Neumora Therapeutics’ (NMRA) “Buy” Rating Reaffirmed at Needham & Company LLC

by · The Markets Daily

Needham & Company LLC reaffirmed their buy rating on shares of Neumora Therapeutics (NASDAQ:NMRA – Free Report) in a research report sent to investors on Friday, Benzinga reports. Needham & Company LLC currently has a $23.00 target price on the stock.

Several other research firms also recently weighed in on NMRA. HC Wainwright started coverage on shares of Neumora Therapeutics in a research report on Tuesday, October 1st. They issued a “buy” rating and a $30.00 target price for the company. Mizuho started coverage on shares of Neumora Therapeutics in a research note on Monday, July 8th. They set an “outperform” rating and a $20.00 target price for the company. Finally, Royal Bank of Canada restated an “outperform” rating and set a $29.00 price target on shares of Neumora Therapeutics in a research report on Wednesday, September 4th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $22.83.

Read Our Latest Research Report on NMRA

Neumora Therapeutics Stock Down 14.8 %

Shares of NMRA opened at $14.05 on Friday. The firm has a market cap of $2.24 billion and a PE ratio of -5.49. The company’s fifty day moving average is $12.79 and its two-hundred day moving average is $11.33. Neumora Therapeutics has a fifty-two week low of $8.33 and a fifty-two week high of $21.00.

Neumora Therapeutics (NASDAQ:NMRA – Get Free Report) last released its quarterly earnings results on Tuesday, August 6th. The company reported ($0.37) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.37). As a group, equities research analysts anticipate that Neumora Therapeutics will post -1.48 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Matthew K. Fust sold 14,049 shares of the business’s stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $17.03, for a total value of $239,254.47. Following the sale, the director now directly owns 20,100 shares in the company, valued at $342,303. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider Robert A. Lenz sold 5,563 shares of the business’s 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 owns 322,966 shares in the company, valued at $4,847,719.66. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Matthew K. Fust sold 14,049 shares of the business’s stock in a transaction that occurred on Friday, October 18th. The shares were 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 in the company, valued at $342,303. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 110,538 shares of company stock worth $1,390,513 in the last ninety days. 26.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Neumora Therapeutics

A number of large investors have recently made changes to their positions in the company. Clarius Group LLC acquired a new stake in shares of Neumora Therapeutics during the third quarter valued at approximately $224,000. Handelsbanken Fonder AB raised its holdings in shares of Neumora Therapeutics by 35.0% during the third quarter. Handelsbanken Fonder AB now owns 26,600 shares of the company’s stock valued at $351,000 after acquiring an additional 6,900 shares during the period. Quarry LP purchased a new position in Neumora Therapeutics during the second quarter valued at approximately $98,000. The Manufacturers Life Insurance Company grew its position in Neumora Therapeutics by 79.5% during the second quarter. The Manufacturers Life Insurance Company now owns 111,828 shares of the company’s stock valued at $1,099,000 after purchasing an additional 49,527 shares in the last quarter. Finally, Marshall Wace LLP purchased a new position in Neumora Therapeutics during the second quarter valued at approximately $1,323,000. Institutional investors and hedge funds own 47.65% of the company’s stock.

Neumora Therapeutics Company Profile

(Get Free Report)

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.

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