HC Wainwright Reiterates Buy Rating for Neumora Therapeutics (NASDAQ:NMRA)

Neumora Therapeutics (NASDAQ:NMRA)‘s stock had its “buy” rating reaffirmed by equities research analysts at HC Wainwright in a research note issued to investors on Friday,Benzinga reports. They currently have a $30.00 target price on the stock.

A number of other brokerages have also commented on NMRA. Needham & Company LLC reissued a “buy” rating and set a $23.00 price target on shares of Neumora Therapeutics in a report on Thursday. Royal Bank of Canada cut shares of Neumora Therapeutics from an “outperform” rating to a “sector perform” rating and lowered their target price for the company from $29.00 to $4.00 in a research note on Thursday. Finally, JPMorgan Chase & Co. lowered shares of Neumora Therapeutics from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $18.00 to $15.00 in a research note on Tuesday, November 5th. Two equities research analysts have rated the stock with a hold rating and four 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 $18.40.

Neumora Therapeutics Trading Up 10.2 %

NASDAQ NMRA opened at $2.17 on Friday. The company has a 50-day moving average price of $10.47 and a two-hundred day moving average price of $11.48. Neumora Therapeutics has a 52 week low of $1.83 and a 52 week high of $21.00. The stock has a market cap of $350.59 million, a price-to-earnings ratio of -1.16 and a beta of 3.34.

Neumora Therapeutics (NASDAQ:NMRA) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.45) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.39) by ($0.06). During the same period last year, the business posted ($1.14) earnings per share. As a group, equities research analysts expect that Neumora Therapeutics will post -1.61 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Robert A. Lenz sold 5,563 shares of the stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $15.01, for a total transaction of $83,500.63. Following the completion of the sale, the insider now owns 322,966 shares in the company, valued at approximately $4,847,719.66. This represents a 1.69 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Matthew K. Fust sold 14,049 shares of Neumora Therapeutics stock in a transaction 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 completion of the transaction, the director now owns 20,100 shares in the company, valued at $342,303. The trade was a 41.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 26.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Neumora Therapeutics

Hedge funds have recently modified their holdings of the stock. State Street Corp increased its stake in Neumora Therapeutics by 65.3% in 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 in the last quarter. Geode Capital Management LLC increased its position in shares of Neumora Therapeutics by 54.0% in the third quarter. Geode Capital Management LLC now owns 1,979,847 shares of the company’s stock worth $26,159,000 after acquiring an additional 694,385 shares in the last quarter. Callan Capital LLC raised its holdings in shares of Neumora Therapeutics by 222.6% during the second 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. Charles Schwab Investment Management Inc. lifted its position in shares of Neumora Therapeutics by 139.7% in 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 in the last quarter. Finally, Auour Investments LLC acquired a new position in Neumora Therapeutics in the 3rd quarter worth approximately $3,302,000. 47.65% of the stock is owned by hedge funds and other 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.