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

Neumora Therapeutics, Inc. (NASDAQ:NMRA) gapped down before the market opened 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 changing hands.

Specifically, 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 directly owns 20,100 shares in the company, valued at $342,303. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. HC Wainwright initiated coverage on shares of Neumora Therapeutics in a report on Tuesday, October 1st. They set a “buy” rating and a $30.00 price target on the stock. Mizuho assumed 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. Needham & Company LLC reiterated a “buy” rating and set a $23.00 price target on shares of Neumora Therapeutics in a research note on Friday, October 18th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $29.00 price objective on shares of Neumora Therapeutics in a research note on Wednesday, September 4th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Neumora Therapeutics presently has a consensus rating of “Moderate Buy” and an average price target of $22.83.

Neumora Therapeutics Stock Down 0.6 %

The company has a 50-day moving average price of $12.84 and a 200-day moving average price of $11.33. The company has a market capitalization of $2.23 billion and a price-to-earnings ratio of -5.45.

Neumora Therapeutics (NASDAQ:NMRA) last announced its earnings results on Tuesday, August 6th. The company reported ($0.37) earnings per share for the quarter, meeting the consensus estimate of ($0.37). Equities analysts expect that Neumora Therapeutics, Inc. will post -1.48 EPS for the current fiscal year.

Institutional Investors Weigh In On Neumora Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the stock. Clarius Group LLC bought a new stake in Neumora Therapeutics in the 3rd quarter valued at $224,000. Handelsbanken Fonder AB raised its position in shares of Neumora Therapeutics by 35.0% during the third quarter. Handelsbanken Fonder AB now owns 26,600 shares of the company’s stock valued at $351,000 after buying an additional 6,900 shares during the last quarter. Quarry LP bought a new stake in shares of Neumora Therapeutics in the second quarter valued at about $98,000. The Manufacturers Life Insurance Company grew its position in Neumora Therapeutics by 79.5% during the second quarter. The Manufacturers Life Insurance Company now owns 111,828 shares of the company’s stock worth $1,099,000 after buying an additional 49,527 shares in the last quarter. Finally, Marshall Wace LLP bought a new position in Neumora Therapeutics during the second quarter valued at about $1,323,000. Institutional investors and hedge funds 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.