Neumora Therapeutics (NASDAQ:NMRA) Sees Strong Trading Volume

Neumora Therapeutics, Inc. (NASDAQ:NMRA) shares saw an uptick in trading volume on Thursday . 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

Several brokerages have recently weighed in on NMRA. JPMorgan Chase & Co. upped their target price on Neumora Therapeutics from $20.00 to $22.00 and gave the stock an “overweight” rating in a research report on Monday, March 18th. William Blair restated an “outperform” rating on shares of Neumora Therapeutics in a report on Friday, April 12th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $31.00 price objective 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 assigned a buy rating to the stock. Based on data from MarketBeat.com, Neumora Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $22.57.

Neumora Therapeutics Trading 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 released its quarterly earnings results on Thursday, March 7th. The company reported ($0.71) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.76) by $0.05. As a group, equities analysts anticipate that Neumora Therapeutics, Inc. will post -1.48 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Neumora Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the stock. Auour Investments LLC bought a new position in Neumora Therapeutics during the 1st quarter worth approximately $1,445,000. Addis & Hill Inc acquired a new stake in shares of Neumora Therapeutics during the 1st quarter valued at approximately $4,187,000. Windmill Hill Asset Management Ltd bought a new position in Neumora Therapeutics during the first quarter worth $359,000. Avidity Partners Management LP boosted its holdings in Neumora Therapeutics by 10.6% in the fourth quarter. Avidity Partners Management LP now owns 1,990,632 shares of the company’s stock worth $33,940,000 after purchasing an additional 190,632 shares during the period. Finally, Tower Research Capital LLC TRC bought a new stake in Neumora Therapeutics during the fourth quarter valued at $44,000. Institutional investors 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.