Neumora Therapeutics (NASDAQ:NMRA) Stock Price Down 3% – Should You Sell?

Neumora Therapeutics, Inc. (NASDAQ:NMRA) dropped 3% during mid-day trading on Tuesday . The company traded as low as $10.58 and last traded at $10.79. Approximately 68,888 shares were traded during mid-day trading, a decline of 91% from the average daily volume of 748,016 shares. The stock had previously closed at $11.12.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on NMRA. Royal Bank of Canada reaffirmed an “outperform” rating and set a $29.00 target price on shares of Neumora Therapeutics in a report on Friday, November 22nd. JPMorgan Chase & Co. lowered Neumora Therapeutics from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $18.00 to $15.00 in a research note on Tuesday, November 5th. HC Wainwright reiterated a “buy” rating and set a $30.00 target price on shares of Neumora Therapeutics in a research report on Monday, December 16th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $23.00 price target on shares of Neumora Therapeutics in a research note on Wednesday, November 13th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Neumora Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $23.40.

Neumora Therapeutics Trading Down 4.4 %

The company has a market cap of $1.72 billion, a P/E ratio of -5.68 and a beta of 3.34. The company has a 50 day moving average price of $11.29 and a 200-day moving average price of $11.56.

Neumora Therapeutics (NASDAQ:NMRA) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.45) earnings per share for the quarter, missing the consensus estimate of ($0.39) by ($0.06). During the same quarter last year, the business earned ($1.14) earnings per share. Equities analysts expect that Neumora Therapeutics, Inc. will post -1.61 earnings per share for the current year.

Insider Activity at Neumora Therapeutics

In other Neumora Therapeutics news, Director Matthew K. Fust sold 14,049 shares of the firm’s stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $17.03, for a total value of $239,254.47. Following the sale, the director now owns 20,100 shares in the company, valued at $342,303. This trade represents a 41.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Robert A. Lenz sold 5,563 shares of the company’s stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $15.01, for a total transaction of $83,500.63. Following the transaction, the insider now owns 322,966 shares of the company’s stock, valued at $4,847,719.66. This trade represents a 1.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 26.40% of the stock is currently owned by insiders.

Institutional Trading of Neumora Therapeutics

Hedge funds have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its stake in shares of Neumora Therapeutics by 139.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 698,255 shares of the company’s stock valued at $9,224,000 after buying an additional 406,891 shares during the period. Point72 Asset Management L.P. acquired a new position in Neumora Therapeutics in the 3rd quarter valued at approximately $1,097,000. Callan Capital LLC raised its stake in shares of Neumora Therapeutics by 222.6% during the second 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 last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Neumora Therapeutics by 79.5% during the second quarter. The Manufacturers Life Insurance Company now owns 111,828 shares of the company’s stock worth $1,099,000 after purchasing an additional 49,527 shares during the period. Finally, Wexford Capital LP grew its stake in shares of Neumora Therapeutics by 90.1% in the third quarter. Wexford Capital LP now owns 217,879 shares of the company’s stock worth $2,878,000 after purchasing an additional 103,285 shares during the last quarter. 47.65% of the stock is owned by institutional investors and hedge funds.

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.