Royal Bank of Canada Reiterates “Outperform” Rating for Neumora Therapeutics (NASDAQ:NMRA)

Neumora Therapeutics (NASDAQ:NMRA)‘s stock had its “outperform” rating reissued by analysts at Royal Bank of Canada in a report released on Friday,Benzinga reports. They presently have a $29.00 price objective on the stock. Royal Bank of Canada’s price target would indicate a potential upside of 197.74% from the stock’s current price.

NMRA has been the topic of several other research reports. Needham & Company LLC reiterated a “buy” rating and set a $23.00 price target on shares of Neumora Therapeutics in a report on Wednesday, November 13th. JPMorgan Chase & Co. lowered shares of Neumora Therapeutics from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $18.00 to $15.00 in a research note on Tuesday, November 5th. Finally, HC Wainwright reissued a “buy” rating and set a $30.00 target price on shares of Neumora Therapeutics in a research report on Wednesday, November 13th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $21.67.

Neumora Therapeutics Trading Up 0.5 %

NMRA stock opened at $9.74 on Friday. The firm has a market cap of $1.57 billion, a PE ratio of -5.21 and a beta of 3.92. Neumora Therapeutics has a 1 year low of $8.33 and a 1 year high of $21.00. The company has a fifty day simple moving average of $12.92 and a 200 day simple moving average of $11.45.

Neumora Therapeutics (NASDAQ:NMRA) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.45) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.06). During the same period in the prior year, the business earned ($1.14) earnings per share. As a group, analysts forecast that Neumora Therapeutics will post -1.61 EPS for the current fiscal year.

Insiders Place Their Bets

In other Neumora Therapeutics news, CFO Joshua Pinto sold 31,642 shares of Neumora Therapeutics stock in a transaction on Monday, August 26th. The shares were 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 trade was a 16.98 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Robert A. Lenz sold 30,788 shares of the business’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $11.81, for a total transaction of $363,606.28. Following the completion of the sale, the insider now directly owns 339,205 shares in the company, valued at $4,006,011.05. This trade represents a 8.32 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 82,042 shares of company stock worth $1,059,104 in the last ninety days. Insiders own 26.40% of the company’s stock.

Institutional Trading of Neumora Therapeutics

Several institutional investors have recently made changes to their positions in NMRA. Price T Rowe Associates Inc. MD bought a new position in Neumora Therapeutics during the first quarter worth about $10,354,000. Callan Capital LLC raised its holdings in shares of Neumora Therapeutics by 222.6% in the 2nd quarter. Callan Capital LLC now owns 661,194 shares of the company’s stock worth $6,500,000 after buying an additional 456,207 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Neumora Therapeutics by 79.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 111,828 shares of the company’s stock worth $1,099,000 after buying an additional 49,527 shares during the period. Rhumbline Advisers boosted its stake in Neumora Therapeutics by 488.3% in the 2nd quarter. Rhumbline Advisers now owns 103,258 shares of the company’s stock valued at $1,015,000 after buying an additional 85,706 shares in the last quarter. Finally, Auour Investments LLC bought a new stake in Neumora Therapeutics in the third quarter valued at $3,302,000. 47.65% of the stock is currently owned by institutional investors and hedge funds.

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.