 110,538 shares of company stock valued at $1,390,513. Insiders own 26.40% of the company’s stock.

Hedge Funds Weigh In On Neumora Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Artal Group S.A. boosted 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 period. Price T Rowe Associates Inc. MD purchased a new position in Neumora Therapeutics during the 1st quarter valued at $10,354,000. Charles Schwab Investment Management Inc. boosted its holdings in Neumora Therapeutics by 139.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 698,255 shares of the company’s stock valued at $9,224,000 after acquiring an additional 406,891 shares during the period. Callan Capital LLC boosted its holdings in Neumora Therapeutics by 222.6% during the 2nd quarter. Callan Capital LLC now owns 661,194 shares of the company’s stock valued at $6,500,000 after acquiring an additional 456,207 shares during the period. Finally, Baker BROS. Advisors LP purchased a new position in Neumora Therapeutics during the 1st quarter valued at $8,715,000. Hedge funds and other 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.