Neumora Therapeutics, Inc. (NASDAQ:NMRA) Receives $21.67 Consensus Target Price from Analysts

Shares of Neumora Therapeutics, Inc. (NASDAQ:NMRA) have received a consensus recommendation of “Moderate Buy” from the seven analysts that are presently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $21.67.

A number of equities research analysts recently commented on the stock. HC Wainwright reissued a “buy” rating and set a $30.00 target price on shares of Neumora Therapeutics in a research report on Wednesday, November 13th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $29.00 price target on shares of Neumora Therapeutics in a research report on Wednesday, September 4th. JPMorgan Chase & Co. cut Neumora Therapeutics from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $18.00 to $15.00 in a research report on Tuesday, November 5th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $23.00 target price on shares of Neumora Therapeutics in a research report on Wednesday, November 13th.

Insider Activity

In other news, insider Robert A. Lenz sold 30,788 shares of the business’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $11.81, for a total transaction of $363,606.28. Following the completion of the transaction, the insider now directly owns 339,205 shares of the company’s stock, valued at approximately $4,006,011.05. The trade was a 8.32 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Joshua Pinto sold 28,496 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $11.63, for a total transaction of $331,408.48. Following the completion of the sale, the chief financial officer now directly owns 210,469 shares in the company, valued at approximately $2,447,754.47. This trade represents a 11.92 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 110,538 shares of company stock valued at $1,390,513. 26.40% of the stock is currently owned by company insiders.

Institutional Trading of Neumora Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the business. Nan Fung Group Holdings Ltd purchased a new position in shares of Neumora Therapeutics in the 1st quarter valued at about $871,000. Price T Rowe Associates Inc. MD acquired a new stake in Neumora Therapeutics during the first quarter worth approximately $10,354,000. Baker BROS. Advisors LP purchased a new stake in shares of Neumora Therapeutics during the 1st quarter worth approximately $8,715,000. Kennedy Capital Management LLC acquired a new position in shares of Neumora Therapeutics in the 1st quarter valued at $1,881,000. Finally, Artal Group S.A. grew its position in shares of Neumora Therapeutics by 14.5% in the 1st quarter. Artal Group S.A. now owns 2,924,052 shares of the company’s stock valued at $40,206,000 after buying an additional 371,350 shares during the last quarter. 47.65% of the stock is currently owned by institutional investors and hedge funds.

Neumora Therapeutics Price Performance

Neumora Therapeutics stock opened at $10.84 on Wednesday. The stock has a market cap of $1.75 billion, a price-to-earnings ratio of -5.80 and a beta of 3.92. The firm has a 50-day moving average of $13.10 and a two-hundred day moving average of $11.45. Neumora Therapeutics has a 1 year low of $8.33 and a 1 year high of $21.00.

Neumora Therapeutics (NASDAQ:NMRA) last issued its earnings results on Tuesday, November 12th. The company reported ($0.45) earnings per share for the quarter, missing the consensus estimate of ($0.39) by ($0.06). During the same period last year, the firm posted ($1.14) earnings per share. Research analysts expect that Neumora Therapeutics will post -1.58 earnings per share for the current year.

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.