Neumora Therapeutics (NASDAQ:NMRA) Stock Price Up 5.2%

Neumora Therapeutics, Inc. (NASDAQ:NMRA)’s stock price traded up 5.2% on Wednesday . The stock traded as high as $12.43 and last traded at $12.34. 189,205 shares were traded during trading, a decline of 68% from the average session volume of 596,284 shares. The stock had previously closed at $11.73.

Analysts Set New Price Targets

NMRA has been the topic of a number of research reports. Needham & Company LLC reiterated a “buy” rating and issued a $23.00 target price on shares of Neumora Therapeutics in a report on Thursday, September 12th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $29.00 price target on shares of Neumora Therapeutics in a report on Wednesday, September 4th. Finally, Mizuho started coverage on Neumora Therapeutics in a research note on Monday, July 8th. They set an “outperform” rating and a $20.00 price objective for the company. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $22.11.

Neumora Therapeutics Stock Performance

The firm’s 50-day simple moving average is $11.65 and its two-hundred day simple moving average is $11.46.

Neumora Therapeutics (NASDAQ:NMRA) last issued its quarterly earnings results on Tuesday, August 6th. The company reported ($0.37) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.37). As a group, equities analysts anticipate that Neumora Therapeutics, Inc. will post -1.51 earnings per share for the current year.

Insider Buying and Selling at Neumora Therapeutics

In other news, CFO Joshua Pinto sold 31,642 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $11.78, for a total value of $372,742.76. Following the completion of the sale, the chief financial officer now directly owns 154,658 shares of the company’s stock, valued at $1,821,871.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 26.40% of the company’s stock.

Institutional Trading of Neumora Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of NMRA. Amalgamated Bank purchased a new position in Neumora Therapeutics in the fourth quarter valued at about $29,000. Quarry LP acquired a new stake in shares of Neumora Therapeutics during the 2nd quarter valued at about $98,000. SkyOak Wealth LLC bought a new stake in shares of Neumora Therapeutics in the 2nd quarter valued at approximately $147,000. Principal Financial Group Inc. bought a new stake in shares of Neumora Therapeutics in the 2nd quarter valued at approximately $166,000. Finally, TD Asset Management Inc increased its holdings in Neumora Therapeutics by 31.6% in the second quarter. TD Asset Management Inc now owns 144,994 shares of the company’s stock worth $1,425,000 after buying an additional 34,800 shares during the last quarter. 47.65% of the stock is currently 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.