Neumora Therapeutics (NASDAQ:NMRA) Shares Down 3% – Here’s What Happened

Neumora Therapeutics, Inc. (NASDAQ:NMRA)’s stock price fell 3% on Tuesday . The stock traded as low as $10.58 and last traded at $10.79. 68,888 shares changed hands during mid-day trading, a decline of 91% from the average session volume of 748,016 shares. The stock had previously closed at $11.12.

Analyst Ratings Changes

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

Neumora Therapeutics Stock Performance

The stock has a market cap of $1.71 billion, a PE ratio of -5.65 and a beta of 3.34. The business has a 50 day moving average price of $11.52 and a two-hundred day moving average price of $11.56.

Neumora Therapeutics (NASDAQ:NMRA) last announced its earnings results on Tuesday, November 12th. The company reported ($0.45) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.39) by ($0.06). During the same quarter in the previous year, the firm earned ($1.14) earnings per share. As a group, research analysts anticipate that Neumora Therapeutics, Inc. will post -1.61 earnings per share for the current year.

Insider Activity

In other news, insider Robert A. Lenz sold 5,563 shares of the business’s stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $15.01, for a total value of $83,500.63. Following the sale, the insider now owns 322,966 shares of the company’s stock, valued at $4,847,719.66. The trade was a 1.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Matthew K. Fust sold 14,049 shares of the firm’s stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $17.03, for a total transaction of $239,254.47. Following the completion of the transaction, the director now directly 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. Insiders own 26.40% of the company’s stock.

Institutional Investors Weigh In On Neumora Therapeutics

Institutional investors have recently made changes to their positions in the stock. Amalgamated Bank lifted its holdings in Neumora Therapeutics by 472.8% during the 2nd quarter. Amalgamated Bank now owns 2,910 shares of the company’s stock worth $29,000 after purchasing an additional 2,402 shares in the last quarter. Quarry LP purchased a new stake in Neumora Therapeutics in the 2nd quarter worth approximately $98,000. Intech Investment Management LLC bought a new position in Neumora Therapeutics in the 3rd quarter valued at $175,000. Ballentine Partners LLC purchased a new position in shares of Neumora Therapeutics during the 3rd quarter valued at $178,000. Finally, SkyOak Wealth LLC purchased a new stake in shares of Neumora Therapeutics in the second quarter worth $147,000. Hedge funds and other 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.