Neumora Therapeutics (NASDAQ:NMRA) Shares Up 7.2% – Here’s Why

Neumora Therapeutics, Inc. (NASDAQ:NMRA)’s share price was up 7.2% on Thursday . The stock traded as high as $11.43 and last traded at $11.40. Approximately 447,499 shares traded hands during trading, a decline of 40% from the average daily volume of 748,664 shares. The stock had previously closed at $10.63.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on NMRA. Royal Bank of Canada restated an “outperform” rating and issued a $29.00 target price on shares of Neumora Therapeutics in a research note on Friday, November 22nd. Needham & Company LLC reissued a “buy” rating and set a $23.00 price objective on shares of Neumora Therapeutics in a research report on Wednesday, November 13th. HC Wainwright reaffirmed a “buy” rating and issued a $30.00 target price on shares of Neumora Therapeutics in a research report on Monday, December 16th. Finally, JPMorgan Chase & Co. cut shares of Neumora Therapeutics from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $18.00 to $15.00 in a research report on Tuesday, November 5th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $23.40.

Neumora Therapeutics Stock Up 7.5 %

The stock has a market cap of $1.85 billion, a PE ratio of -6.11 and a beta of 3.34. The stock’s fifty day moving average price is $11.29 and its 200 day moving average price is $11.56.

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

Insider Buying and Selling at Neumora Therapeutics

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Amalgamated Bank lifted its stake in Neumora Therapeutics by 472.8% in the 2nd quarter. Amalgamated Bank now owns 2,910 shares of the company’s stock worth $29,000 after purchasing an additional 2,402 shares in the last quarter. Handelsbanken Fonder AB boosted its position in shares of Neumora Therapeutics by 35.0% during the 3rd quarter. Handelsbanken Fonder AB now owns 26,600 shares of the company’s stock valued at $351,000 after acquiring an additional 6,900 shares during the last quarter. Quarry LP purchased a new position in shares of Neumora Therapeutics in the second quarter valued at $98,000. Intech Investment Management LLC bought a new stake in Neumora Therapeutics in the third quarter worth $175,000. Finally, Ballentine Partners LLC bought a new position in Neumora Therapeutics during the third quarter valued at $178,000. Hedge funds and other 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.