Neumora Therapeutics (NASDAQ:NMRA) Sees Strong Trading Volume

Shares of Neumora Therapeutics, Inc. (NASDAQ:NMRA) saw unusually-high trading volume on Thursday . Approximately 498,939 shares were traded 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.

Wall Street Analysts Forecast Growth

NMRA has been the subject of several recent analyst reports. William Blair restated an “outperform” rating on shares of Neumora Therapeutics in a research note on Friday, April 12th. JPMorgan Chase & Co. upped their price target on Neumora Therapeutics from $20.00 to $22.00 and gave the stock an “overweight” rating in a research note on Monday, March 18th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $31.00 target price on shares of Neumora Therapeutics in a research report on Thursday, March 28th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, Neumora Therapeutics presently has a consensus rating of “Moderate Buy” and an average target price of $22.57.

Neumora Therapeutics Trading Up 0.3 %

The stock has a 50 day moving average price of $13.88 and a two-hundred day moving average price of $14.04.

Neumora Therapeutics (NASDAQ:NMRA) last announced 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. As a group, research analysts forecast that Neumora Therapeutics, Inc. will post -1.48 EPS for the current fiscal year.

Institutional Trading of Neumora Therapeutics

A number of institutional investors have recently made changes to their positions in the company. FMR LLC acquired a new stake in shares of Neumora Therapeutics in the third quarter worth approximately $79,360,000. Avidity Partners Management LP boosted its stake in shares of 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 acquiring an additional 190,632 shares during the last quarter. Johnson & Johnson acquired a new stake in shares of Neumora Therapeutics in the third quarter worth approximately $12,870,000. Addis & Hill Inc acquired a new position in Neumora Therapeutics during the first quarter worth $4,187,000. Finally, Callan Capital LLC acquired a new position in Neumora Therapeutics during the first quarter worth $2,819,000. 47.65% of the stock is owned by institutional investors and hedge funds.

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.