Neumora Therapeutics (NASDAQ:NMRA) Shares Gap Up – What’s Next?

Neumora Therapeutics, Inc. (NASDAQ:NMRA) shares gapped up prior to trading on Tuesday . The stock had previously closed at $9.67, but opened at $9.90. Neumora Therapeutics shares last traded at $9.90, with a volume of 191 shares trading hands.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on NMRA shares. Needham & Company LLC reissued a “buy” rating and issued a $23.00 price objective on shares of Neumora Therapeutics in a research report on Wednesday, November 13th. Royal Bank of Canada reissued an “outperform” rating and issued a $29.00 price objective on shares of Neumora Therapeutics in a research report on Friday. HC Wainwright reissued a “buy” rating and issued a $30.00 price objective on shares of Neumora Therapeutics in a research report on Wednesday, November 13th. Finally, JPMorgan Chase & Co. lowered shares of Neumora Therapeutics from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $18.00 to $15.00 in a research report on Tuesday, November 5th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $21.67.

Neumora Therapeutics Price Performance

The firm has a market capitalization of $1.58 billion, a P/E ratio of -5.17 and a beta of 3.92. The business’s 50-day moving average is $12.87 and its 200 day moving average is $11.46.

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

Insiders Place Their Bets

In other news, Director Matthew K. Fust sold 14,049 shares of the firm’s stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $17.03, for a total value of $239,254.47. Following the sale, the director now directly owns 20,100 shares in the company, valued at approximately $342,303. This trade represents a 41.14 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible 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 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. The trade was a 1.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 50,400 shares of company stock worth $686,361 over the last ninety days. Corporate insiders own 26.40% of the company’s stock.

Institutional Investors Weigh In On Neumora Therapeutics

A number of hedge funds have recently made changes to their positions in NMRA. Barclays PLC boosted its position in Neumora Therapeutics by 352.9% during the 3rd quarter. Barclays PLC now owns 129,210 shares of the company’s stock worth $1,708,000 after buying an additional 100,678 shares during the period. Geode Capital Management LLC boosted its position in Neumora Therapeutics by 54.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,979,847 shares of the company’s stock worth $26,159,000 after buying an additional 694,385 shares during the period. Wexford Capital LP boosted its position in 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 buying an additional 103,285 shares during the period. State Street Corp boosted its position in 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 buying an additional 707,409 shares during the period. Finally, Point72 Asset Management L.P. acquired a new stake in Neumora Therapeutics during the 3rd quarter worth approximately $1,097,000. 47.65% of the stock is currently owned by institutional investors and hedge funds.

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.