Neumora Therapeutics’ (NMRA) Buy Rating Reaffirmed at Needham & Company LLC

Neumora Therapeutics (NASDAQ:NMRA)‘s stock had its “buy” rating restated by investment analysts at Needham & Company LLC in a report released on Wednesday,Benzinga reports. They currently have a $23.00 price objective on the stock. Needham & Company LLC’s price objective would indicate a potential upside of 103.36% from the stock’s previous close.

A number of other research firms also recently weighed in on NMRA. JPMorgan Chase & Co. downgraded Neumora Therapeutics from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $18.00 to $15.00 in a research note on Tuesday, November 5th. Royal Bank of Canada reiterated an “outperform” rating and set a $29.00 target price on shares of Neumora Therapeutics in a research note on Wednesday, September 4th. Finally, HC Wainwright started coverage on Neumora Therapeutics in a research note on Tuesday, October 1st. They set a “buy” rating and a $30.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $21.67.

Neumora Therapeutics Stock Down 17.1 %

NMRA stock opened at $11.31 on Wednesday. The business has a 50 day moving average price of $13.08 and a two-hundred day moving average price of $11.41. The company has a market cap of $1.81 billion, a price-to-earnings ratio of -4.42 and a beta of 3.92. Neumora Therapeutics has a twelve month low of $8.33 and a twelve month high of $21.00.

Insider Buying and Selling at Neumora Therapeutics

In other Neumora Therapeutics news, CFO Joshua Pinto sold 31,642 shares of Neumora Therapeutics stock in a transaction on Monday, August 26th. The stock was sold at an average price of $11.78, for a total value of $372,742.76. Following the completion of the transaction, the chief financial officer now directly owns 154,658 shares of the company’s stock, valued at $1,821,871.24. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Matthew K. Fust sold 14,049 shares of the business’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $17.03, for a total transaction 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. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Joshua Pinto sold 31,642 shares of the business’s stock in a transaction on Monday, August 26th. The stock was 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 $1,821,871.24. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 110,538 shares of company stock valued at $1,390,513 in the last three months. Corporate insiders own 26.40% of the company’s stock.

Hedge Funds Weigh In On Neumora Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Artal Group S.A. increased its holdings in Neumora Therapeutics by 14.5% in the 1st quarter. Artal Group S.A. now owns 2,924,052 shares of the company’s stock worth $40,206,000 after purchasing an additional 371,350 shares in the last quarter. Price T Rowe Associates Inc. MD bought a new stake in shares of Neumora Therapeutics in the 1st quarter valued at about $10,354,000. Charles Schwab Investment Management Inc. grew 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 buying an additional 406,891 shares during the last quarter. 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. Finally, Baker BROS. Advisors LP bought a new stake in shares of Neumora Therapeutics in the 1st quarter valued at about $8,715,000. Institutional investors and hedge funds 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.