Neumora Therapeutics (NASDAQ:NMRA) Stock Price Up 6.2%

Neumora Therapeutics, Inc. (NASDAQ:NMRA)’s share price rose 6.2% during mid-day trading on Monday . The company traded as high as $9.74 and last traded at $9.72. Approximately 83,386 shares traded hands during mid-day trading, a decline of 82% from the average daily volume of 474,187 shares. The stock had previously closed at $9.15.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on NMRA. JPMorgan Chase & Co. raised their target price on shares of Neumora Therapeutics from $20.00 to $22.00 and gave the company an “overweight” rating in a research note on Monday, March 18th. William Blair reissued an “outperform” rating on shares of Neumora Therapeutics in a research report on Friday, April 12th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $31.00 target price on shares of Neumora Therapeutics in a research note on Thursday, March 28th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $22.57.

Neumora Therapeutics Stock Performance

The company’s 50 day moving average is $14.64 and its two-hundred day moving average is $14.11.

Neumora Therapeutics (NASDAQ:NMRA) last announced its quarterly earnings results on Thursday, March 7th. The company reported ($0.71) EPS for the quarter, beating analysts’ consensus estimates of ($0.76) by $0.05. As a group, equities analysts predict that Neumora Therapeutics, Inc. will post -1.48 EPS for the current fiscal year.

Hedge Funds Weigh In On Neumora Therapeutics

Several large investors have recently modified their holdings of NMRA. Amalgamated Bank bought a new stake in Neumora Therapeutics during the 4th quarter valued at $29,000. Tower Research Capital LLC TRC purchased a new position in Neumora Therapeutics during the 4th quarter valued at about $44,000. Strs Ohio bought a new stake in shares of Neumora Therapeutics in the 4th quarter valued at about $54,000. SG Americas Securities LLC purchased a new stake in shares of Neumora Therapeutics in the 4th quarter worth approximately $108,000. Finally, New York State Common Retirement Fund purchased a new position in Neumora Therapeutics during the fourth quarter valued at approximately $118,000. 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.