Neumora Therapeutics (NASDAQ:NMRA) Rating Reiterated by Needham & Company LLC

Neumora Therapeutics (NASDAQ:NMRA)‘s stock had its “buy” rating restated by equities researchers at Needham & Company LLC in a report issued on Friday, Benzinga reports. They currently have a $23.00 price objective on the stock. Needham & Company LLC’s price objective indicates a potential upside of 35.61% from the stock’s previous close.

Several other equities analysts have also commented on the stock. HC Wainwright assumed coverage on shares of Neumora Therapeutics in a report on Tuesday, October 1st. They issued a “buy” rating and a $30.00 price objective on the stock. Mizuho assumed coverage on shares of Neumora Therapeutics in a report on Monday, July 8th. They issued an “outperform” rating and a $20.00 price objective on the stock. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $29.00 price objective on shares of Neumora Therapeutics in a report on Wednesday, September 4th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $22.83.

Neumora Therapeutics Price Performance

Neumora Therapeutics stock opened at $16.96 on Friday. The firm has a 50 day simple moving average of $12.62 and a 200-day simple moving average of $11.34. Neumora Therapeutics has a 1-year low of $8.33 and a 1-year high of $21.00. The stock has a market cap of $2.71 billion and a price-to-earnings ratio of -6.63.

Neumora Therapeutics (NASDAQ:NMRA) last issued its quarterly earnings data on Tuesday, August 6th. The company reported ($0.37) EPS for the quarter, hitting the consensus estimate of ($0.37). Equities analysts expect that Neumora Therapeutics will post -1.48 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Neumora Therapeutics news, insider Robert A. Lenz sold 5,563 shares of the stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $15.01, for a total transaction of $83,500.63. Following the sale, the insider now directly owns 322,966 shares in the company, valued at $4,847,719.66. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Robert A. Lenz sold 5,563 shares of the firm’s stock in a transaction 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 sale, the insider now directly owns 322,966 shares in the company, valued at approximately $4,847,719.66. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Robert A. Lenz sold 30,788 shares of the firm’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 owns 339,205 shares in the company, valued at $4,006,011.05. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 96,489 shares of company stock worth $1,151,258 in the last ninety days. 26.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD purchased a new position in shares of Neumora Therapeutics in the 1st quarter valued at $10,354,000. Callan Capital LLC grew its position 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 valued at $6,500,000 after buying an additional 456,207 shares during the last quarter. Rhumbline Advisers grew its position in shares of 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 during the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Neumora Therapeutics by 79.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 111,828 shares of the company’s stock valued at $1,099,000 after buying an additional 49,527 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new position in Neumora Therapeutics during the 2nd quarter worth $566,000. 47.65% of the stock is owned by hedge funds and other institutional investors.

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.