Neumora Therapeutics (NASDAQ:NMRA) Trading Down 4.5% – Time to Sell?

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

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $29.00 target price on shares of Neumora Therapeutics in a research note on Wednesday, September 4th. Needham & Company LLC reiterated a “buy” rating and set a $23.00 price objective on shares of Neumora Therapeutics in a research report on Friday, October 18th. Mizuho initiated coverage on Neumora Therapeutics in a research report on Monday, July 8th. They issued an “outperform” rating and a $20.00 target price on the stock. Finally, HC Wainwright began coverage on Neumora Therapeutics in a research report on Tuesday, October 1st. They set a “buy” rating and a $30.00 price target for the company. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Neumora Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $22.83.

Neumora Therapeutics Trading Down 5.6 %

The company has a market cap of $1.96 billion and a P/E ratio of -4.79. The company’s 50-day moving average price is $12.93 and its two-hundred day moving average price is $11.32.

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

Insider Activity

In related news, CFO Joshua Pinto sold 28,496 shares of Neumora Therapeutics stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $11.63, for a total value of $331,408.48. Following the transaction, the chief financial officer now owns 210,469 shares of the company’s stock, valued at approximately $2,447,754.47. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CFO Joshua Pinto sold 28,496 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $11.63, for a total value of $331,408.48. Following the completion of the transaction, the chief financial officer now owns 210,469 shares of the company’s stock, valued at approximately $2,447,754.47. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 sale, the insider now directly owns 339,205 shares in the company, valued at approximately $4,006,011.05. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 110,538 shares of company stock valued at $1,390,513 over the last three months. Insiders own 26.40% of the company’s stock.

Hedge Funds Weigh In On Neumora Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD acquired a new stake in shares of Neumora Therapeutics during the first quarter worth approximately $10,354,000. The Manufacturers Life Insurance Company boosted its stake in shares of Neumora Therapeutics by 79.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 111,828 shares of the company’s stock valued at $1,099,000 after buying an additional 49,527 shares during the period. Callan Capital LLC increased its stake in shares of Neumora Therapeutics by 222.6% in the second quarter. Callan Capital LLC now owns 661,194 shares of the company’s stock worth $6,500,000 after acquiring an additional 456,207 shares during the last quarter. Rhumbline Advisers increased its stake in shares of Neumora Therapeutics by 488.3% in the second quarter. Rhumbline Advisers now owns 103,258 shares of the company’s stock worth $1,015,000 after acquiring an additional 85,706 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of Neumora Therapeutics during the second quarter worth $566,000. Hedge funds and other 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.