Neumora Therapeutics (NASDAQ:NMRA) Sets New 12-Month Low – Here’s Why

Neumora Therapeutics, Inc. (NASDAQ:NMRA)’s stock price hit a new 52-week low during trading on Thursday . The company traded as low as $1.83 and last traded at $1.97, with a volume of 44511355 shares traded. The stock had previously closed at $10.60.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Needham & Company LLC reissued a “buy” rating and issued a $23.00 price target on shares of Neumora Therapeutics in a research note on Thursday. HC Wainwright reissued a “buy” rating and issued a $30.00 target price on shares of Neumora Therapeutics in a research report on Monday, December 16th. JPMorgan Chase & Co. cut shares of Neumora Therapeutics from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $18.00 to $15.00 in a research note on Tuesday, November 5th. Finally, Royal Bank of Canada cut shares of Neumora Therapeutics from an “outperform” rating to a “sector perform” rating and cut their price target for the stock from $29.00 to $4.00 in a research report on Thursday. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Neumora Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $18.40.

Neumora Therapeutics Price Performance

The stock has a market cap of $318.28 million, a price-to-earnings ratio of -1.05 and a beta of 3.34. The business’s 50-day simple moving average is $10.89 and its two-hundred day simple moving average is $11.59.

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 period last year, the company earned ($1.14) earnings per share. Equities research analysts forecast that Neumora Therapeutics, Inc. will post -1.61 earnings per share for the current year.

Insider Transactions at Neumora Therapeutics

In other news, Director Matthew K. Fust sold 14,049 shares of Neumora Therapeutics stock in a transaction 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 sale, the director now directly owns 20,100 shares in the company, valued at $342,303. The trade was a 41.14 % decrease in their position. 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 dated Wednesday, October 9th. The shares were sold at an average price of $15.01, for a total transaction of $83,500.63. Following the completion of the transaction, the insider now owns 322,966 shares in the company, valued at approximately $4,847,719.66. The trade was a 1.69 % 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 Trading of Neumora Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC increased its position in shares of Neumora Therapeutics by 54.0% in the third quarter. Geode Capital Management LLC now owns 1,979,847 shares of the company’s stock valued at $26,159,000 after acquiring an additional 694,385 shares during the period. Barclays PLC raised its position in Neumora Therapeutics by 352.9% during the 3rd 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 during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Neumora Therapeutics by 139.7% in the 3rd 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 during the period. Point72 Asset Management L.P. purchased a new position in shares of Neumora Therapeutics during the third quarter valued at approximately $1,097,000. Finally, Callan Capital LLC raised its holdings in shares of 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 acquiring an additional 456,207 shares in the last quarter. Institutional investors own 47.65% of the company’s stock.

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.