Neumora Therapeutics, Inc. (NASDAQ:NMRA) Receives $23.40 Consensus PT from Brokerages

Neumora Therapeutics, Inc. (NASDAQ:NMRA) has earned a consensus rating of “Moderate Buy” from the seven ratings firms that are covering the company, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $16.50.

NMRA has been the topic of several research analyst reports. Bank of America reduced their price target on shares of Neumora Therapeutics from $22.00 to $7.00 and set a “buy” rating on the stock in a research report on Monday. HC Wainwright reissued a “buy” rating and issued a $30.00 target price on shares of Neumora Therapeutics in a research report on Friday, January 3rd. Royal Bank of Canada lowered Neumora Therapeutics from an “outperform” rating to a “sector perform” rating and dropped their price target for the company from $29.00 to $4.00 in a research report on Thursday, January 2nd. Needham & Company LLC reiterated a “buy” rating and issued a $23.00 price objective on shares of Neumora Therapeutics in a report on Thursday, January 2nd. Finally, JPMorgan Chase & Co. cut shares of Neumora Therapeutics from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $18.00 to $15.00 in a report on Tuesday, November 5th.

Neumora Therapeutics Stock Performance

NASDAQ NMRA opened at $2.37 on Thursday. The stock has a market cap of $382.90 million, a P/E ratio of -1.27 and a beta of 2.71. Neumora Therapeutics has a fifty-two week low of $1.83 and a fifty-two week high of $21.00. The stock has a 50 day simple moving average of $9.90 and a two-hundred day simple moving average of $11.35.

Neumora Therapeutics (NASDAQ:NMRA) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.45) EPS for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.06). During the same period in the prior year, the firm earned ($1.14) earnings per share. 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, Director Matthew K. Fust sold 14,049 shares of the firm’s 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 completion of the transaction, the director now directly owns 20,100 shares in the company, valued at $342,303. This trade represents a 41.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 26.40% of the company’s stock.

Institutional Trading of Neumora Therapeutics

Several institutional investors have recently bought and sold shares of NMRA. Geode Capital Management LLC raised its holdings in Neumora Therapeutics by 54.0% in the third quarter. Geode Capital Management LLC now owns 1,979,847 shares of the company’s stock worth $26,159,000 after buying an additional 694,385 shares during the last quarter. State Street Corp raised its holdings in Neumora Therapeutics by 65.3% in the 3rd quarter. State Street Corp now owns 1,790,707 shares of the company’s stock worth $23,655,000 after acquiring an additional 707,409 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Neumora Therapeutics by 139.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 698,255 shares of the company’s stock valued at $9,224,000 after acquiring an additional 406,891 shares in the last quarter. Callan Capital LLC boosted its stake in Neumora Therapeutics by 222.6% during the 2nd quarter. Callan Capital LLC now owns 661,194 shares of the company’s stock valued at $6,500,000 after purchasing an additional 456,207 shares during the last quarter. Finally, Auour Investments LLC bought a new stake in shares of Neumora Therapeutics in the 3rd quarter worth $3,302,000. 47.65% of the stock is owned by hedge funds and other 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.