Stifel Nicolaus Boosts Neumora Therapeutics (NASDAQ:NMRA) Price Target to $3.00

Neumora Therapeutics (NASDAQ:NMRA) had its price target raised by stock analysts at Stifel Nicolaus from $2.00 to $3.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has a “hold” rating on the stock. Stifel Nicolaus’ price objective points to a potential upside of 12.78% from the stock’s current price.

Other equities analysts have also recently issued reports about the stock. JPMorgan Chase & Co. cut shares of Neumora Therapeutics from a “neutral” rating to an “underweight” rating in a research note on Tuesday, September 16th. Needham & Company LLC raised their price objective on shares of Neumora Therapeutics from $6.00 to $8.00 and gave the stock a “buy” rating in a research note on Tuesday, October 28th. Weiss Ratings restated a “sell (d-)” rating on shares of Neumora Therapeutics in a research report on Wednesday, October 8th. Finally, Guggenheim upgraded Neumora Therapeutics from a “neutral” rating to a “buy” rating and set a $14.00 price target on the stock in a report on Monday, October 27th. Four equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $7.57.

Neumora Therapeutics Stock Performance

NASDAQ NMRA opened at $2.66 on Monday. The business’s 50 day moving average price is $2.11 and its 200-day moving average price is $1.53. Neumora Therapeutics has a fifty-two week low of $0.61 and a fifty-two week high of $11.57. The company has a market cap of $444.46 million, a P/E ratio of -1.81 and a beta of 2.97. The company has a debt-to-equity ratio of 0.15, a quick ratio of 6.85 and a current ratio of 6.85.

Neumora Therapeutics (NASDAQ:NMRA) last posted its quarterly earnings data on Thursday, November 6th. The company reported ($0.35) EPS for the quarter, missing the consensus estimate of ($0.34) by ($0.01). Sell-side analysts predict that Neumora Therapeutics will post -1.61 earnings per share for the current year.

Insiders Place Their Bets

In other news, major shareholder Arch Venture Partners Xii, Llc purchased 1,915,700 shares of the company’s stock in a transaction dated Monday, October 27th. The shares were acquired at an average price of $2.61 per share, with a total value of $4,999,977.00. Following the transaction, the insider owned 6,046,907 shares of the company’s stock, valued at $15,782,427.27. This represents a 46.37% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Daljit Singh Aurora sold 114,703 shares of the firm’s stock in a transaction on Tuesday, November 11th. The shares were sold at an average price of $2.68, for a total value of $307,404.04. Additional details regarding this sale are available in the official SEC disclosure. 26.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in NMRA. Legacy Private Trust Co. purchased a new stake in shares of Neumora Therapeutics in the 3rd quarter worth approximately $25,000. Virtu Financial LLC purchased a new position in Neumora Therapeutics during the third quarter valued at approximately $31,000. Brookstone Capital Management bought a new position in Neumora Therapeutics in the third quarter worth approximately $42,000. Public Employees Retirement System of Ohio bought a new position in Neumora Therapeutics in the third quarter worth approximately $44,000. Finally, Jump Financial LLC purchased a new stake in Neumora Therapeutics during the first quarter worth $25,000. 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.