Neumora Therapeutics (NASDAQ:NMRA) Trading Up 7.2% – What’s Next?

Neumora Therapeutics, Inc. (NASDAQ:NMRA) traded up 7.2% on Thursday . The stock traded as high as $11.43 and last traded at $11.40. Approximately 447,499 shares changed hands during mid-day trading, a decline of 40% from the average session volume of 748,664 shares. The stock had previously closed at $10.63.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Royal Bank of Canada reiterated an “outperform” rating and set a $29.00 price target on shares of Neumora Therapeutics in a research report on Friday, November 22nd. Needham & Company LLC reaffirmed a “buy” rating and set a $23.00 target price on shares of Neumora Therapeutics in a report on Wednesday, November 13th. HC Wainwright reissued a “buy” rating and issued a $30.00 price target on shares of Neumora Therapeutics in a research note on Monday, December 16th. Finally, JPMorgan Chase & Co. cut shares of Neumora Therapeutics from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $18.00 to $15.00 in a research note on Tuesday, November 5th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Neumora Therapeutics presently has an average rating of “Moderate Buy” and a consensus target price of $23.40.

Neumora Therapeutics Price Performance

The stock has a market cap of $1.83 billion, a PE ratio of -6.06 and a beta of 3.34. The stock’s fifty day moving average is $11.07 and its 200-day moving average is $11.56.

Neumora Therapeutics (NASDAQ:NMRA) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.45) earnings per share for the quarter, missing the consensus estimate of ($0.39) by ($0.06). During the same quarter last year, the firm earned ($1.14) EPS. On average, sell-side analysts expect that Neumora Therapeutics, Inc. will post -1.61 EPS for the current fiscal year.

Insider Buying and Selling at Neumora Therapeutics

In related news, Director Matthew K. Fust sold 14,049 shares of the business’s stock in a transaction dated 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 approximately $342,303. The trade was a 41.14 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Robert A. Lenz sold 5,563 shares of the stock in a transaction dated Wednesday, October 9th. The stock was 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 approximately $4,847,719.66. This trade represents a 1.69 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 26.40% of the company’s stock.

Institutional Trading of Neumora Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NMRA. Amalgamated Bank boosted its position in shares of Neumora Therapeutics by 472.8% during the second quarter. Amalgamated Bank now owns 2,910 shares of the company’s stock worth $29,000 after buying an additional 2,402 shares during the period. Quarry LP purchased a new position in Neumora Therapeutics during the 2nd quarter valued at about $98,000. Intech Investment Management LLC purchased a new position in Neumora Therapeutics during the 3rd quarter valued at about $175,000. Ballentine Partners LLC acquired a new position in Neumora Therapeutics in the 3rd quarter valued at about $178,000. Finally, SkyOak Wealth LLC purchased a new stake in Neumora Therapeutics during the second quarter worth about $147,000. Hedge funds and other institutional investors own 47.65% of the company’s stock.

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.