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

Neumora Therapeutics, Inc. (NASDAQ:NMRA) has received a consensus recommendation of “Moderate Buy” from the six research firms that are currently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $18.40.

Several brokerages recently commented on NMRA. JPMorgan Chase & Co. downgraded shares of Neumora Therapeutics from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $18.00 to $15.00 in a research report on Tuesday, November 5th. Needham & Company LLC restated a “buy” rating and issued a $23.00 price target on shares of Neumora Therapeutics in a research note on Thursday. HC Wainwright reissued a “buy” rating and issued a $30.00 target price on shares of Neumora Therapeutics in a research report on Friday. Finally, Royal Bank of Canada lowered shares of Neumora Therapeutics from an “outperform” rating to a “sector perform” rating and reduced their price target for the stock from $29.00 to $4.00 in a research note on Thursday.

Neumora Therapeutics Price Performance

NASDAQ:NMRA opened at $2.17 on Thursday. The firm’s 50-day moving average price is $10.47 and its 200-day moving average price is $11.48. The company has a market capitalization of $350.59 million, a PE ratio of -1.16 and a beta of 3.34. Neumora Therapeutics has a 1-year low of $1.83 and a 1-year high of $21.00.

Neumora Therapeutics (NASDAQ:NMRA) last released its earnings results on Tuesday, November 12th. The company reported ($0.45) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.39) by ($0.06). During the same quarter in the previous year, the firm posted ($1.14) EPS. Equities analysts anticipate that Neumora Therapeutics will post -1.61 EPS for the current fiscal year.

Insider Activity at Neumora Therapeutics

In related news, Director Matthew K. Fust sold 14,049 shares of Neumora Therapeutics stock in a transaction that occurred 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 sale, the director now owns 20,100 shares of the company’s stock, valued at approximately $342,303. This trade represents a 41.14 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Robert A. Lenz sold 5,563 shares of the stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $15.01, for a total transaction of $83,500.63. Following the sale, the insider now directly owns 322,966 shares of the company’s stock, valued at approximately $4,847,719.66. This trade represents a 1.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 26.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Neumora Therapeutics

Several large investors have recently made changes to their positions in NMRA. JPMorgan Chase & Co. grew its position in Neumora Therapeutics by 2.6% in the third quarter. JPMorgan Chase & Co. now owns 64,421 shares of the company’s stock worth $851,000 after acquiring an additional 1,629 shares in the last quarter. Barclays PLC raised its stake in shares of Neumora Therapeutics by 352.9% in the third quarter. Barclays PLC now owns 129,210 shares of the company’s stock valued at $1,708,000 after acquiring an additional 100,678 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Neumora Therapeutics by 54.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,979,847 shares of the company’s stock worth $26,159,000 after acquiring an additional 694,385 shares during the last quarter. Wexford Capital LP boosted its stake in shares of Neumora Therapeutics by 90.1% during the 3rd quarter. Wexford Capital LP now owns 217,879 shares of the company’s stock worth $2,878,000 after purchasing an additional 103,285 shares during the period. Finally, State Street Corp grew its holdings in Neumora Therapeutics by 65.3% during the 3rd quarter. State Street Corp now owns 1,790,707 shares of the company’s stock valued at $23,655,000 after purchasing an additional 707,409 shares during the last quarter. 47.65% of the stock is owned by 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.