Neumora Therapeutics (NASDAQ:NMRA) Shares Down 8.1% – Time to Sell?

Neumora Therapeutics, Inc. (NASDAQ:NMRA)’s share price was down 8.1% during trading on Tuesday . The company traded as low as $12.31 and last traded at $12.54. Approximately 58,258 shares changed hands during mid-day trading, a decline of 92% from the average daily volume of 715,389 shares. The stock had previously closed at $13.64.

Analyst Ratings Changes

A number of research firms recently commented on NMRA. Royal Bank of Canada reiterated an “outperform” rating and issued a $29.00 price objective on shares of Neumora Therapeutics in a report on Wednesday, September 4th. HC Wainwright started coverage on Neumora Therapeutics in a research note on Tuesday, October 1st. They issued a “buy” rating and a $30.00 price target for the company. Needham & Company LLC reissued a “buy” rating and issued a $23.00 price objective on shares of Neumora Therapeutics in a research note on Friday, October 18th. Finally, JPMorgan Chase & Co. downgraded Neumora Therapeutics from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $18.00 to $15.00 in a research report on Tuesday, November 5th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $21.67.

Neumora Therapeutics Stock Down 17.1 %

The business’s 50-day moving average is $13.07 and its 200-day moving average is $11.40. The company has a market capitalization of $1.81 billion, a price-to-earnings ratio of -5.33 and a beta of 3.92.

Insider Buying and Selling

In related news, insider Robert A. Lenz sold 30,788 shares of Neumora Therapeutics stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $11.81, for a total transaction of $363,606.28. Following the sale, the insider now directly owns 339,205 shares in the company, valued at $4,006,011.05. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Robert A. Lenz sold 30,788 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $11.81, for a total transaction of $363,606.28. Following the completion of the transaction, the insider now owns 339,205 shares of the company’s stock, valued at approximately $4,006,011.05. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Joshua Pinto sold 31,642 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $11.78, for a total transaction of $372,742.76. Following the completion of the sale, the chief financial officer now directly owns 154,658 shares in the company, valued at $1,821,871.24. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 110,538 shares of company stock valued at $1,390,513. Company insiders own 26.40% of the company’s stock.

Institutional Trading of Neumora Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD acquired a new position in Neumora Therapeutics in the first quarter valued at approximately $10,354,000. Baker BROS. Advisors LP bought a new stake in shares of Neumora Therapeutics in the 1st quarter worth $8,715,000. Callan Capital LLC lifted its position 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. Charles Schwab Investment Management Inc. lifted its position in shares of 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 buying an additional 406,891 shares in the last quarter. Finally, Artal Group S.A. boosted its holdings in shares of Neumora Therapeutics by 14.5% in the first quarter. Artal Group S.A. now owns 2,924,052 shares of the company’s stock valued at $40,206,000 after purchasing an additional 371,350 shares during the period. 47.65% of the stock is owned by institutional investors.

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.