Neumora Therapeutics (NASDAQ:NMRA) Trading Down 5.6% – Here’s What Happened

Neumora Therapeutics, Inc. (NASDAQ:NMRA) dropped 5.6% on Monday . The company traded as low as $10.23 and last traded at $10.23. 504,518 shares traded hands during mid-day trading, a decline of 31% from the average session volume of 729,501 shares. The stock had previously closed at $10.84.

Analysts Set New Price Targets

NMRA has been the topic of a number of research analyst reports. Needham & Company LLC reissued a “buy” rating and issued a $23.00 price target on shares of Neumora Therapeutics in a report on Wednesday, November 13th. HC Wainwright restated a “buy” rating and set a $30.00 target price on shares of Neumora Therapeutics in a research report on Wednesday, November 13th. JPMorgan Chase & Co. downgraded shares of Neumora Therapeutics from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $18.00 to $15.00 in a report on Tuesday, November 5th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $29.00 price target on shares of Neumora Therapeutics in a research note on Wednesday, September 4th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.67.

Neumora Therapeutics Stock Down 0.7 %

The company has a market capitalization of $1.58 billion, a P/E ratio of -5.26 and a beta of 3.92. The company has a 50 day simple moving average of $13.04 and a two-hundred day simple moving average of $11.46.

Neumora Therapeutics (NASDAQ:NMRA) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.45) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.06). During the same period in the prior year, the company posted ($1.14) earnings per share. As a group, research analysts expect that Neumora Therapeutics, Inc. will post -1.58 EPS for the current fiscal year.

Insider Buying and Selling

In other Neumora Therapeutics news, Director Matthew K. Fust sold 14,049 shares of the stock in a transaction on Friday, October 18th. The stock was sold at an average price of $17.03, for a total value of $239,254.47. Following the sale, the director now owns 20,100 shares in the company, valued at $342,303. This trade represents a 41.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Robert A. Lenz sold 5,563 shares of the business’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $15.01, for a total transaction of $83,500.63. Following the sale, the insider now directly owns 322,966 shares of the company’s stock, valued at $4,847,719.66. This represents a 1.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, 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 have recently modified their holdings of the company. Price T Rowe Associates Inc. MD acquired a new position in Neumora Therapeutics during the first quarter valued at $10,354,000. Callan Capital LLC grew its stake in Neumora Therapeutics by 222.6% in the 2nd quarter. Callan Capital LLC now owns 661,194 shares of the company’s stock valued at $6,500,000 after acquiring an additional 456,207 shares during the period. The Manufacturers Life Insurance Company increased its stake in shares of Neumora Therapeutics by 79.5% during the second quarter. The Manufacturers Life Insurance Company now owns 111,828 shares of the company’s stock worth $1,099,000 after purchasing an additional 49,527 shares in the last quarter. Rhumbline Advisers increased its stake in Neumora Therapeutics by 488.3% during the 2nd quarter. Rhumbline Advisers now owns 103,258 shares of the company’s stock worth $1,015,000 after buying an additional 85,706 shares in the last quarter. Finally, Auour Investments LLC purchased a new position in Neumora Therapeutics in the 3rd quarter valued at $3,302,000. 47.65% of the stock is currently 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.