Neumora Therapeutics, Inc. (NASDAQ:NMRA) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Neumora Therapeutics, Inc. (NASDAQ:NMRA) have been given a consensus rating of “Moderate Buy” by the seven analysts that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $22.83.

Several equities research analysts have issued reports on the company. Needham & Company LLC reaffirmed a “buy” rating and set a $23.00 price target on shares of Neumora Therapeutics in a research note on Friday, October 18th. Mizuho initiated coverage on Neumora Therapeutics in a research report on Monday, July 8th. They issued an “outperform” rating and a $20.00 target price for the company. HC Wainwright assumed coverage on Neumora Therapeutics in a research note on Tuesday, October 1st. They issued a “buy” rating and a $30.00 target price for the company. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $29.00 price target on shares of Neumora Therapeutics in a research note on Wednesday, September 4th.

Neumora Therapeutics Price Performance

Shares of Neumora Therapeutics stock opened at $13.31 on Friday. The company has a 50 day simple moving average of $12.88 and a two-hundred day simple moving average of $11.34. The firm has a market cap of $2.12 billion and a PE ratio of -5.20. Neumora Therapeutics has a 1 year low of $8.33 and a 1 year high of $21.00.

Neumora Therapeutics (NASDAQ:NMRA) last posted its quarterly earnings data on Tuesday, August 6th. The company reported ($0.37) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.37). As a group, research analysts anticipate that Neumora Therapeutics will post -1.48 earnings per share for the current year.

Insider Buying and Selling

In other Neumora Therapeutics 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 value of $239,254.47. Following the transaction, the director now directly owns 20,100 shares of the company’s stock, valued at $342,303. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Joshua Pinto sold 28,496 shares of the company’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $11.63, for a total transaction of $331,408.48. Following the completion of the transaction, the chief financial officer now directly owns 210,469 shares of the company’s stock, valued at approximately $2,447,754.47. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Matthew K. Fust sold 14,049 shares of the stock in a transaction dated 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 represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 110,538 shares of company stock worth $1,390,513 in the last ninety days. 26.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Amalgamated Bank lifted its holdings in Neumora Therapeutics by 472.8% in 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 during the period. Handelsbanken Fonder AB raised its holdings in shares of Neumora Therapeutics by 35.0% during the third quarter. Handelsbanken Fonder AB now owns 26,600 shares of the company’s stock valued at $351,000 after acquiring an additional 6,900 shares in the last quarter. Quarry LP purchased a new stake in Neumora Therapeutics in the second quarter worth $98,000. Ballentine Partners LLC purchased a new stake in Neumora Therapeutics in the third quarter worth $178,000. Finally, SkyOak Wealth LLC bought a new stake in Neumora Therapeutics in the second quarter valued at $147,000. Hedge funds and other 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.