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

Neumora Therapeutics, Inc. (NASDAQ:NMRA)’s share price gapped down prior to trading on Monday following insider selling activity. The stock had previously closed at $16.49, but opened at $16.00. Neumora Therapeutics shares last traded at $14.81, with a volume of 170,838 shares.

Specifically, Director Matthew K. Fust sold 14,049 shares of Neumora Therapeutics stock in a transaction dated 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 of the company’s stock, valued at approximately $342,303. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Wall Street Analysts Forecast Growth

NMRA has been the topic of several recent research reports. Needham & Company LLC reaffirmed a “buy” rating and set a $23.00 price objective on shares of Neumora Therapeutics in a report on Friday. Mizuho began coverage on Neumora Therapeutics in a research report on Monday, July 8th. They issued an “outperform” rating and a $20.00 price target for the company. HC Wainwright started coverage on Neumora Therapeutics in a research note on Tuesday, October 1st. They issued a “buy” rating and a $30.00 target price for the company. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $29.00 price target on shares of Neumora Therapeutics in a report on Wednesday, September 4th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $22.83.

Neumora Therapeutics Stock Down 14.8 %

The stock has a market cap of $2.24 billion and a P/E ratio of -5.49. The company has a 50-day simple moving average of $12.79 and a two-hundred day simple moving average of $11.33.

Neumora Therapeutics (NASDAQ:NMRA) last released its quarterly earnings data on Tuesday, August 6th. The company reported ($0.37) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.37). As a group, sell-side analysts forecast that Neumora Therapeutics, Inc. will post -1.48 earnings per share for the current fiscal year.

Institutional Trading of Neumora Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Artal Group S.A. raised its holdings in Neumora Therapeutics by 14.5% in the 1st quarter. Artal Group S.A. now owns 2,924,052 shares of the company’s stock worth $40,206,000 after purchasing an additional 371,350 shares in the last quarter. Price T Rowe Associates Inc. MD purchased a new position in shares of Neumora Therapeutics in the 1st quarter valued at approximately $10,354,000. Callan Capital LLC boosted its position 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 purchasing an additional 456,207 shares in the last quarter. Baker BROS. Advisors LP bought a new position in Neumora Therapeutics in the first quarter worth $8,715,000. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Neumora Therapeutics by 474.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 235,593 shares of the company’s stock valued at $2,316,000 after buying an additional 194,559 shares in the last quarter. 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.