Neumora Therapeutics (NASDAQ:NMRA) Trading Up 4% – Here’s What Happened

Neumora Therapeutics, Inc. (NASDAQ:NMRA)’s share price rose 4% on Thursday . The company traded as high as $11.22 and last traded at $11.20. Approximately 140,372 shares traded hands during trading, a decline of 81% from the average daily volume of 722,081 shares. The stock had previously closed at $10.77.

Analyst Ratings Changes

A number of research firms have commented on NMRA. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $29.00 target price on shares of Neumora Therapeutics in a research report on Wednesday, September 4th. HC Wainwright reiterated a “buy” rating and set a $30.00 price objective on shares of Neumora Therapeutics in a research report on Wednesday. JPMorgan Chase & Co. cut Neumora Therapeutics from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $18.00 to $15.00 in a research report on Tuesday, November 5th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $23.00 price objective on shares of Neumora Therapeutics in a research note on Wednesday. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $21.67.

Neumora Therapeutics Price Performance

The company has a market cap of $1.87 billion, a PE ratio of -5.76 and a beta of 3.92. The stock’s 50-day moving average is $13.07 and its 200 day moving average is $11.41.

Neumora Therapeutics (NASDAQ:NMRA) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.45) EPS for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.07). During the same quarter in the prior year, the firm posted ($1.14) earnings per share. On average, analysts expect that Neumora Therapeutics, Inc. will post -1.48 EPS for the current year.

Insider Activity at Neumora Therapeutics

In related news, Director Matthew K. Fust sold 14,049 shares of the company’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 value of $239,254.47. Following the sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Joshua Pinto sold 31,642 shares of the firm’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $11.78, for a total value of $372,742.76. Following the sale, the chief financial officer now directly owns 154,658 shares in the company, valued at approximately $1,821,871.24. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Matthew K. Fust sold 14,049 shares of the business’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 owns 20,100 shares of the company’s stock, valued at approximately $342,303. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 110,538 shares of company stock valued at $1,390,513 in the last ninety days. Company insiders own 26.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in NMRA. Amalgamated Bank lifted its holdings in shares of Neumora Therapeutics by 472.8% in the 2nd quarter. Amalgamated Bank now owns 2,910 shares of the company’s stock valued at $29,000 after purchasing an additional 2,402 shares during the last quarter. Quarry LP purchased a new stake in shares of Neumora Therapeutics in the 2nd quarter valued at about $98,000. Intech Investment Management LLC purchased a new stake in shares of Neumora Therapeutics in the 3rd quarter valued at about $175,000. Ballentine Partners LLC purchased a new stake in shares of Neumora Therapeutics in the 3rd quarter valued at about $178,000. Finally, SkyOak Wealth LLC purchased a new stake in shares of Neumora Therapeutics in the 2nd quarter valued at about $147,000. 47.65% of the stock is owned by institutional investors and hedge funds.

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.