Neumora Therapeutics (NASDAQ:NMRA) Trading 6.6% Higher – Still a Buy?

Neumora Therapeutics, Inc. (NASDAQ:NMRA) was up 6.6% during mid-day trading on Thursday . The stock traded as high as $15.29 and last traded at $15.26. Approximately 675,040 shares traded hands during mid-day trading, an increase of 5% from the average daily volume of 643,795 shares. The stock had previously closed at $14.31.

Analyst Ratings Changes

A number of brokerages have recently weighed in on NMRA. HC Wainwright began coverage on Neumora Therapeutics in a research report on Tuesday, October 1st. They set a “buy” rating and a $30.00 price objective for the company. Needham & Company LLC restated a “buy” rating and issued a $23.00 price objective on shares of Neumora Therapeutics in a research report on Thursday, September 12th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $29.00 price objective on shares of Neumora Therapeutics in a research note on Wednesday, September 4th. Finally, Mizuho began coverage on shares of Neumora Therapeutics in a report on Monday, July 8th. They issued an “outperform” rating and a $20.00 target price on the stock. One 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 stock presently has an average rating of “Moderate Buy” and an average price target of $22.83.

Neumora Therapeutics Price Performance

The stock has a market cap of $2.48 billion and a price-to-earnings ratio of -6.06. The firm’s 50-day moving average is $12.26 and its 200 day moving average is $11.26.

Neumora Therapeutics (NASDAQ:NMRA) last posted its quarterly earnings results on Tuesday, August 6th. The company reported ($0.37) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.37). On average, sell-side analysts forecast that Neumora Therapeutics, Inc. will post -1.48 EPS for the current year.

Insider Buying and Selling

In other Neumora Therapeutics news, insider Robert A. Lenz sold 5,563 shares of Neumora Therapeutics 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 transaction, the insider now directly owns 322,966 shares of the company’s stock, valued at $4,847,719.66. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, insider Robert A. Lenz sold 30,788 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $11.81, for a total transaction of $363,606.28. Following the sale, the insider now directly owns 339,205 shares in the company, valued at approximately $4,006,011.05. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Robert A. Lenz sold 5,563 shares of the business’s stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $15.01, for a total value of $83,500.63. Following the transaction, the insider now directly owns 322,966 shares in the company, valued at $4,847,719.66. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 96,489 shares of company stock valued at $1,151,258. 26.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD acquired a new position in Neumora Therapeutics in the 1st quarter worth $10,354,000. Callan Capital LLC raised its position in shares of Neumora Therapeutics by 222.6% in the 2nd quarter. Callan Capital LLC now owns 661,194 shares of the company’s stock valued at $6,500,000 after purchasing an additional 456,207 shares in the last quarter. Rhumbline Advisers grew its holdings in Neumora Therapeutics by 488.3% during the 2nd quarter. Rhumbline Advisers now owns 103,258 shares of the company’s stock worth $1,015,000 after acquiring an additional 85,706 shares in the last quarter. SG Americas Securities LLC acquired a new stake in Neumora Therapeutics during the second quarter valued at approximately $566,000. Finally, Marshall Wace LLP bought a new position in Neumora Therapeutics during the 2nd quarter worth approximately $1,323,000. 47.65% of the stock is owned by institutional investors and hedge funds.

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.