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

Neumora Therapeutics, Inc. (NASDAQ:NMRA)’s stock price gapped up before the market opened 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 trading hands.

Analyst Ratings Changes

A number of brokerages recently issued reports on NMRA. HC Wainwright reiterated a “buy” rating and set a $30.00 price objective on shares of Neumora Therapeutics in a research note on Wednesday, November 13th. Royal Bank of Canada reiterated an “outperform” rating and set a $29.00 price objective on shares of Neumora Therapeutics in a research note on Friday, November 22nd. JPMorgan Chase & Co. downgraded Neumora Therapeutics from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $18.00 to $15.00 in a research note on Tuesday, November 5th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $23.00 price objective on shares of Neumora Therapeutics in a research note on Wednesday, November 13th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $21.67.

Neumora Therapeutics Stock Performance

The stock has a fifty day moving average of $12.78 and a 200 day moving average of $11.46. The company has a market capitalization of $1.58 billion, a PE ratio of -5.22 and a beta of 3.92.

Neumora Therapeutics (NASDAQ:NMRA) last issued its quarterly earnings data 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 last year, the firm earned ($1.14) earnings per share. As a group, equities analysts predict that Neumora Therapeutics, Inc. will post -1.61 EPS for the current year.

Insider Transactions at Neumora Therapeutics

In other news, Director Matthew K. Fust sold 14,049 shares of the business’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 transaction of $239,254.47. Following the transaction, the director now owns 20,100 shares of the company’s stock, valued at approximately $342,303. The trade was a 41.14 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Robert A. Lenz sold 5,563 shares of the business’s stock in a transaction that occurred on Wednesday, October 9th. The shares were 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 approximately $4,847,719.66. This represents a 1.69 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 50,400 shares of company stock valued at $686,361 in the last ninety days. Corporate insiders own 26.40% of the company’s stock.

Hedge Funds Weigh In On Neumora Therapeutics

Large investors have recently modified their holdings of the stock. Amalgamated Bank increased its position in shares of Neumora Therapeutics by 472.8% during the 2nd quarter. Amalgamated Bank now owns 2,910 shares of the company’s stock valued at $29,000 after purchasing an additional 2,402 shares during the last quarter. Quarry LP bought a new position in shares of Neumora Therapeutics during the 2nd quarter valued at approximately $98,000. SkyOak Wealth LLC bought a new position in shares of Neumora Therapeutics during the 2nd quarter valued at approximately $147,000. Principal Financial Group Inc. bought a new position in shares of Neumora Therapeutics during the 2nd quarter valued at approximately $166,000. Finally, Intech Investment Management LLC bought a new position in Neumora Therapeutics in the 3rd quarter valued at $175,000. 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.