Neumora Therapeutics (NASDAQ:NMRA) Stock Price Up 7.2% – Here’s Why

Neumora Therapeutics, Inc. (NASDAQ:NMRA) was up 7.2% during mid-day trading on Thursday . The company traded as high as $11.43 and last traded at $11.40. Approximately 447,499 shares traded hands during mid-day trading, a decline of 40% from the average daily volume of 748,664 shares. The stock had previously closed at $10.63.

Analysts Set New Price Targets

Several research firms have recently commented on NMRA. HC Wainwright reiterated a “buy” rating and set a $30.00 price objective on shares of Neumora Therapeutics in a research note on Monday, December 16th. Needham & Company LLC reaffirmed a “buy” rating and set a $23.00 price target on shares of Neumora Therapeutics in a research report on Wednesday, November 13th. JPMorgan Chase & Co. lowered Neumora Therapeutics from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $18.00 to $15.00 in a report on Tuesday, November 5th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $29.00 price objective on shares of Neumora Therapeutics in a research note on Friday, November 22nd. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Neumora Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $23.40.

Neumora Therapeutics Price Performance

The firm’s fifty day simple moving average is $11.07 and its 200 day simple moving average is $11.56. The company has a market capitalization of $1.83 billion, a PE ratio of -6.06 and a beta of 3.34.

Neumora Therapeutics (NASDAQ:NMRA) last issued its earnings results on Tuesday, November 12th. The company reported ($0.45) EPS for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.06). During the same period in the previous year, the firm posted ($1.14) earnings per share. On average, equities research analysts anticipate that Neumora Therapeutics, Inc. will post -1.61 EPS for the current fiscal year.

Insider Transactions at Neumora Therapeutics

In related news, Director Matthew K. Fust sold 14,049 shares of the company’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 completion of the transaction, the director now owns 20,100 shares of the company’s stock, valued at approximately $342,303. This represents a 41.14 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Robert A. Lenz sold 5,563 shares of the firm’s 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 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 1.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 26.40% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. JPMorgan Chase & Co. increased its holdings in Neumora Therapeutics by 2.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 64,421 shares of the company’s stock worth $851,000 after acquiring an additional 1,629 shares in the last quarter. Barclays PLC grew its position in shares of Neumora Therapeutics by 352.9% in the third quarter. Barclays PLC now owns 129,210 shares of the company’s stock valued at $1,708,000 after purchasing an additional 100,678 shares during the period. Geode Capital Management LLC increased its stake in shares of Neumora Therapeutics by 54.0% during the third quarter. Geode Capital Management LLC now owns 1,979,847 shares of the company’s stock worth $26,159,000 after purchasing an additional 694,385 shares in the last quarter. Wexford Capital LP raised its position in shares of Neumora Therapeutics by 90.1% during the 3rd quarter. Wexford Capital LP now owns 217,879 shares of the company’s stock worth $2,878,000 after purchasing an additional 103,285 shares during the last quarter. Finally, State Street Corp raised its position in shares of Neumora Therapeutics by 65.3% during the 3rd quarter. State Street Corp now owns 1,790,707 shares of the company’s stock worth $23,655,000 after purchasing an additional 707,409 shares during the last quarter. 47.65% of the stock is owned by institutional investors and hedge funds.

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.