Neumora Therapeutics (NASDAQ:NMRA) Stock Price Up 4% – Time to Buy?

Shares of Neumora Therapeutics, Inc. (NASDAQ:NMRA) were up 4% on Thursday . The company traded as high as $11.22 and last traded at $11.20. Approximately 140,372 shares traded hands during mid-day trading, a decline of 81% from the average daily volume of 722,081 shares. The stock had previously closed at $10.77.

Wall Street Analyst Weigh In

NMRA has been the topic of several recent research reports. JPMorgan Chase & Co. lowered Neumora Therapeutics from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $18.00 to $15.00 in a research report on Tuesday, November 5th. Needham & Company LLC restated a “buy” rating and set a $23.00 target price on shares of Neumora Therapeutics in a research report on Wednesday. HC Wainwright reaffirmed a “buy” rating and issued a $30.00 target price on shares of Neumora Therapeutics in a research note on Wednesday. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $29.00 price target on shares of Neumora Therapeutics in a research report on Wednesday, September 4th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $21.67.

Neumora Therapeutics Trading Down 7.3 %

The firm has a 50-day moving average of $13.10 and a two-hundred day moving average of $11.42. The firm has a market capitalization of $1.75 billion, a P/E ratio of -5.80 and a beta of 3.92.

Neumora Therapeutics (NASDAQ:NMRA) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.45) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.38) by ($0.07). During the same period in the prior year, the business posted ($1.14) EPS. On average, sell-side analysts anticipate that Neumora Therapeutics, Inc. will post -1.48 EPS for the current fiscal year.

Insider Buying and Selling

In other Neumora Therapeutics news, insider Robert A. Lenz sold 5,563 shares of the company’s stock in a transaction 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 of the company’s stock, valued at approximately $4,847,719.66. This represents a 1.69 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Matthew K. Fust sold 14,049 shares of the firm’s stock in a transaction that occurred on Friday, October 18th. The stock was 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 of the company’s stock, valued at $342,303. This represents a 41.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 110,538 shares of company stock valued at $1,390,513 over the last 90 days. 26.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Neumora Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Artal Group S.A. boosted its holdings in Neumora Therapeutics by 14.5% in the first quarter. Artal Group S.A. now owns 2,924,052 shares of the company’s stock worth $40,206,000 after acquiring an additional 371,350 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Neumora Therapeutics by 54.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,979,847 shares of the company’s stock worth $26,159,000 after purchasing an additional 694,385 shares in the last quarter. State Street Corp increased its stake in Neumora Therapeutics by 65.3% during the 3rd quarter. State Street Corp now owns 1,790,707 shares of the company’s stock valued at $23,655,000 after purchasing an additional 707,409 shares in the last quarter. Price T Rowe Associates Inc. MD acquired a new position in Neumora Therapeutics during the first quarter worth $10,354,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Neumora Therapeutics by 139.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 698,255 shares of the company’s stock valued at $9,224,000 after buying an additional 406,891 shares during the last quarter. 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.