Neumora Therapeutics (NASDAQ:NMRA) Shares Gap Up to $12.61

Neumora Therapeutics, Inc. (NASDAQ:NMRA) gapped up prior to trading on Thursday . The stock had previously closed at $12.61, but opened at $12.98. Neumora Therapeutics shares last traded at $12.79, with a volume of 19,150 shares trading hands.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on NMRA shares. Royal Bank of Canada reissued an “outperform” rating and issued a $31.00 target price on shares of Neumora Therapeutics in a research report on Thursday. JPMorgan Chase & Co. upped their price objective on shares of Neumora Therapeutics from $20.00 to $22.00 and gave the stock an “overweight” rating in a research report on Monday, March 18th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Neumora Therapeutics in a research report on Tuesday, December 12th. They set a “hold” rating and a $13.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.57.

Neumora Therapeutics Stock Up 3.9 %

The business has a 50 day simple moving average of $16.48.

Neumora Therapeutics (NASDAQ:NMRA) last announced its quarterly earnings results on Thursday, March 7th. The company reported ($0.71) EPS for the quarter, beating the consensus estimate of ($0.76) by $0.05. On average, research analysts anticipate that Neumora Therapeutics, Inc. will post -1.48 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. FMR LLC purchased a new position in shares of Neumora Therapeutics during the 3rd quarter worth approximately $79,360,000. WELLCOME TRUST LTD THE as trustee of the WELLCOME TRUST purchased a new position in shares of Neumora Therapeutics during the 3rd quarter worth approximately $46,692,000. Avidity Partners Management LP purchased a new position in shares of Neumora Therapeutics during the 3rd quarter worth approximately $25,398,000. Johnson & Johnson purchased a new position in shares of Neumora Therapeutics during the 3rd quarter worth approximately $12,870,000. Finally, Goldman Sachs Group Inc. raised its stake in shares of Neumora Therapeutics by 704.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 592,422 shares of the company’s stock worth $10,101,000 after buying an additional 518,822 shares in the last quarter. 47.65% of the stock is owned by institutional investors and hedge funds.

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.