Neumora Therapeutics, Inc. (NASDAQ:NMRA) Stake Trimmed by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lowered its stake in Neumora Therapeutics, Inc. (NASDAQ:NMRA) by 1.8% during the third quarter, HoldingsChannel reports. The firm owned 109,802 shares of the company’s stock after selling 2,026 shares during the period. The Manufacturers Life Insurance Company’s holdings in Neumora Therapeutics were worth $1,450,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Amalgamated Bank increased its stake in Neumora Therapeutics by 472.8% in the 2nd quarter. Amalgamated Bank now owns 2,910 shares of the company’s stock worth $29,000 after purchasing an additional 2,402 shares in the last quarter. Quarry LP acquired a new stake in Neumora Therapeutics during the 2nd quarter worth about $98,000. Intech Investment Management LLC acquired a new stake in Neumora Therapeutics during the 3rd quarter worth about $175,000. Ballentine Partners LLC acquired a new stake in Neumora Therapeutics during the 3rd quarter worth about $178,000. Finally, SkyOak Wealth LLC acquired a new stake in Neumora Therapeutics during the 2nd quarter worth about $147,000. Hedge funds and other institutional investors own 47.65% of the company’s stock.

Neumora Therapeutics Price Performance

Shares of Neumora Therapeutics stock opened at $10.39 on Wednesday. The firm has a market cap of $1.68 billion, a price-to-earnings ratio of -5.48 and a beta of 3.37. Neumora Therapeutics, Inc. has a 52-week low of $8.33 and a 52-week high of $21.00. The stock has a 50-day simple moving average of $12.31 and a 200-day simple moving average of $11.49.

Neumora Therapeutics (NASDAQ:NMRA) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.45) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.39) by ($0.06). During the same quarter last year, the business posted ($1.14) earnings per share. As a group, equities research analysts predict that Neumora Therapeutics, Inc. will post -1.61 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on NMRA. HC Wainwright restated a “buy” rating and set a $30.00 price objective on shares of Neumora Therapeutics in a research report on Wednesday, November 13th. Royal Bank of Canada restated an “outperform” rating and set a $29.00 price objective on shares of Neumora Therapeutics in a research report on Friday, November 22nd. 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 research report on Tuesday, November 5th. Finally, Needham & Company LLC restated a “buy” rating and set a $23.00 price objective on shares of Neumora Therapeutics in a research report on Wednesday, November 13th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $21.67.

Insider Activity at Neumora Therapeutics

In related news, Director Matthew K. Fust sold 14,049 shares of the firm’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 transaction, the director now directly owns 20,100 shares of the company’s stock, valued at approximately $342,303. This trade represents a 41.14 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Robert A. Lenz sold 30,788 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $11.81, for a total value of $363,606.28. Following the completion of the transaction, the insider now directly owns 339,205 shares in the company, valued at $4,006,011.05. The trade was a 8.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 50,400 shares of company stock valued at $686,361. Corporate insiders own 26.40% 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.