Neumora Therapeutics (NASDAQ:NMRA) Sees Strong Trading Volume

Shares of Neumora Therapeutics, Inc. (NASDAQ:NMRA) saw unusually-strong trading volume on Thursday . Approximately 498,939 shares changed hands during trading, an increase of 5% from the previous session’s volume of 476,564 shares.The stock last traded at $9.20 and had previously closed at $9.10.

Analyst Upgrades and Downgrades

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

Neumora Therapeutics Stock Down 1.1 %

The firm has a fifty day simple moving average of $14.07 and a 200 day simple moving average of $14.07.

Neumora Therapeutics (NASDAQ:NMRA) last issued its 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. Equities research analysts expect that Neumora Therapeutics, Inc. will post -1.48 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. FMR LLC bought a new stake in shares of Neumora Therapeutics in the 3rd quarter valued at approximately $79,360,000. Avidity Partners Management LP boosted its stake in Neumora Therapeutics by 10.6% in the 4th quarter. Avidity Partners Management LP now owns 1,990,632 shares of the company’s stock valued at $33,940,000 after buying an additional 190,632 shares in the last quarter. Johnson & Johnson bought a new stake in Neumora Therapeutics in the third quarter valued at $12,870,000. Addis & Hill Inc bought a new stake in Neumora Therapeutics in the first quarter valued at $4,187,000. Finally, Auour Investments LLC acquired a new position in Neumora Therapeutics during the first quarter worth $1,445,000. 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.