Neumora Therapeutics (NASDAQ:NMRA) Shares Down 5.6% – Here’s What Happened

Neumora Therapeutics, Inc. (NASDAQ:NMRA) traded down 5.6% on Monday . The stock traded as low as $10.23 and last traded at $10.23. 504,518 shares changed hands during trading, a decline of 31% from the average session volume of 729,501 shares. The stock had previously closed at $10.84.

Analyst Ratings Changes

A number of analysts have issued reports on NMRA shares. Royal Bank of Canada reissued an “outperform” rating and issued a $29.00 target price on shares of Neumora Therapeutics in a research report on Wednesday, September 4th. JPMorgan Chase & Co. lowered Neumora Therapeutics from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $18.00 to $15.00 in a report on Tuesday, November 5th. HC Wainwright reaffirmed a “buy” rating and set a $30.00 price objective on shares of Neumora Therapeutics in a report on Wednesday, November 13th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $23.00 target price on shares of Neumora Therapeutics in a research report on Wednesday, November 13th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $21.67.

Neumora Therapeutics Stock Performance

The firm has a market cap of $1.59 billion, a P/E ratio of -5.83 and a beta of 3.92. The firm has a 50 day simple moving average of $13.10 and a 200 day simple moving average of $11.45.

Neumora Therapeutics (NASDAQ:NMRA) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.45) EPS for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.06). During the same quarter in the prior year, the company posted ($1.14) EPS. Sell-side analysts predict that Neumora Therapeutics, Inc. will post -1.58 EPS for the current fiscal year.

Insider Activity

In related 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 completion of the sale, the director now owns 20,100 shares of the company’s stock, valued at approximately $342,303. This trade represents a 41.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Robert A. Lenz sold 5,563 shares of the business’s stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $15.01, for a total value of $83,500.63. Following the transaction, the insider now owns 322,966 shares of the company’s stock, 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 sold 110,538 shares of company stock worth $1,390,513 in the last three months. Corporate insiders own 26.40% of the company’s stock.

Institutional Investors Weigh In On Neumora Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of NMRA. Artal Group S.A. lifted its stake in Neumora Therapeutics by 14.5% during the first quarter. Artal Group S.A. now owns 2,924,052 shares of the company’s stock worth $40,206,000 after purchasing an additional 371,350 shares during the last quarter. Geode Capital Management LLC grew its holdings in Neumora Therapeutics by 54.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,979,847 shares of the company’s stock worth $26,159,000 after acquiring an additional 694,385 shares during the last quarter. State Street Corp increased its position in shares of Neumora Therapeutics by 65.3% in the third quarter. State Street Corp now owns 1,790,707 shares of the company’s stock valued at $23,655,000 after acquiring an additional 707,409 shares during the period. Price T Rowe Associates Inc. MD bought a new position in shares of Neumora Therapeutics during the first quarter valued at about $10,354,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Neumora Therapeutics by 139.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 698,255 shares of the company’s stock worth $9,224,000 after purchasing an additional 406,891 shares during the period. 47.65% of the stock is owned by hedge funds and other 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.