Neumora Therapeutics Target of Unusually High Options Trading (NASDAQ:NMRA)

Neumora Therapeutics, Inc. (NASDAQ:NMRA) saw some unusual options trading on Monday. Stock traders acquired 5,936 call options on the stock. This represents an increase of 45% compared to the average volume of 4,096 call options.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on NMRA shares. JPMorgan Chase & Co. downgraded shares of Neumora Therapeutics from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $18.00 to $15.00 in a report on Tuesday, November 5th. Needham & Company LLC reaffirmed a “buy” rating and set a $23.00 price objective on shares of Neumora Therapeutics in a research note on Thursday. Bank of America cut their price objective on shares of Neumora Therapeutics from $22.00 to $7.00 and set a “buy” rating on the stock in a research report on Monday. HC Wainwright restated a “buy” rating and issued a $30.00 target price on shares of Neumora Therapeutics in a report on Friday. Finally, Royal Bank of Canada downgraded shares of Neumora Therapeutics from an “outperform” rating to a “sector perform” rating and cut their price target for the company from $29.00 to $4.00 in a report on Thursday. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $16.50.

Insider Activity at Neumora Therapeutics

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

Institutional Investors Weigh In On Neumora Therapeutics

Several large investors have recently modified their holdings of the business. JPMorgan Chase & Co. increased its holdings in Neumora Therapeutics by 2.6% during the third quarter. JPMorgan Chase & Co. now owns 64,421 shares of the company’s stock valued at $851,000 after buying an additional 1,629 shares during the period. Amalgamated Bank boosted its position in Neumora Therapeutics by 472.8% during the 2nd quarter. Amalgamated Bank now owns 2,910 shares of the company’s stock valued at $29,000 after acquiring an additional 2,402 shares in the last quarter. Handelsbanken Fonder AB increased its holdings in shares of Neumora Therapeutics by 35.0% in the 3rd quarter. Handelsbanken Fonder AB now owns 26,600 shares of the company’s stock valued at $351,000 after acquiring an additional 6,900 shares during the period. Quarry LP bought a new position in shares of Neumora Therapeutics in the 2nd quarter worth $98,000. Finally, Intech Investment Management LLC purchased a new stake in shares of Neumora Therapeutics during the 3rd quarter worth $175,000. Institutional investors own 47.65% of the company’s stock.

Neumora Therapeutics Trading Up 6.5 %

Shares of NASDAQ NMRA traded up $0.14 during trading hours on Monday, reaching $2.31. The stock had a trading volume of 5,082,745 shares, compared to its average volume of 24,103,807. Neumora Therapeutics has a 52-week low of $1.83 and a 52-week high of $21.00. The firm has a market cap of $373.34 million, a price-to-earnings ratio of -1.24 and a beta of 3.34. The business’s fifty day moving average price is $10.47 and its two-hundred day moving average price is $11.51.

Neumora Therapeutics (NASDAQ:NMRA) last posted its quarterly earnings results 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 period last year, the company earned ($1.14) earnings per share. Equities research analysts anticipate that Neumora Therapeutics will post -1.61 earnings per share for the current fiscal year.

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.