Neumora Therapeutics (NASDAQ:NMRA) Shares Gap Down Following Insider Selling

Neumora Therapeutics, Inc. (NASDAQ:NMRA) shares gapped down prior to trading on Monday following insider selling activity. The stock had previously closed at $16.49, but opened at $16.00. Neumora Therapeutics shares last traded at $14.81, with a volume of 170,838 shares.

Specifically, Director Matthew K. Fust sold 14,049 shares of the firm’s stock in a transaction 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 sale, the director now directly owns 20,100 shares in the company, valued at approximately $342,303. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Analyst Ratings Changes

Several brokerages have recently weighed in on NMRA. Needham & Company LLC reissued a “buy” rating and set a $23.00 target price on shares of Neumora Therapeutics in a research report on Friday. HC Wainwright assumed coverage on shares of Neumora Therapeutics in a research note on Tuesday, October 1st. They set a “buy” rating and a $30.00 price target on the stock. Royal Bank of Canada restated an “outperform” rating and issued a $29.00 price objective on shares of Neumora Therapeutics in a research note on Wednesday, September 4th. Finally, Mizuho began coverage on Neumora Therapeutics in a research report on Monday, July 8th. They set an “outperform” rating and a $20.00 target price on the stock. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $22.83.

Neumora Therapeutics Trading Down 10.2 %

The stock has a market cap of $2.36 billion and a price-to-earnings ratio of -6.44. The stock’s 50 day moving average is $12.73 and its two-hundred day moving average is $11.33.

Neumora Therapeutics (NASDAQ:NMRA) last announced its earnings results on Tuesday, August 6th. The company reported ($0.37) earnings per share for the quarter, hitting the consensus estimate of ($0.37). On average, sell-side analysts predict that Neumora Therapeutics, Inc. will post -1.48 EPS for the current year.

Institutional Trading of Neumora Therapeutics

Hedge funds have recently added to or reduced their stakes in the stock. Amalgamated Bank lifted its holdings in shares of Neumora Therapeutics by 472.8% during the second quarter. Amalgamated Bank now owns 2,910 shares of the company’s stock worth $29,000 after purchasing an additional 2,402 shares during the period. Handelsbanken Fonder AB boosted its holdings in shares of Neumora Therapeutics by 35.0% in the third quarter. Handelsbanken Fonder AB now owns 26,600 shares of the company’s stock valued at $351,000 after acquiring an additional 6,900 shares in the last quarter. Quarry LP acquired a new position in shares of Neumora Therapeutics during the second quarter worth about $98,000. SkyOak Wealth LLC purchased a new position in Neumora Therapeutics during the second quarter worth about $147,000. Finally, Principal Financial Group Inc. purchased a new stake in Neumora Therapeutics in the 2nd quarter valued at approximately $166,000. 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.