Neumora Therapeutics (NASDAQ:NMRA) Shares Down 4.3% – What’s Next?

Neumora Therapeutics, Inc. (NASDAQ:NMRA)’s stock price was down 4.3% during trading on Tuesday . The stock traded as low as $10.48 and last traded at $10.58. Approximately 432,580 shares traded hands during trading, a decline of 42% from the average daily volume of 749,277 shares. The stock had previously closed at $11.06.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $30.00 price target on shares of Neumora Therapeutics in a research report on Monday, December 16th. Needham & Company LLC reissued a “buy” rating and issued a $23.00 price target 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 cut their price objective for the stock from $18.00 to $15.00 in a report on Tuesday, November 5th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $29.00 target price on shares of Neumora Therapeutics in a report on Friday, November 22nd. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $23.40.

Neumora Therapeutics Trading Down 3.4 %

The stock’s 50-day moving average price is $11.07 and its two-hundred day moving average price is $11.59. The stock has a market capitalization of $1.73 billion, a P/E ratio of -5.71 and a beta of 3.34.

Neumora Therapeutics (NASDAQ:NMRA) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.45) earnings per share for the quarter, missing the consensus estimate of ($0.39) by ($0.06). During the same quarter last year, the company earned ($1.14) earnings per share. On average, equities research analysts predict that Neumora Therapeutics, Inc. will post -1.61 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Matthew K. Fust sold 14,049 shares of the stock in a transaction dated 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 owns 20,100 shares of the company’s stock, valued at approximately $342,303. This represents a 41.14 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Robert A. Lenz sold 5,563 shares of Neumora Therapeutics stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $15.01, for a total value of $83,500.63. Following the transaction, the insider now directly owns 322,966 shares of the company’s stock, valued at $4,847,719.66. The trade was a 1.69 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 26.40% of the company’s stock.

Hedge Funds Weigh In On Neumora Therapeutics

A number of large investors have recently modified their holdings of the company. Amalgamated Bank lifted its stake in Neumora Therapeutics by 472.8% in 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 position in Neumora Therapeutics during the second quarter worth about $98,000. Intech Investment Management LLC bought a new position in Neumora Therapeutics in the 3rd quarter worth about $175,000. Ballentine Partners LLC bought a new position in Neumora Therapeutics in the 3rd quarter worth about $178,000. Finally, SkyOak Wealth LLC bought a new stake in shares of Neumora Therapeutics during the 2nd quarter valued at about $147,000. 47.65% of the stock is currently owned by institutional investors.

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.