Neumora Therapeutics (NASDAQ:NMRA) Shares Gap Up – What’s Next?

Neumora Therapeutics, Inc. (NASDAQ:NMRA) gapped up prior to trading on Tuesday . The stock had previously closed at $9.67, but opened at $9.90. Neumora Therapeutics shares last traded at $9.90, with a volume of 191 shares.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on NMRA shares. Royal Bank of Canada reissued an “outperform” rating and set a $29.00 price target on shares of Neumora Therapeutics in a research note on Friday. HC Wainwright reissued a “buy” rating and set a $30.00 price target 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 price target on shares of Neumora Therapeutics in a research note on Wednesday, November 13th. Finally, JPMorgan Chase & Co. downgraded shares of Neumora Therapeutics from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $18.00 to $15.00 in a research note on Tuesday, November 5th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Neumora Therapeutics has an average rating of “Moderate Buy” and an average price target of $21.67.

Neumora Therapeutics Price Performance

The stock has a market cap of $1.58 billion, a P/E ratio of -5.17 and a beta of 3.92. The company’s 50 day simple moving average is $12.87 and its 200 day simple moving average is $11.46.

Neumora Therapeutics (NASDAQ:NMRA) last released 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 in the prior year, the business posted ($1.14) EPS. On average, equities research analysts predict that Neumora Therapeutics, Inc. will post -1.61 earnings per share for the current year.

Insider Activity

In related news, Director Matthew K. Fust sold 14,049 shares of the stock in a transaction 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 completion of the transaction, the director now owns 20,100 shares in the company, valued at approximately $342,303. This represents a 41.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Robert A. Lenz sold 5,563 shares of the stock in a transaction on 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 owns 322,966 shares of the company’s stock, valued at $4,847,719.66. The trade was a 1.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 50,400 shares of company stock worth $686,361 over the last quarter. 26.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Amalgamated Bank raised its position in 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 acquiring an additional 2,402 shares in the last quarter. Quarry LP bought a new stake in Neumora Therapeutics during the second quarter worth $98,000. SkyOak Wealth LLC bought a new stake in Neumora Therapeutics during the second quarter worth $147,000. Principal Financial Group Inc. bought a new stake in Neumora Therapeutics during the second quarter worth $166,000. Finally, Intech Investment Management LLC bought a new stake in Neumora Therapeutics during the third quarter worth $175,000. Institutional investors and hedge funds 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.