Neumora Therapeutics (NASDAQ:NMRA) Trading Down 4.3% – Here’s Why

Neumora Therapeutics, Inc. (NASDAQ:NMRA) shares traded down 4.3% on Tuesday . The company traded as low as $10.48 and last traded at $10.58. 432,580 shares traded hands during mid-day trading, a decline of 42% from the average session volume of 749,277 shares. The stock had previously closed at $11.06.

Analyst Ratings Changes

NMRA has been the topic of several recent research reports. JPMorgan Chase & Co. lowered shares of Neumora Therapeutics from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $18.00 to $15.00 in a report on Tuesday, November 5th. HC Wainwright reissued a “buy” rating and issued a $30.00 target price on shares of Neumora Therapeutics in a research note on Monday, December 16th. Needham & Company LLC restated a “buy” rating and set a $23.00 price target on shares of Neumora Therapeutics in a research report on Wednesday, November 13th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $29.00 price objective on shares of Neumora Therapeutics in a research report on Friday, November 22nd. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $23.40.

Neumora Therapeutics Stock Down 3.4 %

The company’s fifty day simple moving average is $11.07 and its 200 day simple moving average is $11.59. The firm has a market capitalization of $1.73 billion, a PE ratio of -5.71 and a beta of 3.34.

Neumora Therapeutics (NASDAQ:NMRA) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.45) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.06). During the same period in the prior year, the firm posted ($1.14) EPS. Equities research analysts forecast that Neumora Therapeutics, Inc. will post -1.61 EPS for the current year.

Insider Activity at Neumora Therapeutics

In other news, insider Robert A. Lenz sold 5,563 shares of the firm’s stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $15.01, for a total value of $83,500.63. Following the transaction, the insider now owns 322,966 shares of the company’s stock, valued at $4,847,719.66. This trade represents a 1.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Matthew K. Fust sold 14,049 shares of the business’s stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $17.03, for a total value of $239,254.47. Following the transaction, the director now owns 20,100 shares of the company’s stock, valued at approximately $342,303. This trade represents a 41.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 26.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Neumora Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of NMRA. Geode Capital Management LLC grew its holdings in Neumora Therapeutics by 54.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,979,847 shares of the company’s stock valued at $26,159,000 after buying an additional 694,385 shares in the last quarter. Barclays PLC grew its holdings in shares of Neumora Therapeutics by 352.9% in the third quarter. Barclays PLC now owns 129,210 shares of the company’s stock valued at $1,708,000 after purchasing an additional 100,678 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Neumora Therapeutics by 139.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 698,255 shares of the company’s stock worth $9,224,000 after purchasing an additional 406,891 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in Neumora Therapeutics in the third quarter worth $1,097,000. Finally, Callan Capital LLC raised its stake in Neumora Therapeutics by 222.6% during the second quarter. Callan Capital LLC now owns 661,194 shares of the company’s stock valued at $6,500,000 after purchasing an additional 456,207 shares in the last quarter. Institutional investors own 47.65% of the company’s stock.

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.