Fmr LLC Trims Stake in Neumora Therapeutics, Inc. (NASDAQ:NMRA)

Fmr LLC lessened its stake in Neumora Therapeutics, Inc. (NASDAQ:NMRA) by 10.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,749,156 shares of the company’s stock after selling 873,312 shares during the period. Fmr LLC owned about 4.84% of Neumora Therapeutics worth $102,366,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in NMRA. Callan Capital LLC grew its position in 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 buying an additional 456,207 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Neumora Therapeutics by 139.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 698,255 shares of the company’s stock valued at $9,224,000 after acquiring an additional 406,891 shares during the period. Auour Investments LLC purchased a new position in shares of Neumora Therapeutics in the 3rd quarter valued at about $3,302,000. Cerity Partners LLC purchased a new position in Neumora Therapeutics during the third quarter worth approximately $3,209,000. Finally, Bank of New York Mellon Corp grew its holdings in Neumora Therapeutics by 474.1% in the second quarter. Bank of New York Mellon Corp now owns 235,593 shares of the company’s stock valued at $2,316,000 after purchasing an additional 194,559 shares during the period. Institutional investors and hedge funds own 47.65% of the company’s stock.

Neumora Therapeutics Stock Up 1.0 %

Shares of NMRA opened at $9.77 on Thursday. Neumora Therapeutics, Inc. has a 52-week low of $8.33 and a 52-week high of $21.00. The stock has a fifty day simple moving average of $12.49 and a two-hundred day simple moving average of $11.47. The company has a market capitalization of $1.58 billion, a PE ratio of -5.22 and a beta of 3.34.

Neumora Therapeutics (NASDAQ:NMRA) last released its quarterly earnings data 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 period in the previous year, the business posted ($1.14) EPS. As a group, equities analysts anticipate that Neumora Therapeutics, Inc. will post -1.61 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently commented on NMRA. HC Wainwright reissued a “buy” rating and set a $30.00 target price on shares of Neumora Therapeutics in a research note on Wednesday, November 13th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $29.00 price target on shares of Neumora Therapeutics in a research note on Friday, November 22nd. JPMorgan Chase & Co. downgraded Neumora Therapeutics from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $18.00 to $15.00 in a research note on Tuesday, November 5th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $23.00 target price on shares of Neumora Therapeutics in a research note on Wednesday, November 13th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Neumora Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $21.67.

Insider Activity

In related news, Director Matthew K. Fust sold 14,049 shares of Neumora Therapeutics 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 completion of the sale, the director now owns 20,100 shares in the company, valued at approximately $342,303. This trade represents a 41.14 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through 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 value of $83,500.63. Following the transaction, the insider now owns 322,966 shares in the company, 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. In the last 90 days, insiders have sold 50,400 shares of company stock valued at $686,361. 26.40% of the stock is currently owned by company insiders.

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.