Neumora Therapeutics (NASDAQ:NMRA) Shares Gap Up – Time to Buy?

Neumora Therapeutics, Inc. (NASDAQ:NMRA)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $10.39, but opened at $10.84. Neumora Therapeutics shares last traded at $10.59, with a volume of 47,796 shares.

Wall Street Analyst Weigh In

NMRA has been the topic of several recent research reports. Royal Bank of Canada restated an “outperform” rating and set a $29.00 target price on shares of Neumora Therapeutics in a research report on Friday, November 22nd. HC Wainwright reaffirmed a “buy” rating and issued a $30.00 price objective on shares of Neumora Therapeutics in a research note on Wednesday, November 13th. Needham & Company LLC reissued a “buy” rating and set a $23.00 target price on shares of Neumora Therapeutics in a research report on Wednesday, November 13th. Finally, JPMorgan Chase & Co. downgraded Neumora Therapeutics from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $18.00 to $15.00 in a research report on Tuesday, November 5th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Neumora Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $23.40.

Neumora Therapeutics Price Performance

The business has a 50 day simple moving average of $12.12 and a two-hundred day simple moving average of $11.49.

Neumora Therapeutics (NASDAQ:NMRA) last issued 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 period in the prior year, the company posted ($1.14) EPS. As a group, sell-side analysts expect that Neumora Therapeutics, Inc. will post -1.61 EPS for the current year.

Insider Buying and Selling at Neumora Therapeutics

In other Neumora Therapeutics news, Director Matthew K. Fust sold 14,049 shares of Neumora Therapeutics stock in a transaction 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 transaction, the director now directly owns 20,100 shares of the company’s stock, valued at approximately $342,303. The trade was a 41.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Robert A. Lenz sold 30,788 shares of the business’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $11.81, for a total value of $363,606.28. Following the transaction, the insider now owns 339,205 shares in the company, valued at approximately $4,006,011.05. This trade represents a 8.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 50,400 shares of company stock valued at $686,361. 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 modified their holdings of NMRA. Amalgamated Bank grew its holdings in shares of Neumora Therapeutics by 472.8% during the second quarter. Amalgamated Bank now owns 2,910 shares of the company’s stock valued at $29,000 after buying an additional 2,402 shares during the last quarter. Quarry LP acquired a new stake in Neumora Therapeutics during the 2nd quarter worth about $98,000. SkyOak Wealth LLC purchased a new stake in Neumora Therapeutics during the 2nd quarter valued at about $147,000. Principal Financial Group Inc. purchased a new stake in Neumora Therapeutics during the 2nd quarter valued at about $166,000. Finally, Intech Investment Management LLC acquired a new position in shares of Neumora Therapeutics in the third quarter valued at about $175,000. Hedge funds and other institutional investors own 47.65% of the company’s stock.

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.