Neumora Therapeutics (NASDAQ:NMRA) Coverage Initiated at Needham & Company LLC

Needham & Company LLC initiated coverage on shares of Neumora Therapeutics (NASDAQ:NMRA) in a research note released on Monday morning, MarketBeat.com reports. The firm issued a buy rating and a $23.00 price objective on the stock.

Other research analysts have also recently issued reports about the stock. William Blair reiterated an outperform rating on shares of Neumora Therapeutics in a report on Friday, April 12th. Mizuho started coverage on shares of Neumora Therapeutics in a report on Monday, July 8th. They set an outperform rating and a $20.00 price objective for the company. Finally, Royal Bank of Canada reiterated an outperform rating and set a $31.00 price objective on shares of Neumora Therapeutics in a report on Thursday, March 28th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of Moderate Buy and an average price target of $22.33.

Neumora Therapeutics Stock Performance

NASDAQ:NMRA opened at $11.91 on Monday. The firm has a fifty day simple moving average of $10.05 and a two-hundred day simple moving average of $12.84. Neumora Therapeutics has a 12 month low of $8.33 and a 12 month high of $21.00.

Neumora Therapeutics (NASDAQ:NMRA) last posted its quarterly earnings results on Tuesday, May 7th. The company reported ($0.34) EPS for the quarter, hitting analysts’ consensus estimates of ($0.34). Equities research analysts anticipate that Neumora Therapeutics will post -1.46 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new position in Neumora Therapeutics during the second quarter worth about $566,000. Artal Group S.A. boosted its holdings in Neumora Therapeutics by 14.5% during the first quarter. Artal Group S.A. now owns 2,924,052 shares of the company’s stock worth $40,206,000 after purchasing an additional 371,350 shares during the last quarter. Kennedy Capital Management LLC purchased a new position in Neumora Therapeutics during the first quarter worth about $1,881,000. Baker BROS. Advisors LP purchased a new position in Neumora Therapeutics during the first quarter worth about $8,715,000. Finally, Price T Rowe Associates Inc. MD purchased a new position in Neumora Therapeutics during the first quarter worth about $10,354,000. 47.65% of the stock is currently owned by hedge funds and other institutional investors.

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.