Neumora Therapeutics (NASDAQ:NMRA) Stock Rating Reaffirmed by Royal Bank of Canada

Royal Bank of Canada reiterated their outperform rating on shares of Neumora Therapeutics (NASDAQ:NMRA) in a research note published on Wednesday morning, Benzinga reports. The brokerage currently has a $29.00 price target on the stock.

NMRA has been the topic of several other research reports. Mizuho began coverage on Neumora Therapeutics in a research report on Monday, July 8th. They set an outperform rating and a $20.00 price objective on the stock. 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, August 7th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of $22.11.

Neumora Therapeutics Trading Down 3.1 %

Shares of NMRA opened at $10.46 on Wednesday. Neumora Therapeutics has a 52 week low of $8.33 and a 52 week high of $21.00. The firm’s 50-day simple moving average is $11.42 and its 200 day simple moving average is $11.84.

Neumora Therapeutics (NASDAQ:NMRA) last posted its earnings results on Tuesday, August 6th. The company reported ($0.37) EPS for the quarter, meeting the consensus estimate of ($0.37). On average, equities analysts forecast that Neumora Therapeutics will post -1.51 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Neumora Therapeutics news, CFO Joshua Pinto sold 31,642 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $11.78, for a total value of $372,742.76. Following the transaction, the chief financial officer now directly owns 154,658 shares of the company’s stock, valued at approximately $1,821,871.24. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 26.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Neumora Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the business. Amalgamated Bank bought a new stake in shares of Neumora Therapeutics during the 4th quarter worth $29,000. New York State Common Retirement Fund bought a new position in shares of Neumora Therapeutics in the fourth quarter worth about $118,000. Quarry LP acquired a new stake in shares of Neumora Therapeutics in the 2nd quarter valued at approximately $98,000. SkyOak Wealth LLC bought a new stake in shares of Neumora Therapeutics during the 2nd quarter valued at approximately $147,000. Finally, Principal Financial Group Inc. acquired a new position in Neumora Therapeutics during the 2nd quarter worth approximately $166,000. 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.