Neumora Therapeutics (NASDAQ:NMRA) Sees Strong Trading Volume

Neumora Therapeutics, Inc. (NASDAQ:NMRA) saw an uptick in trading volume on Thursday . 498,939 shares traded hands during mid-day 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.

Analysts Set New Price Targets

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

Neumora Therapeutics Trading Up 0.3 %

The firm has a fifty day moving average price of $13.88 and a 200-day moving average price of $14.04.

Neumora Therapeutics (NASDAQ:NMRA) last posted its quarterly earnings data on Thursday, March 7th. The company reported ($0.71) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.76) by $0.05. Research analysts expect that Neumora Therapeutics, Inc. will post -1.48 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in NMRA. Johnson & Johnson purchased a new position in Neumora Therapeutics in the third quarter valued at about $12,870,000. FMR LLC purchased a new stake in shares of Neumora Therapeutics during the third quarter worth about $79,360,000. Avidity Partners Management LP purchased a new stake in shares of Neumora Therapeutics during the third quarter worth about $25,398,000. Soros Fund Management LLC purchased a new stake in shares of Neumora Therapeutics during the third quarter worth about $141,000. Finally, Laurion Capital Management LP purchased a new stake in shares of Neumora Therapeutics during the third quarter worth about $304,000. 47.65% of the stock is owned by hedge funds and other institutional investors.

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.