Neumora Therapeutics Sees Unusually High Options Volume (NASDAQ:NMRA)

Neumora Therapeutics, Inc. (NASDAQ:NMRA) saw unusually large options trading on Thursday. Traders bought 23,875 call options on the company. This is an increase of approximately 1,102% compared to the average volume of 1,987 call options.

Analyst Ratings Changes

NMRA has been the subject of a number of recent research reports. HC Wainwright restated a “buy” rating and set a $30.00 target price on shares of Neumora Therapeutics in a research report on Wednesday, November 13th. JPMorgan Chase & Co. downgraded Neumora Therapeutics from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $18.00 to $15.00 in a research report on Tuesday, November 5th. Needham & Company LLC restated a “buy” rating and set a $23.00 target price on shares of Neumora Therapeutics in a research report on Wednesday, November 13th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $29.00 price objective on shares of Neumora Therapeutics in a report on Friday, November 22nd. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Neumora Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $23.40.

Neumora Therapeutics Trading Down 2.5 %

NASDAQ NMRA opened at $10.32 on Friday. The stock has a 50-day simple moving average of $12.03 and a 200 day simple moving average of $11.50. The company has a market capitalization of $1.67 billion, a PE ratio of -5.52 and a beta of 3.34. Neumora Therapeutics has a 12 month low of $8.33 and a 12 month high of $21.00.

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 period in the prior year, the company posted ($1.14) earnings per share. As a group, sell-side analysts predict that Neumora Therapeutics will post -1.61 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Robert A. Lenz sold 5,563 shares of the business’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 completion of the sale, the insider now owns 322,966 shares in the company, valued at $4,847,719.66. The trade was a 1.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Matthew K. Fust sold 14,049 shares of the business’s stock in a transaction 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 sale, the director now owns 20,100 shares of the company’s stock, valued at approximately $342,303. The trade was a 41.14 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 50,400 shares of company stock valued at $686,361. 26.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Neumora Therapeutics

Large investors have recently modified their holdings of the business. SG Americas Securities LLC acquired a new position in shares of Neumora Therapeutics during the second quarter worth about $566,000. Bank of New York Mellon Corp boosted its position in shares of Neumora Therapeutics by 474.1% during the second quarter. Bank of New York Mellon Corp now owns 235,593 shares of the company’s stock worth $2,316,000 after buying an additional 194,559 shares during the period. Principal Financial Group Inc. acquired a new position in Neumora Therapeutics during the second quarter valued at approximately $166,000. Rhumbline Advisers boosted its position in Neumora Therapeutics by 488.3% during the second 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 during the last quarter. Finally, TD Asset Management Inc boosted its position in Neumora Therapeutics by 31.6% during the second quarter. TD Asset Management Inc now owns 144,994 shares of the company’s stock valued at $1,425,000 after purchasing an additional 34,800 shares during the last quarter. 47.65% of the stock is currently owned by institutional investors.

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.