Neumora Therapeutics (NASDAQ:NMRA) Shares Up 4% – What’s Next?

Neumora Therapeutics, Inc. (NASDAQ:NMRA)’s share price was up 4% during mid-day trading on Thursday . The stock traded as high as $11.22 and last traded at $11.20. Approximately 140,372 shares traded hands during trading, a decline of 81% from the average daily volume of 722,081 shares. The stock had previously closed at $10.77.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on NMRA. HC Wainwright reaffirmed a “buy” rating and set a $30.00 price objective on shares of Neumora Therapeutics in a report on Wednesday. Royal Bank of Canada restated an “outperform” rating and set a $29.00 price target on shares of Neumora Therapeutics in a report on Wednesday, September 4th. Needham & Company LLC reissued a “buy” rating and set a $23.00 target price on shares of Neumora Therapeutics in a research report on Wednesday. Finally, JPMorgan Chase & Co. lowered Neumora Therapeutics from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $18.00 to $15.00 in a report on Tuesday, November 5th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $21.67.

Neumora Therapeutics Trading Down 7.3 %

The business’s fifty day moving average is $13.10 and its 200 day moving average is $11.42. The company has a market cap of $1.75 billion, a P/E ratio of -5.80 and a beta of 3.92.

Neumora Therapeutics (NASDAQ:NMRA) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.45) EPS for the quarter, missing the consensus estimate of ($0.38) by ($0.07). During the same period in the prior year, the company earned ($1.14) EPS. As a group, research analysts expect that Neumora Therapeutics, Inc. will post -1.48 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Robert A. Lenz sold 30,788 shares of the stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $11.81, for a total value of $363,606.28. Following the transaction, the insider now owns 339,205 shares of the company’s stock, valued at $4,006,011.05. This represents a 8.32 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Matthew K. Fust sold 14,049 shares of Neumora Therapeutics 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 sale, the director now directly owns 20,100 shares of the company’s stock, valued at $342,303. This represents a 41.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 110,538 shares of company stock worth $1,390,513. Insiders own 26.40% of the company’s stock.

Hedge Funds Weigh In On Neumora Therapeutics

Several institutional investors have recently modified their holdings of NMRA. Amalgamated Bank boosted its stake in Neumora Therapeutics by 472.8% in the second quarter. Amalgamated Bank now owns 2,910 shares of the company’s stock worth $29,000 after buying an additional 2,402 shares in the last quarter. Handelsbanken Fonder AB grew its holdings in Neumora Therapeutics by 35.0% in the 3rd quarter. Handelsbanken Fonder AB now owns 26,600 shares of the company’s stock worth $351,000 after acquiring an additional 6,900 shares during the last quarter. Quarry LP bought a new stake in Neumora Therapeutics in the 2nd quarter worth $98,000. Intech Investment Management LLC purchased a new position in shares of Neumora Therapeutics in the third quarter valued at about $175,000. Finally, Ballentine Partners LLC bought a new position in shares of Neumora Therapeutics during the third quarter valued at about $178,000. 47.65% of the stock is currently owned by institutional investors.

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.