Investors Buy Large Volume of Neumora Therapeutics Call Options (NASDAQ:NMRA)

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

Insider Activity

In other news, Director Matthew K. Fust sold 14,049 shares of the business’s stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $17.03, for a total transaction of $239,254.47. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Robert A. Lenz sold 5,563 shares of Neumora Therapeutics stock in a transaction dated Wednesday, October 9th. The shares were 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 of the company’s stock, valued at $4,847,719.66. This trade represents 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

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Amalgamated Bank lifted its holdings in shares of Neumora Therapeutics by 472.8% in the 2nd quarter. Amalgamated Bank now owns 2,910 shares of the company’s stock worth $29,000 after acquiring an additional 2,402 shares during the last quarter. Quarry LP purchased a new stake in Neumora Therapeutics during the second quarter valued at about $98,000. SkyOak Wealth LLC bought a new position in shares of Neumora Therapeutics during the second quarter valued at about $147,000. Principal Financial Group Inc. purchased a new position in shares of Neumora Therapeutics in the second quarter worth about $166,000. Finally, Intech Investment Management LLC bought a new stake in shares of Neumora Therapeutics in the 3rd quarter valued at about $175,000. 47.65% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently weighed in on NMRA. JPMorgan Chase & Co. lowered shares of Neumora Therapeutics from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $18.00 to $15.00 in a research report on Tuesday, November 5th. Bank of America cut their price objective on Neumora Therapeutics from $22.00 to $7.00 and set a “buy” rating on the stock in a research report on Monday. Needham & Company LLC reissued a “buy” rating and issued a $23.00 price target on shares of Neumora Therapeutics in a report on Thursday, January 2nd. Royal Bank of Canada lowered shares of Neumora Therapeutics from an “outperform” rating to a “sector perform” rating and lowered their price objective for the stock from $29.00 to $4.00 in a research report on Thursday, January 2nd. Finally, HC Wainwright reiterated a “buy” rating and issued a $30.00 price target on shares of Neumora Therapeutics in a research report on Friday. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $16.50.

Neumora Therapeutics Stock Up 14.3 %

Neumora Therapeutics stock opened at $2.48 on Tuesday. Neumora Therapeutics has a 52 week low of $1.83 and a 52 week high of $21.00. The business has a 50-day simple moving average of $10.28 and a 200 day simple moving average of $11.46. The stock has a market cap of $400.67 million, a price-to-earnings ratio of -1.33 and a beta of 2.71.

Neumora Therapeutics (NASDAQ:NMRA) last issued 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 previous year, the company earned ($1.14) earnings per share. On average, research analysts anticipate that Neumora Therapeutics will post -1.61 earnings per share for the current 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.