State Street Corp Buys 707,409 Shares of Neumora Therapeutics, Inc. (NASDAQ:NMRA)

State Street Corp raised its stake in shares of Neumora Therapeutics, Inc. (NASDAQ:NMRA) by 65.3% in the third quarter, Holdings Channel reports. The institutional investor owned 1,790,707 shares of the company’s stock after buying an additional 707,409 shares during the quarter. State Street Corp’s holdings in Neumora Therapeutics were worth $23,655,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Amalgamated Bank grew its stake in Neumora Therapeutics by 472.8% during the second quarter. Amalgamated Bank now owns 2,910 shares of the company’s stock valued at $29,000 after acquiring an additional 2,402 shares in the last quarter. Quarry LP bought a new position in Neumora Therapeutics in the 2nd quarter valued at $98,000. Intech Investment Management LLC purchased a new position in shares of Neumora Therapeutics during the 3rd quarter valued at $175,000. Ballentine Partners LLC bought a new position in shares of Neumora Therapeutics in the third quarter worth $178,000. Finally, SkyOak Wealth LLC purchased a new stake in shares of Neumora Therapeutics in the second quarter worth $147,000. 47.65% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Royal Bank of Canada restated an “outperform” rating and issued a $29.00 target price on shares of Neumora Therapeutics in a research note on Friday, November 22nd. JPMorgan Chase & Co. downgraded shares of Neumora Therapeutics from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $18.00 to $15.00 in a research note on Tuesday, November 5th. Needham & Company LLC reissued a “buy” rating and issued a $23.00 price target on shares of Neumora Therapeutics in a research note on Wednesday, November 13th. Finally, HC Wainwright restated a “buy” rating and set a $30.00 price objective on shares of Neumora Therapeutics in a research report on Monday, December 16th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $23.40.

Insider Activity

In other news, insider Robert A. Lenz sold 5,563 shares of the company’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $15.01, for a total transaction of $83,500.63. Following the completion of the transaction, the insider now directly owns 322,966 shares of the company’s stock, valued at approximately $4,847,719.66. This represents a 1.69 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Matthew K. Fust sold 14,049 shares of the firm’s stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $17.03, for a total value of $239,254.47. Following the completion of the sale, the director now directly owns 20,100 shares in the company, valued at $342,303. The trade was 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 currently owned by corporate insiders.

Neumora Therapeutics Price Performance

Shares of NMRA opened at $10.85 on Monday. Neumora Therapeutics, Inc. has a 1 year low of $8.33 and a 1 year high of $21.00. The stock has a 50 day simple moving average of $11.61 and a two-hundred day simple moving average of $11.54. The firm has a market cap of $1.75 billion, a P/E ratio of -5.80 and a beta of 3.34.

Neumora Therapeutics (NASDAQ:NMRA) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.45) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.06). During the same quarter in the prior year, the firm earned ($1.14) EPS. On average, equities analysts anticipate that Neumora Therapeutics, Inc. will post -1.61 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.