Traders Buy High Volume of Call Options on Neumora Therapeutics (NASDAQ:NMRA)

Neumora Therapeutics, Inc. (NASDAQ:NMRA) saw some unusual options trading activity on Monday. Investors bought 5,936 call options on the company. This represents an increase of 45% compared to the typical daily volume of 4,096 call options.

Neumora Therapeutics Stock Up 4.0 %

NMRA opened at $2.58 on Wednesday. The business’s fifty day simple moving average is $10.10 and its 200 day simple moving average is $11.42. Neumora Therapeutics has a 52 week low of $1.83 and a 52 week high of $21.00. The stock has a market cap of $416.83 million, a PE ratio of -1.38 and a beta of 2.71.

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 analysts’ consensus estimates of ($0.39) by ($0.06). During the same quarter in the prior year, the firm earned ($1.14) earnings per share. As a group, equities analysts anticipate that Neumora Therapeutics will post -1.61 earnings per share for the current year.

Analysts Set New Price Targets

NMRA has been the topic of several analyst reports. Needham & Company LLC reiterated a “buy” rating and set a $23.00 price target on shares of Neumora Therapeutics in a research report on Thursday, January 2nd. HC Wainwright reaffirmed a “buy” rating and set a $30.00 target price on shares of Neumora Therapeutics in a report on Friday, January 3rd. JPMorgan Chase & Co. downgraded shares of Neumora Therapeutics from an “overweight” rating to a “neutral” rating and cut their price target for the company from $18.00 to $15.00 in a report on Tuesday, November 5th. Bank of America decreased their price target on shares of Neumora Therapeutics from $22.00 to $7.00 and set a “buy” rating on the stock in a report on Monday. Finally, Royal Bank of Canada lowered Neumora Therapeutics from an “outperform” rating to a “sector perform” rating and dropped their price objective for the company from $29.00 to $4.00 in a research note on Thursday, January 2nd. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $16.50.

Insider Activity at Neumora Therapeutics

In related news, 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 sale, the director now directly owns 20,100 shares in the company, valued at approximately $342,303. The trade was a 41.14 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 26.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Neumora Therapeutics

A number of institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC lifted its stake in Neumora Therapeutics by 54.0% in the third quarter. Geode Capital Management LLC now owns 1,979,847 shares of the company’s stock worth $26,159,000 after purchasing an additional 694,385 shares during the last quarter. Barclays PLC increased its holdings in shares of Neumora Therapeutics by 352.9% in the third quarter. Barclays PLC now owns 129,210 shares of the company’s stock worth $1,708,000 after buying an additional 100,678 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Neumora Therapeutics by 139.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 698,255 shares of the company’s stock valued at $9,224,000 after acquiring an additional 406,891 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in Neumora Therapeutics during the 3rd quarter valued at about $1,097,000. Finally, Callan Capital LLC boosted its holdings in Neumora Therapeutics by 222.6% during the 2nd quarter. Callan Capital LLC now owns 661,194 shares of the company’s stock valued at $6,500,000 after acquiring an additional 456,207 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.