Neumora Therapeutics (NASDAQ:NMRA) Stock Price Up 5.3%

Neumora Therapeutics, Inc. (NASDAQ:NMRA) rose 5.3% during trading on Thursday . The stock traded as high as $9.14 and last traded at $9.06. Approximately 75,832 shares were traded during mid-day trading, a decline of 85% from the average daily volume of 504,263 shares. The stock had previously closed at $8.60.

Wall Street Analyst Weigh In

NMRA has been the subject of several research reports. JPMorgan Chase & Co. upped their price objective on shares of Neumora Therapeutics from $20.00 to $22.00 and gave the stock an “overweight” rating in a report on Monday, March 18th. William Blair restated an “outperform” rating on shares of Neumora Therapeutics in a report on Friday, April 12th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $31.00 price target on shares of Neumora Therapeutics in a research report on Thursday, March 28th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $22.57.

Neumora Therapeutics Stock Performance

The stock’s 50 day moving average is $9.52 and its 200-day moving average is $13.47.

Neumora Therapeutics (NASDAQ:NMRA) last announced its earnings results on Tuesday, May 7th. The company reported ($0.34) earnings per share for the quarter, meeting the consensus estimate of ($0.34). As a group, equities analysts forecast that Neumora Therapeutics, Inc. will post -1.46 EPS for the current year.

Hedge Funds Weigh In On Neumora Therapeutics

A number of institutional investors have recently bought and sold shares of the business. Laurion Capital Management LP acquired a new stake in shares of Neumora Therapeutics during the 3rd quarter worth approximately $304,000. Citigroup Inc. acquired a new stake in Neumora Therapeutics in the 3rd quarter valued at $203,000. SG Americas Securities LLC acquired a new stake in Neumora Therapeutics in the 4th quarter valued at $108,000. Strs Ohio acquired a new stake in Neumora Therapeutics in the 4th quarter valued at $54,000. Finally, New York State Common Retirement Fund acquired a new stake in Neumora Therapeutics during the 4th quarter worth $118,000. 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.