Traders Purchase Large Volume of Put Options on Neumora Therapeutics (NASDAQ:NMRA)

Neumora Therapeutics, Inc. (NASDAQ:NMRA) saw some unusual options trading activity on Monday. Investors purchased 3,760 put options on the company. This represents an increase of approximately 47% compared to the average daily volume of 2,556 put options.

Insider Activity

In other Neumora Therapeutics news, Director Matthew K. Fust sold 14,049 shares of Neumora Therapeutics stock in a transaction on Friday, October 18th. The stock was sold at an average price of $17.03, for a total transaction of $239,254.47. Following the completion of the transaction, the director now directly owns 20,100 shares of the company’s stock, valued at approximately $342,303. This trade represents a 41.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Robert A. Lenz sold 5,563 shares of the company’s stock in a transaction dated 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 directly owns 322,966 shares in the company, valued at approximately $4,847,719.66. The trade was a 1.69 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 26.40% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC lifted its stake in Neumora Therapeutics by 54.0% in the third quarter. Geode Capital Management LLC now owns 1,979,847 shares of the company’s stock valued at $26,159,000 after buying an additional 694,385 shares during the period. State Street Corp increased its stake in shares of Neumora Therapeutics by 65.3% in the 3rd quarter. State Street Corp now owns 1,790,707 shares of the company’s stock valued at $23,655,000 after acquiring an additional 707,409 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Neumora Therapeutics by 139.7% in 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. Callan Capital LLC boosted its stake in Neumora Therapeutics by 222.6% during the 2nd quarter. Callan Capital LLC now owns 661,194 shares of the company’s stock worth $6,500,000 after acquiring an additional 456,207 shares during the last quarter. Finally, Auour Investments LLC bought a new position in Neumora Therapeutics during the 3rd quarter worth approximately $3,302,000. 47.65% of the stock is currently owned by institutional investors.

Neumora Therapeutics Trading Down 4.4 %

Shares of NASDAQ NMRA opened at $10.63 on Wednesday. Neumora Therapeutics has a 1 year low of $8.33 and a 1 year high of $21.00. The firm’s 50-day moving average is $11.52 and its 200-day moving average is $11.56. The firm has a market capitalization of $1.72 billion, a PE ratio of -5.68 and a beta of 3.34.

Neumora Therapeutics (NASDAQ:NMRA) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.45) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.06). During the same quarter in the previous year, the company earned ($1.14) EPS. As a group, equities research analysts anticipate that Neumora Therapeutics will post -1.61 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

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.