Neumora Therapeutics (NASDAQ:NMRA) Trading Down 4.5% – Should You Sell?

Neumora Therapeutics, Inc. (NASDAQ:NMRA)’s share price fell 4.5% during trading on Friday . The stock traded as low as $12.35 and last traded at $12.41. 806,385 shares traded hands during trading, an increase of 16% from the average session volume of 693,138 shares. The stock had previously closed at $13.00.

Analyst Upgrades and Downgrades

NMRA has been the topic of several research reports. HC Wainwright initiated 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 reiterated an “outperform” rating and issued a $29.00 price target on shares of Neumora Therapeutics in a research note on Wednesday, September 4th. Needham & Company LLC restated a “buy” rating and set a $23.00 price objective on shares of Neumora Therapeutics in a report on Friday, October 18th. Finally, Mizuho initiated coverage on Neumora Therapeutics in a research report on Monday, July 8th. They set an “outperform” rating and a $20.00 price target on the stock. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Neumora Therapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $22.83.

Neumora Therapeutics Trading Down 6.0 %

The business has a 50-day moving average price of $12.91 and a 200-day moving average price of $11.36. The stock has a market cap of $1.96 billion and a PE ratio of -5.05.

Neumora Therapeutics (NASDAQ:NMRA) last released its earnings results on Tuesday, August 6th. The company reported ($0.37) EPS for the quarter, hitting analysts’ consensus estimates of ($0.37). Equities analysts expect that Neumora Therapeutics, Inc. will post -1.48 earnings per share for the current year.

Insiders Place Their Bets

In other Neumora Therapeutics news, Director Matthew K. Fust sold 14,049 shares of the company’s 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 transaction, the director now directly owns 20,100 shares in the company, valued at $342,303. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Robert A. Lenz sold 30,788 shares of the business’s 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 completion of the transaction, the insider now owns 339,205 shares in the company, valued at approximately $4,006,011.05. The trade was 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 the SEC website. Also, Director Matthew K. Fust sold 14,049 shares of the stock in a transaction that occurred on Friday, October 18th. The shares were 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 owns 20,100 shares in the company, valued at $342,303. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 110,538 shares of company stock valued at $1,390,513 in the last ninety days. 26.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Neumora Therapeutics

Several institutional investors have recently modified their holdings of the stock. Ballentine Partners LLC acquired a new stake in Neumora Therapeutics during the 3rd quarter worth $178,000. Clarius Group LLC acquired a new stake in shares of Neumora Therapeutics in the 3rd quarter valued at about $224,000. Handelsbanken Fonder AB grew its stake in Neumora Therapeutics by 35.0% during the 3rd quarter. Handelsbanken Fonder AB now owns 26,600 shares of the company’s stock worth $351,000 after buying an additional 6,900 shares during the last quarter. Quarry LP acquired a new position in Neumora Therapeutics during the second quarter worth approximately $98,000. Finally, The Manufacturers Life Insurance Company increased its position in 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 buying an additional 49,527 shares during the period. 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.