Neumora Therapeutics (NASDAQ:NMRA) Shares Gap Down to $13.50

Neumora Therapeutics, Inc. (NASDAQ:NMRA)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $13.50, but opened at $13.12. Neumora Therapeutics shares last traded at $13.39, with a volume of 41,176 shares trading hands.

Analyst Ratings Changes

A number of research firms have recently issued reports on NMRA. Mizuho began coverage on shares of Neumora Therapeutics in a research note on Monday, July 8th. They issued an “outperform” rating and a $20.00 price target on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $29.00 price target on shares of Neumora Therapeutics in a research note on Wednesday, September 4th. Needham & Company LLC reissued a “buy” rating and issued a $23.00 price target on shares of Neumora Therapeutics in a research note on Thursday, September 12th. Finally, HC Wainwright assumed coverage on shares of Neumora Therapeutics in a research note on Tuesday. They set a “buy” rating and a $30.00 target price on the stock. One analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $22.90.

Neumora Therapeutics Price Performance

The stock’s 50-day simple moving average is $11.93 and its 200 day simple moving average is $11.17.

Neumora Therapeutics (NASDAQ:NMRA) last announced its quarterly earnings data on Tuesday, August 6th. The company reported ($0.37) EPS for the quarter, meeting analysts’ consensus estimates of ($0.37). As a group, equities research analysts anticipate that Neumora Therapeutics, Inc. will post -1.51 earnings per share for the current year.

Insider Buying and Selling at Neumora Therapeutics

In related news, CFO Joshua Pinto sold 28,496 shares of Neumora Therapeutics stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $11.63, for a total transaction of $331,408.48. Following the sale, the chief financial officer now directly owns 210,469 shares in the company, valued at approximately $2,447,754.47. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Robert A. Lenz sold 30,788 shares of Neumora Therapeutics stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $11.81, for a total value of $363,606.28. Following 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 hyperlink. Also, CFO Joshua Pinto sold 28,496 shares of Neumora Therapeutics stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $11.63, for a total transaction of $331,408.48. Following the completion of the sale, the chief financial officer now directly 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 three months, insiders have sold 90,926 shares of company stock valued at $1,067,758. Insiders own 26.40% of the company’s stock.

Institutional Trading of Neumora Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Artal Group S.A. boosted its holdings in shares of Neumora Therapeutics by 14.5% in the first quarter. Artal Group S.A. now owns 2,924,052 shares of the company’s stock valued at $40,206,000 after acquiring an additional 371,350 shares in the last quarter. Avidity Partners Management LP boosted its holdings in Neumora Therapeutics by 10.6% during the fourth quarter. Avidity Partners Management LP now owns 1,990,632 shares of the company’s stock worth $33,940,000 after buying an additional 190,632 shares in the last quarter. Price T Rowe Associates Inc. MD purchased a new stake in Neumora Therapeutics during the first quarter worth about $10,354,000. Callan Capital LLC boosted its holdings in Neumora Therapeutics by 222.6% during the second quarter. Callan Capital LLC now owns 661,194 shares of the company’s stock worth $6,500,000 after buying an additional 456,207 shares in the last quarter. Finally, Baker BROS. Advisors LP purchased a new stake in Neumora Therapeutics during the first quarter worth about $8,715,000. 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.