Neumora Therapeutics (NASDAQ:NMRA) Stock Price Down 3.1%

Shares of Neumora Therapeutics, Inc. (NASDAQ:NMRA) were down 3.1% on Tuesday . The company traded as low as $12.22 and last traded at $12.39. Approximately 145,829 shares changed hands during mid-day trading, a decline of 77% from the average daily volume of 628,826 shares. The stock had previously closed at $12.78.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Mizuho assumed coverage on shares of Neumora Therapeutics in a research note on Monday, July 8th. They set an “outperform” rating and a $20.00 target price on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $29.00 price objective on shares of Neumora Therapeutics in a research report on Wednesday, September 4th. Finally, Needham & Company LLC reissued a “buy” rating and set a $23.00 price objective on shares of Neumora Therapeutics in a research report on Thursday, September 12th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $22.11.

Neumora Therapeutics Trading Down 3.3 %

The firm has a 50-day simple moving average of $11.77 and a two-hundred day simple moving average of $11.31.

Neumora Therapeutics (NASDAQ:NMRA) last posted its earnings results on Tuesday, August 6th. The company reported ($0.37) EPS for the quarter, hitting analysts’ consensus estimates of ($0.37). On average, sell-side analysts forecast that Neumora Therapeutics, Inc. will post -1.51 earnings per share for the current fiscal year.

Insider Activity at Neumora Therapeutics

In other Neumora Therapeutics news, insider Robert A. Lenz sold 30,788 shares of Neumora Therapeutics 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 transaction, the insider now directly owns 339,205 shares of the company’s stock, valued at approximately $4,006,011.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Neumora Therapeutics news, insider Robert A. Lenz sold 30,788 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $11.81, for a total value of $363,606.28. Following the completion of the sale, the insider now owns 339,205 shares of the company’s stock, valued at $4,006,011.05. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 completion of the transaction, the chief financial officer now owns 210,469 shares in the company, valued at approximately $2,447,754.47. The disclosure for this sale can be found here. In the last 90 days, insiders sold 90,926 shares of company stock valued at $1,067,758. 26.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in NMRA. Amalgamated Bank raised its holdings in shares of Neumora Therapeutics by 472.8% during the second 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 bought a new stake in shares of Neumora Therapeutics during the second quarter valued at approximately $98,000. SkyOak Wealth LLC purchased a new position in Neumora Therapeutics during the second quarter valued at $147,000. Principal Financial Group Inc. purchased a new stake in Neumora Therapeutics in the 2nd quarter worth $166,000. Finally, SG Americas Securities LLC bought a new position in shares of Neumora Therapeutics during the 2nd quarter valued at about $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.