Neumora Therapeutics (NASDAQ:NMRA) Coverage Initiated at Needham & Company LLC

Needham & Company LLC began coverage on shares of Neumora Therapeutics (NASDAQ:NMRA) in a report released on Monday morning, Marketbeat reports. The firm issued a buy rating and a $23.00 target price on the stock.

Several other equities research analysts have also issued reports on NMRA. William Blair reiterated an outperform rating on shares of Neumora Therapeutics in a report on Friday, April 12th. Mizuho began coverage on Neumora Therapeutics in a report on Monday, July 8th. They issued an outperform rating and a $20.00 target price for the company. Finally, Royal Bank of Canada restated an outperform rating and issued a $31.00 target price on shares of Neumora Therapeutics in a report on Thursday, March 28th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Neumora Therapeutics presently has a consensus rating of Moderate Buy and an average target price of $22.33.

Neumora Therapeutics Trading Up 4.2 %

Shares of Neumora Therapeutics stock opened at $12.41 on Monday. Neumora Therapeutics has a 52-week low of $8.33 and a 52-week high of $21.00. The stock has a 50-day simple moving average of $10.11 and a 200-day simple moving average of $12.84.

Neumora Therapeutics (NASDAQ:NMRA) last announced its quarterly earnings results on Tuesday, May 7th. The company reported ($0.34) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.34). Equities research analysts expect that Neumora Therapeutics will post -1.46 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Avidity Partners Management LP increased its position in Neumora Therapeutics by 10.6% in the 4th quarter. Avidity Partners Management LP now owns 1,990,632 shares of the company’s stock worth $33,940,000 after buying an additional 190,632 shares during the period. Citigroup Inc. bought a new position in Neumora Therapeutics in the 3rd quarter worth approximately $203,000. New York State Common Retirement Fund bought a new position in Neumora Therapeutics in the 4th quarter worth approximately $118,000. Amalgamated Bank bought a new position in Neumora Therapeutics in the 4th quarter worth approximately $29,000. Finally, Tower Research Capital LLC TRC bought a new position in Neumora Therapeutics in the 4th quarter worth approximately $44,000. 47.65% of the stock is owned by institutional investors.

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.