Neumora Therapeutics (NASDAQ:NMRA) Given Buy Rating at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Neumora Therapeutics (NASDAQ:NMRA) in a report published on Thursday morning, Benzinga reports. The brokerage currently has a $23.00 price objective on the stock.

NMRA has been the subject of a number of other reports. Mizuho initiated coverage on Neumora Therapeutics in a research note on Monday, July 8th. They issued an outperform rating and a $20.00 price target for the company. Royal Bank of Canada reaffirmed an outperform rating and issued a $29.00 price objective on shares of Neumora Therapeutics in a research report on Wednesday, September 4th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of $22.11.

Neumora Therapeutics Stock Up 3.8 %

Shares of Neumora Therapeutics stock opened at $11.83 on Thursday. Neumora Therapeutics has a 52-week low of $8.33 and a 52-week high of $21.00. The firm’s 50 day moving average price is $11.56 and its 200-day moving average price is $11.69.

Neumora Therapeutics (NASDAQ:NMRA) last released its quarterly earnings results on Tuesday, August 6th. The company reported ($0.37) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.37). On average, equities research analysts forecast that Neumora Therapeutics will post -1.51 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Joshua Pinto sold 31,642 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $11.78, for a total value of $372,742.76. Following the transaction, the chief financial officer now owns 154,658 shares in the company, valued at approximately $1,821,871.24. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 26.40% of the company’s stock.

Institutional Investors Weigh In On Neumora Therapeutics

Several hedge funds have recently added to or reduced their stakes in NMRA. New York State Common Retirement Fund acquired a new position in shares of Neumora Therapeutics in the 4th quarter valued at about $118,000. Amalgamated Bank acquired a new position in Neumora Therapeutics in the fourth quarter valued at approximately $29,000. Avidity Partners Management LP boosted its position in Neumora Therapeutics by 10.6% in the 4th quarter. Avidity Partners Management LP now owns 1,990,632 shares of the company’s stock worth $33,940,000 after purchasing an additional 190,632 shares in the last quarter. Auour Investments LLC acquired a new stake in shares of Neumora Therapeutics during the 1st quarter worth approximately $1,445,000. Finally, Callan Capital LLC purchased a new position in shares of Neumora Therapeutics during the 1st quarter valued at approximately $2,819,000. 47.65% of the stock is owned by hedge funds and other institutional investors.

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.