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

Needham & Company LLC reissued their buy rating on shares of Neumora Therapeutics (NASDAQ:NMRA) in a research note issued to investors on Thursday,Benzinga reports. Needham & Company LLC currently has a $23.00 price objective on the stock.

A number of other research firms also recently commented on NMRA. Royal Bank of Canada reaffirmed an “outperform” rating and set a $29.00 price objective on shares of Neumora Therapeutics in a report on Friday, November 22nd. JPMorgan Chase & Co. downgraded shares of 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 research note on Tuesday, November 5th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $30.00 price objective on shares of Neumora Therapeutics in a research note on Monday, December 16th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Neumora Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.40.

Neumora Therapeutics Stock Performance

NASDAQ NMRA opened at $1.97 on Thursday. Neumora Therapeutics has a twelve month low of $1.83 and a twelve month high of $21.00. The stock has a market capitalization of $318.28 million, a PE ratio of -1.05 and a beta of 3.34. The stock has a 50-day simple moving average of $10.89 and a 200 day simple moving average of $11.59.

Neumora Therapeutics (NASDAQ:NMRA) last released 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 in the previous year, the business posted ($1.14) EPS. As a group, equities research analysts forecast that Neumora Therapeutics will post -1.61 EPS for the current fiscal year.

Insider Transactions at Neumora Therapeutics

In other news, insider Robert A. Lenz sold 5,563 shares of the firm’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $15.01, for a total value of $83,500.63. Following the transaction, the insider now owns 322,966 shares of the company’s stock, valued at approximately $4,847,719.66. This trade represents a 1.69 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Matthew K. Fust sold 14,049 shares of the stock in a transaction that occurred on Friday, October 18th. The shares were 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 in the company, 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. 26.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of NMRA. Bank of New York Mellon Corp boosted its stake in Neumora Therapeutics by 474.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 235,593 shares of the company’s stock worth $2,316,000 after purchasing an additional 194,559 shares during the period. Principal Financial Group Inc. acquired a new position in Neumora Therapeutics during the second quarter worth $166,000. Rhumbline Advisers grew its position in Neumora Therapeutics by 488.3% in the second quarter. Rhumbline Advisers now owns 103,258 shares of the company’s stock valued at $1,015,000 after purchasing an additional 85,706 shares in the last quarter. TD Asset Management Inc increased its stake in Neumora Therapeutics by 31.6% in the 2nd quarter. TD Asset Management Inc now owns 144,994 shares of the company’s stock valued at $1,425,000 after buying an additional 34,800 shares during the last quarter. Finally, Amalgamated Bank lifted its position in Neumora Therapeutics by 472.8% during the 2nd 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. Institutional investors own 47.65% of the company’s stock.

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.