Neumora Therapeutics (NASDAQ:NMRA) Shares Gap Down Following Insider Selling

Neumora Therapeutics, Inc. (NASDAQ:NMRA) gapped down prior to trading on Monday after an insider sold shares in the company. The stock had previously closed at $15.51, but opened at $15.14. Neumora Therapeutics shares last traded at $15.75, with a volume of 42,296 shares traded.

Specifically, insider Robert A. Lenz sold 5,563 shares of the business’s stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $15.01, for a total value of $83,500.63. Following the completion of the sale, the insider now owns 322,966 shares in the company, valued at approximately $4,847,719.66. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Wall Street Analyst Weigh In

NMRA has been the subject of a number of recent analyst reports. Needham & Company LLC restated a “buy” rating and set a $23.00 target price on shares of Neumora Therapeutics in a report on Thursday, September 12th. Royal Bank of Canada reissued an “outperform” rating and issued a $29.00 target price on shares of Neumora Therapeutics in a research note on Wednesday, September 4th. Mizuho initiated coverage on Neumora Therapeutics in a research note on Monday, July 8th. They issued an “outperform” rating and a $20.00 target price on the stock. Finally, HC Wainwright initiated coverage on Neumora Therapeutics in a research report on Tuesday, October 1st. They set a “buy” rating and a $30.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $22.83.

Neumora Therapeutics Stock Up 0.6 %

The business has a fifty day simple moving average of $12.33 and a two-hundred day simple moving average of $11.25. The company has a market cap of $2.49 billion and a P/E ratio of -6.09.

Neumora Therapeutics (NASDAQ:NMRA) last released its earnings results on Tuesday, August 6th. The company reported ($0.37) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.37). On average, equities analysts predict that Neumora Therapeutics, Inc. will post -1.48 EPS for the current fiscal year.

Hedge Funds Weigh In On Neumora Therapeutics

Institutional investors have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD purchased a new position in shares of Neumora Therapeutics in the 1st quarter worth approximately $10,354,000. Callan Capital LLC raised its position 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 purchasing an additional 456,207 shares in the last quarter. Rhumbline Advisers raised its position in Neumora Therapeutics by 488.3% during the 2nd quarter. Rhumbline Advisers now owns 103,258 shares of the company’s stock valued at $1,015,000 after purchasing an additional 85,706 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in Neumora Therapeutics by 79.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 111,828 shares of the company’s stock valued at $1,099,000 after purchasing an additional 49,527 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new position in shares of Neumora Therapeutics in the 2nd quarter valued at $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.